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12335 Osborne Pl - ED1 Development | Delivered RTI for 293 Units 1.06 Acres of Residential Land Offered at $4,995,000 in Pacoima, CA 91331
Investment Highlights
- 1.06 Acres (46,035± SF) Vacant Lot
- ED-1 | 100% Affordable Project
- 5 Residential Stories + Roof Deck
- Delivered RTI for 293 Apartment Units
- Great Mix of 1 & 2 Bedroom Units
- Located in Opportunity Zone
Executive Summary
The LAAA Team at Marcus & Millichap is excited to present 12335 Osborne Place, a 100% affordable development project located in Pacoima, California. This 46,035 square foot (1.06 acre) lot will be delivered with RTI (Ready to Issue) plans for a 5-story building that will include 293 affordable units. The project plans feature a great unit mix of 281 one-bedroom units, and 12 two-bedroom units. Additionally, zero parking is required per AB 2345.
This offering is situated within a qualified Opportunity Zone, providing a range of benefits for investors. Investors can take advantage of significant tax incentives, including the deferral, reduction, and potential elimination of capital gains taxes, which can greatly enhance overall returns. Furthermore, the project will benefit from ongoing and future developments in the area, leading to rent growth and gentrification.
The city of Pacoima is undergoing revitalization by developing a pedestrian-friendly and community-oriented downtown along Van Nuys Blvd, stretching between Laurel Canyon Blvd and San Fernando Rd. Phase 1 of this initiative has already been implemented, which included measures to slow down traffic along Van Nuys Blvd. The city is collaborating with the County of Los Angeles to secure funding for the next stage of revitalization. This next phase aims to enhance the facades of existing structures in the area with the goal of establishing a vibrant city center focused on the arts, shopping, dining, and new nightlife opportunities.
This offering is situated within a qualified Opportunity Zone, providing a range of benefits for investors. Investors can take advantage of significant tax incentives, including the deferral, reduction, and potential elimination of capital gains taxes, which can greatly enhance overall returns. Furthermore, the project will benefit from ongoing and future developments in the area, leading to rent growth and gentrification.
The city of Pacoima is undergoing revitalization by developing a pedestrian-friendly and community-oriented downtown along Van Nuys Blvd, stretching between Laurel Canyon Blvd and San Fernando Rd. Phase 1 of this initiative has already been implemented, which included measures to slow down traffic along Van Nuys Blvd. The city is collaborating with the County of Los Angeles to secure funding for the next stage of revitalization. This next phase aims to enhance the facades of existing structures in the area with the goal of establishing a vibrant city center focused on the arts, shopping, dining, and new nightlife opportunities.
Property Facts
| Price | $4,995,000 | Proposed Use | |
| Sale Type | Investment | Total Lot Size | 1.06 AC |
| No. Lots | 1 | No. Stories | 1 |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential |
| Price | $4,995,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 1.06 AC |
| No. Stories | 1 |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $4,995,000 | Lot Size | 1.06 AC |
| Price Per AC | $4,712,264.15 |
| Price | $4,995,000 |
| Price Per AC | $4,712,264.15 |
| Lot Size | 1.06 AC |
1 1
Property Taxes
| Parcel Number | 2536-015-013 | Improvements Assessment | $0 |
| Land Assessment | $1,420,552 | Total Assessment | $1,420,552 |
Property Taxes
Parcel Number
2536-015-013
Land Assessment
$1,420,552
Improvements Assessment
$0
Total Assessment
$1,420,552
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12335 Osborne Pl - ED1 Development | Delivered RTI for 293 Units
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