IREA is pleased to present a prime Valley residential development site zoned [Q]C2-1VL-CDO in a Tier 4 Transit Oriented Community (TOC) just a couple blocks away from the Van Nuys city and government center. The site is convenient to the Orange Bus Line stop on Van Nuys Boulevard, and will likewise be very close to the Metro Light Rail project proposed to run through Van Nuys Boulevard. By right the site should allow for the development of 37 units; however, thanks to its exceptional Tier 4 TOC rating, the site should allow for the development of 68 units, with no parking requirements. Additionally, the property is located in an opportunity zone, which could provide significant tax advantages in the future.
The site has operated as Whitney Auto Service for decades having been in the same family for approximately 50 years. The subject property has a walk score of 79 and is in easy walking distance to the Orange Line mentioned above. Van Nuys Boulevard is one block from the site which allows street access to all the major traffic arteries in the San Fernando Valley.
