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- LoopNet Team
4418 Cahuenga Blvd
Toluca Lake, CA 91602
4418-4422 Cahuenga Blvd. · Land For Sale
·
0.15 AC
Investment Highlights
- PRIME LOCATION OF TOLUCA LAKE. GREAT DEVELOPMENT OPPORTUNITY NOW OR IN THE FUTURE
- PROPERTY IS ZONED FOR 8 NEW UNITS. TAKE ADVANTAGE OF THE DENSITY BONUS AND BUILD UP TO 12 NEW UNITS ON THE SITE
- PROPERTY IS LOCATED IN A VERY AFFLUENT NEIGHBORHOOD OF MULTI-MILLION DOLLAR HOMES
- LOT IS 6,600 WITH 55 FEET OF FRONTAGE AND A 20 FOOT REAR ALLEY
- EXISTING 4 UNIT APARTMENT BUILDING ALLOWS THE INVESTOR THE OPPORTUNITY TO RECEIVE INCOME WHILE GOING THROUGH THE ENTITLEMENT PROCESS
- CLOSE PROXIMITY TO SHOPPING, DINING, TOURIST ATTRACTIONS AND THE TOLUCA LAKE LAKESIDE COUNTRY CLUB
Property Facts
Description
RODEO REALTY PRESENTS THIS EXCLUSIVE OFFERING IN THE AFFLUENT NEIGHBORHOOD OF TOLUCA LAKE ON A GREAT VISIBILITY STREET. A ONE OF A KIND OPPORTUNITY THAT ALLOWS FOR NEW DEVELOPMENT BASED ON ITS CURRENT R3-1 ZONING WHILE HAVING INCOME THROUGH THE ENTITLEMENT PROCESS. WITH A LOT SIZE OF 6,600 SQUARE FEET PLUS A REAR ALLEY OF 20 FEET WIDE, A DEVELOPER CAN BUILD UP TO 8 NEW UNITS BY RIGHT AND UP TO 12 NEW UNITS WITH BONUS DENSITY PER THE CITY OF LOS ANGELS. THERE IS A LOT OF NEW CONSTRUCTION IN THE AREA INCLUDING A BRAND NEW 10 UNIT APARTMENT BUILDING TWO DOORS DOWN AND ANOTHER 5 UNIT CONDOMINIUM BUILDING AROUND THE CORNER. THERE ARE PLANS FOR A NEW 57 UNIT APARTMENT BUILDING JUST DOWN THE STREET THAT IS GOING TO BEGIN CONSTRUCTION THIS YEAR. THE SITE HAS AN EXISTING 4 UNIT RENT CONTROLLED APARTMENT BUILDING THAT IS FULLY OCCUPIED. THE TENANTS ARE ON MONTH TO MONTH LEASES. VERY RARELY DO YOU SEE A RESIDENTIAL 4 UNIT PROPERTY OF THIS SIZE BECOME AVAILABLE FOR SALE IN SUCH AN EXCELLENT TOLUCA LAKE LOCATION THAT ALLOWS NEW DEVELOPMENT. THE PROPERTY IS LOCATED NEAR TOLUCA LAKE’S MANY RESTAURANTS, STORES, ENTERTAINMENT AND IS CLOSE PROXIMITY TO THE RENOWN TOLUCA LAKESIDE COUNTRY CLUB. DONT MISS THIS GREAT DEVELOPMENT OPPORTUNITY!!!
Property Taxes
| Parcel Number | 2424-002-002 | Improvements Assessment | $545,169 |
| Land Assessment | $1,144,440 | Total Assessment | $1,689,609 |
Property Taxes
