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10338 Lemona Ave - Residential Development Opportunity 1.97 Acres of Residential Land Offered at $3,250,000 in Mission Hills, CA 91345
Investment Highlights
- Rare Infill Development Site
- Proximity to 405 Freeway, 118 Freeway, 5 Freeway & Desirable Retail Amenities
- Urban San Fernando Valley Trade Area Demographics - Huge Demand For Housing Units
- Large +/- 85,759 SF (1.97 Acre) "Street to Street" Parcel With Perfect Rectangular Shape
- Strong Underlying Real Estate Fundamentals | Active Development Trade Area
Executive Summary
Back on the Market
10338 - 10346 Lemona Ave, Mission Hills, CA
Currently zoned A2-1-0 (agricultural), and previously operating as a plant nursery, the property presents a rare opportunity to develop almost 2 acres of infill land as an affordable housing or small lot residential subdivision development with the City of Los Angeles.
Asking Price: $ 3,250,000
Address: 10338 - 10346 Lemona Ave, Mission Hills, CA
APN: 2648-001-002 & 003
Land SF: +/- 85,759 SF
Land AC: +/- 1.97 Acres
Current Zoning: A2-1-0 (Agricultural)
Current Improvements: 1,080 SF single family residence + 847 SF single family residence (*)
(*) currently utilized in conjunction with tenant’s nursery business.
Recent Use: Plant Nursery (Currently Vacant)
General Plan Land Use: Low Residential
Ownership: Fee Simple
10338 - 10346 Lemona Ave, Mission Hills, CA
Currently zoned A2-1-0 (agricultural), and previously operating as a plant nursery, the property presents a rare opportunity to develop almost 2 acres of infill land as an affordable housing or small lot residential subdivision development with the City of Los Angeles.
Asking Price: $ 3,250,000
Address: 10338 - 10346 Lemona Ave, Mission Hills, CA
APN: 2648-001-002 & 003
Land SF: +/- 85,759 SF
Land AC: +/- 1.97 Acres
Current Zoning: A2-1-0 (Agricultural)
Current Improvements: 1,080 SF single family residence + 847 SF single family residence (*)
(*) currently utilized in conjunction with tenant’s nursery business.
Recent Use: Plant Nursery (Currently Vacant)
General Plan Land Use: Low Residential
Ownership: Fee Simple
Property Facts Under Contract
| Price | $3,250,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 1.97 AC |
| Property Type | Land | No. Stories | 1 |
| Zoning | A2-1-0 - Agricultural | ||
| Price | $3,250,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 1.97 AC |
| No. Stories | 1 |
| Zoning | A2-1-0 - Agricultural |
1 Lot Available
Lot
| Price | $3,250,000 | Lot Size | 1.97 AC |
| Price Per AC | $1,649,746.19 |
| Price | $3,250,000 |
| Price Per AC | $1,649,746.19 |
| Lot Size | 1.97 AC |
Currently zoned A2-1-0 (agricultural), and previously operated as a plant nursery.
Description
APN: Los Angeles County Assessor's Office APN = 2648-001-002 and 2648-001-003 CURRENT USE: Plant Nursery FRONTAGE: +/- 213 Feet (Lemona Ave) +/- 213 Feet (Saloma Ave) CURRENT IMPROVEMENTS: +/- 1,080 SF single family residence & +/- 847 SF single family residence [*] [*] used in conjunction with current tenant's nursery business. LOT DEPTH: +/- 402 Feet TRAFFIC COUNT: +/- 28,300 VPD (Devonshire Ave) CURRENT ZONING: A2-1-0 (Agricultural) GENERAL PLAN LAND USE: Low Residential
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $205,873 | |
| Land Assessment | $1,843,317 | Total Assessment | $2,049,190 |
Property Taxes
Parcel Numbers
Land Assessment
$1,843,317
Improvements Assessment
$205,873
Total Assessment
$2,049,190
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10338 Lemona Ave - Residential Development Opportunity
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