6640 Kester Ave - 12 Unit RTI Development Site 0.25 Acres of Residential Land Offered at $1,700,000 in Van Nuys, CA 91405

IREA is thrilled to present a prime development opportunity at 6640 Kester Ave in Van Nuys, CA. This project is ready for immediate construction, with fully approved plans that are RTI (Ready to Issue). It also sits in a Qualified Opportunity Zone, eligible for Federal Tax Incentive. The previous structure on the lot has already been demolished, reducing costs and allowing for a prompt start to construction. The approved plans call for the development of 12 apartment units, totaling 25,832 square feet of gross building area. The proposed design includes three (3) two-bedroom, two-bath units and nine (9) three bedroom, three-bath units, with one unit designated for extremely low-income (ELI) tenants and one for very low-income (VLI) tenants.
6640 Kester Ave is located in the Los Angeles neighborhood of Van Nuys, a well-established area in the San Fernando Valley that offers a central location with convenient access to freeways and public transportation. The neighborhood features a mix of residential streets, local shops, and restaurants. Nearby parks and schools enhance its appeal for families and professionals alike. It’s a practical choice for those looking to live in a connected and evolving part of Los Angeles.