Excellent development opportunity in the heart of Lake Balboa, California. This corner lot property is zoned R3-1 on approximately 11,316 SF (approximately .26 acres) lot. With current zoning, a developer can potentially build 14 units "By Right. " By taking advantage of Los Angeles' Density Bonus program, which allows more residential units with reduced parking requirements, up to 21 units can be potentially be built with no RSO, Ellis, or relocation issues. The existing 1,207 SF structure is a single-family house located in the high-demand rental market of Lake Balboa with close proximity to the 405 and the 101. Convenient to the Metro Orange Line, the Van Nuys FlyAway Bus Terminal, Sepulveda Basin Wildlife Reserve, Woodley Park Archery Range, the Japanese Garden, and of course, Lake Balboa Park, the property is also a short distance to the newest Vallarta mega-supermarket scheduled to open this summer. 7005 Woodley Avenue is ideally located in the epicenter of the San Fernando Valley, with investor/landlord prime market conditions, heightened demand for multi-family housing and growth potential. CONTACT LISTING AGENT FOR BRICK+WORK REPORT. Buyer to verify square footage, by-right and potential construction opportunities including TOC, Density Bonus and
MLS #
CRPV20263524
MLS Source
California Regional MLS
Buyer's Brokerage Compensation*
2.00%
HOA Fee
$0
Zoning
PRKG
7005 Woodley Ave is in Van Nuys, CA 91406. This Land is currently priced at $1,250,000.
This address can also be written as 7005 Woodley Ave, Van Nuys, CA 91406.©2024 California Regional MLS. All rights reserved. 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. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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This listing information is up-to-date as of August 13, 2022. For the most current information, please contact Lee Williams, (310) 400-6389