16600 Vanowen St
Van Nuys, CA 91406
Balboa Courts Development Site · Land For Sale · 4.32 AC

Situated within the highly coveted neighborhood of Los Angeles’ San Fernando Valley known as Lake Balboa, the subject parcels represent the rarest form of potential residential development opportunity in the City of Los Angeles (large, three street frontages, vacant, and infill). With over 600’ of frontage along Vanowen St., the R1-1-RIO zoned real estate currently possesses a “Low Residential” general plan designation. The community plan update process underway for the applicable Reseda – West Van Nuys Community Plan Area has slated the entire site for a proposed general plan designation of “Low Neighborhood Residential”. When the update process pairs the proposed new general plan designation with an applicable corresponding zoning designation (utilizing re:code LA nomenclature), it will represent a significant City-induced up-zoning event. The new zoning will ultimately allow for a greater density utilization than today’s R1-1 based on even the most restrictive potential zoning string permutations viable under the proposed future general plan designation. Balboa Acres is an opportunity to purchase one of Los Angeles’ most significant residential development sites before the full value enhancement of the imminent City-induced up-zoning event is actualized. The site is being sold as-is as raw un-entitled land. Potential downside and upside land use scenarios are depicted herein. Ownership is not a developer. Price: $13,995,000 ($75/PSF). The Property is being offered for sale with the selection of the buyer being influenced by the level of physical and economic due diligence initially undertaken by prospective purchasers. In this regard, zoning analysis, title report, and additional relevant information are available for review.