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13260 Maclay St - ±1.84 Acre Site of LAC2-1-CPIO Zoned Land 1.84 Acres of Commercial Land Offered at $7,500,000 in San Fernando, CA 91340
INVESTMENT HIGHLIGHTS
- Large development site consisting of ±80,199 SF
- 100% affordable development allowance of up to 362 units (Buyer to verify)
- Located in the Mixed-Use Corridor CPIO Area of Sylmar which requires ground floor commercial of ±10,350 SF along Maclay Street (Buyer to Verify).
- Market rate development allowance of up to 271 units (Buyer to verify)
- Current improvements include a 22-unit apartment complex offering income to a developer during the entitlement process
- Located in a CTCAC Moderate Resource Tract
PROPERTY FACTS In Escrow
| Price | $7,500,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | 1031 Exchange | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.84 AC |
| Zoning | LAC2-1-CPIO | ||
| Price | $7,500,000 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.84 AC |
| Zoning | LAC2-1-CPIO |
1 LOT AVAILABLE
Lot
| Price | $7,500,000 | Lot Size | 1.84 AC |
| Price Per AC | $4,073,616.22 |
| Price | $7,500,000 |
| Price Per AC | $4,073,616.22 |
| Lot Size | 1.84 AC |
DESCRIPTION
Located on Maclay Street, this development opportunity currently consists of 22 apartments units on a large ±80,199 square foot lot. Currently, the asset maintains 100% occupancy and offers an income while the developer works through their entitlement process. Zoned LAC2-1-CPIO, a new developer will have the opportunity to build up to 1 unit per 400 square feet of land area. As a market rate development, a developer will have the opportunity to build up to 271 units (Buyer to verify) using the California state density of 35%. As a 100% affordable site, a developer has the option to utilize AB-1763 to achieve an 80% increase in density which increases total density allowance to 362 units (Buyer to verify). 13260 Maclay Street is centrally located with easy access to 210, 5, 405 Freeways, and Highway 118. Furthermore, the development site is within close proximity to many of the areas largest retailers including Smart & Final Extra!, The Home Depot, Office Depot, and the San Fernando Swap Meet.
PROPERTY TAXES
| Parcel Number | 2513-031-036 | Improvements Assessment | $433,332 |
| Land Assessment | $1,733,353 | Total Assessment | $2,166,685 |
PROPERTY TAXES
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13260 Maclay St - ±1.84 Acre Site of LAC2-1-CPIO Zoned Land
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