5934 Murietta Avenue

Van Nuys, CA 91401

PRICE REDUCED

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-$150,000 (-11.54%)

$1,150,000

List Price

3

bed Beds

2

shower Baths

1,097 sqft

straighten / sqft

1948

calendar_month Built

Property Description

We pleased to present the opportunity to acquire this rare 7,015 SF lot development opportunity located in the highly desirable Valley Glen neighborhood, and just about two blocks to the Van Nuys Transit station. The site offers a zoning ordinance of LARD-1.5, which makes the site an attractive opportunity for developers looking to capitalize on the demand for housing in the area and take advantage of the property's potential for long-term returns. The site is eligible to build up to thirty-five (35) affordable apartment units. There is a 3-bedroom + 1.5-bathroom single-family residence currently on the lot, which will be delivered 100% vacant. This is a high-demand rental location within close proximity to the Van Nuys Courthouse, restaurants, shops, and Valley college. The investment allows an investor to capitalize on a densely populated area that continues to experience rapid rent growth.

Listing Information

List Price $1,150,000
Status Active
MLS 24412013
Type Residential
Subtype Single Family Residence
Year Built 1948
Lot Size 7,017
Structure Size 1,097
DOM 50
Courtesy Of KW Advisors
Listing Agent Davis Saadian DRE#01921748
Co-Listing Agent Hasitha Mahaseelarathnage DRE#02131447

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms 3
Total Bathroom
Bathrooms 2
Flooring Information
Material Wood
Fireplace Information
Features None

Exterior Information

Other Structures
Structures Shed(s)
View Yes

Maps

Listing information courtesy of: Davis Saadian, Hasitha Mahaseelarathnage, KW Advisors . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 27th, 2024 at 10:39 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.