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$1,399,000
Est. payment /mo
0.28 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26230447
HOA Y/N No
Lot Size 0.279 Acres
Property Description
"LAND VALUE OPPORTUNITY | INCOME-PRODUCING PROPERTY | DEVELOPMENT POTENTIAL"
Exceptional opportunity for investors, developers, and owner-users! Situated on an approximately 12,135-square-foot lot in Van Nuys, this property offers a compelling combination of current rental income and future development potential. Currently tenant-occupied and generating $4,000 per month in rental income ($48,000 annually), the property provides income while buyers explore their long-term plans. The seller has approved plans for an auto body shop, offering a potential path forward for buyers interested in an automotive-related business. Beyond the existing plans, the property's land value and location present an opportunity for buyers to explore alternative development concepts and potential uses, subject to applicable zoning, approvals, and governmental requirements. Whether pursuing an automotive facility, evaluating other permitted uses, or holding the property as an income-producing investment, buyers can explore a range of possibilities to suit their investment strategy. Conveniently located in the San Fernando Valley near Van Nuys Airport, major thoroughfares, and the 405 Freeway, this property offers an attractive opportunity for those looking to invest in land with existing income and future potential. Bring your vision and explore the possibilities! Buyer to independently verify all property information, rental terms, income, zoning, permitted uses, existing plans, approvals, permits, and development potential with the appropriate parties and governmental agencies. No representation is made regarding uses that have not been approved.
Exceptional opportunity for investors, developers, and owner-users! Situated on an approximately 12,135-square-foot lot in Van Nuys, this property offers a compelling combination of current rental income and future development potential. Currently tenant-occupied and generating $4,000 per month in rental income ($48,000 annually), the property provides income while buyers explore their long-term plans. The seller has approved plans for an auto body shop, offering a potential path forward for buyers interested in an automotive-related business. Beyond the existing plans, the property's land value and location present an opportunity for buyers to explore alternative development concepts and potential uses, subject to applicable zoning, approvals, and governmental requirements. Whether pursuing an automotive facility, evaluating other permitted uses, or holding the property as an income-producing investment, buyers can explore a range of possibilities to suit their investment strategy. Conveniently located in the San Fernando Valley near Van Nuys Airport, major thoroughfares, and the 405 Freeway, this property offers an attractive opportunity for those looking to invest in land with existing income and future potential. Bring your vision and explore the possibilities! Buyer to independently verify all property information, rental terms, income, zoning, permitted uses, existing plans, approvals, permits, and development potential with the appropriate parties and governmental agencies. No representation is made regarding uses that have not been approved.
Location
State CA
County Los Angeles
Area Vn - Van Nuys
Zoning LAMR1
Interior
Fireplace No
Exterior
Community Features Suburban, Valley
View Y/N No
View None
Building
Lot Description Level, Street Level
Water Public
New Construction No
Others
Senior Community No
Tax ID 2205028018
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by Aziz Molai Keller Williams Realty-Studio City 310-213-3730, DRE #00893798
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