7005 Woodley Avenue, Van Nuys CA 91406
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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 Enterprise Zone incentives. DO NOT DISTURB TENANTS, DRIVE BY ONLY. This is a rare opportunity for the right investor.
Directions: Corner of Woodley and Hart
NOTE: This property MAY be under contract. For the current status of this property contact us.
Days on Site:
Single Family - Property
$ per Sqft:
1 (1 Full )
# of Levels:
Live or Virtual Showing
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NOTE: The payment above should be used as an estimate only. It does not include property insurance or other charges and/or taxes that may apply in your situation.
To see the property located at 7005 Woodley Avenue, Van Nuys CA 91406 or any other home on this website please call (562) 746-3768
Listing #PV20264144 By Lee Williams, Keller Williams Palos Verdes, DRE 01726182
Based on information from California Regional Multiple Listing Service, Inc. as of 04/22/2021 22:00. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.