NEW PRICE! THIS IS AN EXCLUSIVE OFFERING IN THE AFFLUENT NEIGHBORHOOD OF TOLUCA LAKE ON A GREAT VISIBILITY STREET. THIS IS A ONE OF KIND OPPORTUNITY FOR AN ASTUTE INVESTOR OR DEVELOPER WHO WANTS TO BUILD A NEW APARTMENT BUILDING ON A PRIME SITE SURROUNDED BY LOTS OF NEW CONSTRUCTION. THIS PROPERTY SITS ON A 6,600 SQUARE FOOT LOT WITH A 20 FOOT ALLEY IN THE REAR. IT IS ZONED R3-1 WHICH ALLOWS FOR UP TO 8 BRAND NEW UNITS TO BE BUILT ON THE SITE BY RIGHT. IN ADDITION THROUGH BONUS DENSITY YOU MAY BE ABLE TO BUILD UP TO 12 UNITS ON THE SITE. THERE IS A LOT OF NEW CONSTRUCTION IN THE AREA INCLUDING A BRAND NEW 10 UNIT APARTMENT BUILDING TWO DOORS DOWN AND ANOTHER 5 UNIT CONDOMINIUM BUILDING AROUND THE CORNER. THERE ARE PLANS FOR A NEW 57 UNIT APARTMENT BUILDING JUST DOWN THE STREET THAT IS GOING TO BEGIN CONSTRUCTION SOMETIME THIS SUMMER. THERE ARE NO ENTITLEMENTS FOR NEW CONSTRUCTION ON THIS SITE. THE PROPERTY IS CURRENTLY IMPROVED WITH A 4 UNIT APARTMENT BUILDING THAT IS UNDER RENT CONTROL AND FULLY OCCUPIED. DO NOT MISS OUT ON THIS GREAT OPPORTUNITY AS THIS IS THE ONLY APARTMENT DEVELOPMENT SITE ON THE MARKET IN TOLUCA LAKE. SUBMIT ALL OFFERS!!
MLS #
CRSR20137674
MLS Source
California Regional MLS
Buyer's Brokerage Compensation*
2.00%
Fencing
Wood
Lot Description
Grade - Level
HOA Fee
$0
Zoning
LWS, LW, LSR, LL, LV
4418 Cahuenga Bld is in Toluca Lake, CA 91602. This Land is currently priced at $1,515,000.
This address can also be written as 4418 Cahuenga Bld, Toluca Lake, CA 91602.©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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* The offer of compensation is made subject to the MLS rules where the listing is filed. Please contact your agent for any questions concerning this subject matter.
This listing information is up-to-date as of May 03, 2023. For the most current information, please contact Daniel Drantch, (818) 290-5001