We are excited to present 14658 Gilmore St, a 100% affordable development project in Van Nuys, California. The 9,225 square foot (0.21 acre), corner lot is RTI (ready-to-issue) for a 5 story building with 48 affordable units. Being RTI allows a developer to start building as soon as they close escrow. The project includes a great mix of 1- Studio, 43- 1 Bed, 3- 2 Bed and 1- 3 Bed units. Zero parking is required when within a half mile of major transit but unlike most projects, plans call for 10 parking stalls (3 standard and 7 compact), adding a layer of value and convenience. In addition, there is the great opportunity to build even more units by scrapping the parking and adding up to 12 ADUs. The offering is located in a qualified Opportunity Zone which presents a wide range of benefits for an investor. Investors can take advantage of significant tax incentives, including deferral, reduction, and potential elimination of capital gains taxes, which can greatly enhance overall returns. With Opportunity Zones set to expire at the end of 2026, this project affords an investor the extraordinary opportunity to buy, build and refinance before its expiration. This project will benefit from current and future new development in the area resulting in rent growth and gentrification.The site is nestled in the vibrant area of Van Nuys within Los Angeles, California, representing a favorable location for both residents and investors alike. Its strategic position in the heart of the San Fernando Valley offers an exceptional blend of accessibility, amenities, and lifestyle opportunities. With major freeways like the I-405 and US-101 in close proximity, residents enjoy seamless connectivity to the broader Los Angeles area, facilitating easy commutes to major employment hubs such as downtown Los Angeles and the bustling tech industries of Silicon Beach. Additionally, the area boasts a diverse array of dining, shopping, and recreational options, enhancing the quality of life for its inhabitants. The local real estate landscape is characterized by a mix of residential properties, ranging from charming single-family homes to modern apartments, making it a suitable choice for a variety of preferences and budgets.
Property Details
Price:
$2,200,000
MLS #:
24-382413
Status:
Active
Baths:
0
Address:
14658 Gilmore St
Type:
Land
Neighborhood:
eastvannuys
City:
Van Nuys
Listed Date:
Apr 19, 2024
State:
CA
Lot Size:
9,153 sqft / 0.21 acres (approx)
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- Address14658 Gilmore St Van Nuys CA
- AreaEast Van Nuys
- CityVan Nuys
- CountyLos Angeles
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Courtesy of Filip Niculete at Marcus & Millichap. The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2024-05-06.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2024-05-06.
14658 Gilmore St
Van Nuys, CA
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