6648-6670 Reseda Blvd - Shovel Ready Building Permits Paid -180 units 1.44 Acres of Residential Land in Reseda, CA 91335
INVESTMENT HIGHLIGHTS
- EXCEPTIONAL DEVELOPMENT OPPORTUNITY
- DESIRABLE LOCATION
- VIBRANT NEIGHBORHOOD
- EXPANSIVE LAND PARCEL
- PROXIMITY TO MAJOR CENTERS
- ENTITLEMENT FOR DEVELOPMENT
EXECUTIVE SUMMARY
Notably, the property is situated in the vicinity of prominent destinations such as Westfield Topanga, The Topanga Village, Warner Center, Pierce College, Northridge Fashion Center, Van Nuys Airport, Providence Cedars-Sinai, and California State University Northridge. These influential centers collectively contribute to the vibrancy and growth potential of the area, enhancing the value proposition of 6650 Reseda Blvd.
Moreover, it’s essential to recognize that although 6650 Reseda Blvd is located around 5-miles from Warner Center, its attributes and potential play a pivotal role in the local development landscape. The surrounding area, including 21300 Oxnard Street, is currently experiencing the emergence of new hotels, residential complexes, and multi-use developments, further underlining the property’s unique and advantageous position.
What sets this opportunity apart is its centrality within reach of some of the nation’s most significant planned developments. Notably, the Westfield Promenade, situated just half a mile from the property, has been acquired by Stan Kroenke, owner of the Los Angeles Rams. The Promenade is undergoing a remarkable $1.5 billion transformation, envisioned to include retail spaces, Class-A offices, two hotels, 14,000 residential units, and an expansive entertainment and sports center. The future direction could encompass the continuation of this ambitious plan, or the site potentially serving as the Rams’ Practice facility.
PROPERTY FACTS In Escrow
1 LOT AVAILABLE
Lot
| Lot Size | 1.44 AC |
A development opportunity at 6650 Reseda Blvd in Reseda, CA. Marcus & Millichap is pleased to present this expansive 1.57-acre (68,735 square feet) land parcel located in the desirable West San Fernando Valley neighborhood of Park Reseda
DESCRIPTION
Park Reseda is located at 6648-6670 Reseda Boulevard in Reseda, CA. The property is in the heart of the San Fernando Valley with very easy access to amenities and employment centers. The Property sits on the busy north-south corridor of Reseda Boulevard, a primary thoroughfare connecting the affluent south and north San Fernando Valley. • Reseda Charter High School is one block away • The $26 Million LA Kings-Reseda Skating Facility is under construction a mile north • Sherman Oaks Center for Enriched Studies (“SOCES”) is one block away and is a very highly ranked public middle and high school. • Reseda Regional Park is one block from the site and a very popular local outdoor area with a lake, walking paths, playground, picnic areas, baseball fields, swimming pool, and meeting areas. • The Metro G Line (formerly the Orange Line) is a 10-minute walk and goes directly to the Metro B Line (formerly the Red Line) with easy access to Downtown Los Angeles. • Average Annual Daily Traffic Counts of 42,549 along Reseda Blvd • Warner Center, a major employment hub, is 10 minutes, or 4 stops, on the Metro G Line. • The site is 1-2 miles from major medical campuses in Tarzana, Woodland Hills, and Northridge, all of which are undergoing significant expansions and are major employers for San Fernando Valley residents. • Pierce College is also on the Metro G Line and only 2 stops from the subject. • Cal State Northridge is about 8 minutes from the property by car. Pierce College and Cal State Northridge have a combined enrollment of over 60,000 students.
PROPERTY TAXES
| Parcel Number | 2125-013-012 | Improvements Assessment | $0 |
| Land Assessment | $4,896,421 | Total Assessment | $4,896,421 |
