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9433 Sepulveda Boulevard

North Hills, CA 91343
  • $7,235,000
  • STATUS: Active
  • ON SITE: 103 Days
  • ID#: SR21183534
UPDATED: 39 min ago
$7,235,000
  • 0
    BEDS
  • 2.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing provided courtesy of Francis Evanisko of Evanisko Realty & Investment

Description

Situated within a residentially dominated segment of North Sepulveda Blvd., the Valley Villas development opportunity will offer an extremely rare opportunity to acquire a site entitled for 100% market rate townhome condominiums in the North Hills neighborhood of the City of Los Angeles just a few blocks south of Mission Hills.The site has undergone a rigorous entitlement process extending nearly six years to reach a final state of entitlement which includes an approved general plan amendment, zone change, vesting tentative tract map, building line removal, and site plan review. Most recently, a modification to VTT and CPC cases was processed and approved to allow for project phasing (unit map) of what was initially a 75-unit entitled project into a 58-unit entitled project (phase) and a 17-unit entitled project (phase). ONLY THE 58 UNIT PHASE IS BEING OFFERED FOR SALE AT THIS TIME.The recent modification to the entitlements was exacted to allow for the phased recordation of the tentative map and effectuation of zone change conditions to enable the project to be built/sold/etc. in two separate phases as separate projects. Each phase is owned by a separate landowner. The modification required technical changes to the site plan, tentative map, conditions, etc. such that each phase meets guest parking, open space, and other technical requirements.The entitled land affords the perfect opportunity to deliver attainable housing at a location that will see little to zero new housing stock due to legislative changes which have eliminated the economic viability of zone changes previously required to entitle the swaths of agriculturally zoned real estate dominating the northerly San Fernando Valley submarkets. The Valley Villas represents perhaps the last vestige of the North San Fernando Valleys pre JJJ/Pre-Linkage Fee entitlement environment. Both build-and-sell, and build-to-rent strategies are worthy of consideration for this project.Please contact Frank Evanisko for additional information regarding your interest in acquiring this development opportunity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-01T07:34:03.493. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Veronica Encinas Team | First Team Real Estate. Licensed in the State of California, USA.
www.encinashomes.com/homes/120635345
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9433 Sepulveda Boulevard North Hills, CA 91343

  • Price: $7,235,000
  • Status: Active
  • On Site: 103 Days
  • Updated: 39 min ago
  • ID#: SR21183534
0
Beds
0
Baths
0
½ Baths
2.27
Acres
Neighborhood:
NOH - North Hills
County:
Los Angeles
Area:
NOH - North Hills
Property Description
Situated within a residentially dominated segment of North Sepulveda Blvd., the Valley Villas development opportunity will offer an extremely rare opportunity to acquire a site entitled for 100% market rate townhome condominiums in the North Hills neighborhood of the City of Los Angeles just a few blocks south of Mission Hills.The site has undergone a rigorous entitlement process extending nearly six years to reach a final state of entitlement which includes an approved general plan amendment, zone change, vesting tentative tract map, building line removal, and site plan review. Most recently, a modification to VTT and CPC cases was processed and approved to allow for project phasing (unit map) of what was initially a 75-unit entitled project into a 58-unit entitled project (phase) and a 17-unit entitled project (phase). ONLY THE 58 UNIT PHASE IS BEING OFFERED FOR SALE AT THIS TIME.The recent modification to the entitlements was exacted to allow for the phased recordation of the tentative map and effectuation of zone change conditions to enable the project to be built/sold/etc. in two separate phases as separate projects. Each phase is owned by a separate landowner. The modification required technical changes to the site plan, tentative map, conditions, etc. such that each phase meets guest parking, open space, and other technical requirements.The entitled land affords the perfect opportunity to deliver attainable housing at a location that will see little to zero new housing stock due to legislative changes which have eliminated the economic viability of zone changes previously required to entitle the swaths of agriculturally zoned real estate dominating the northerly San Fernando Valley submarkets. The Valley Villas represents perhaps the last vestige of the North San Fernando Valleys pre JJJ/Pre-Linkage Fee entitlement environment. Both build-and-sell, and build-to-rent strategies are worthy of consideration for this project.Please contact Frank Evanisko for additional information regarding your interest in acquiring this development opportunity.
Exterior Features

Lot Features 0-1 Unit/Acre16-20 Units/Acre11-15 Units/Acre2-5 Units/Acre21-25 Units/Acre26-30 Units/Acre36-40 Units/Acre31-35 Units/Acre6-10 Units/AcreLot Over 40000 SqftLevelRectangular LotTear Down View City LightsHillsNeighborhoodValley View YN Yes

Property Features

Additional Parcels YN No Association YN Yes Common Interest None Community Features Street LightsUrbanValley Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 ExchangeSubmit New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning (T)(Q)RD1.5-1



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-01T07:34:03.493. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Veronica Encinas Team | First Team Real Estate. Licensed in the State of California, USA.
 
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Veronica Encinas Team | First Team Real Estate
4040 Barranca Pkwy., Ste. 100
Irvine CA, 92604
Listing provided courtesy of Francis Evanisko of Evanisko Realty & Investment