11942-11958 Allegheny St 2.24 Acres of Industrial Land Offered at $8,500,000 in Sun Valley, CA 91352

Marcus & Millichap is pleased to offer for sale the ±2.28-acre site located at 11942-11964 Allegheny Street in the city of Sun Valley. This site is composed of four individual parcels of land with APNs #2631-003-014 & 015 and 2631-004-001 & 002. The site is located on Allegheny Street just a block south of San Fernando Road and less than a mile north of the I-5 freeway.
Zoning on two of the parcels is M1-1 which is a Limited Industrial zoning classification. The General Plan Land Use on these two parcels is Limited Manufacturing with an allowable FAR of 1.5:1. Zoning on the other two parcels is RD3-1 (Restricted Density Multiple Dwelling) and RA-1 (Suburban Residential). The General Plan Land Use for these two parcels is Low Medium I Residential.

At this time, the site is leased out to Best Trucking Services Inc. who has been a tenant since 2018. The term of their existing lease expires in February of 2028 at which
time they will have one single remaining 5-year option. Best Trucking is currently paying $0.29 per square foot for the land at this time (gross lease), however the 5-year
option lease rate will be at “Prevailing Market Rates” which is going to be a significant increase if they decide to stay.

There are four small houses on the property which can be used as offices. The houses were built in 1947. This property is flat and rectangular in shape with 300’ of frontage along Allegheny Street and a depth of 331'. The site is fully fenced and has four gated entry points along Allegheny Street.

The subject property is surrounded by industrial buildings to the north and to the east along with several small to mid-sized multifamily buildings to the south along
Allegheny Street. Directly across the street from the property is Allegheny Park which is a new 1-acre city public park, and the Alliance 6-12 Charter Public School.