We are proud to exclusively present for sale a Development Opportunity in Van Nuys, Los Angeles. This part of Van Nuys, a short walk away from City Hall, is surrounded by a quickly changing neighborhood that is prime for redevelopment. Located at 14606 Friar St., the property is currently a parking lot situated on the southwest corner of the intersection of Friar St. and Vesper Ave. The Corner Location, along with 140 feet of frontage on Vesper Ave. and 100 feet of frontage on Friar St. will allow for tremendous flexibility in design for the accommodation of the required parking as well as shower your future homes with sunlight. Take advantage of the recently up-zoned TOC Tier 4 along with the Qualified Opportunity Zone designation of this R3-1 Lot in developing the best potential for a future build for this growing and improving area. Also, with no RSO, Ellis, or relocation issues, this property is ideal to maximize those entitlements! Concept Plans are available for a 38 Unit design (1 of those Units as an ADU & 4 as Future ADUs). Since the parking lot is currently vacant, the new owner can potentially rent the parking lot to get cash flow while entitling the site! Downtown Van Nuys is growing daily with many jobs opening back up and plenty of Rapid Transit options, including a very-likely-to-happen Metro Light Rail Project down the center of Van Nuys Blvd. that is meant to run from the Orange Bus Line to the south and to the City of San Fernando to the north...and with a possible connection to the Sepulveda Pass Transit Corridor. The property is currently tied together through parking covenants to a nearby office building. Seller will deliver property free & clear of the covenant.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
