Preparations are being made to subdivide the property located at 5500 Melvin Ave in Tarzana CA, into two lots. The subdivision process will cost approx. $50,000 and will be completed in approximately 9 months (Sept.2014). The subdivision will result in a vacant lot for sale in a prime location in Tarzana, that is 18,400 square feet, on which a 4,070 square foot house can be constructed, that will feature 180 degree views of the San Fernando Valley. The vacant lot is accessed from Shirley Ave., is behind a locked gate and is located walking distance to upscale shops and restaurants on Ventura Blvd, as well and high performing schools. Approx.$150,000 in retaining walls are needed to accommodate the single family house. The house design is envisioned to be a modern Zen style two story house with a vanishing edge infinity pool facing the view. Once completed, it is estimated that the house will be valued over $1.6M.
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.
