Lots & Land - Tujunga, CA photo 1
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6935 Foothill Boulevard
Tujunga, California, United States


AGGREGATE INVESTMENT PARTNERS is pleased to present the opportunity to acquire this development asset, located on Foothill Boulevard in Tujunga, that is best suited for a planned development for multi-family dwellings. With a combined approximate size of 40,246 (32,590 square feet of LAC2 and 7,656 square feet of LARD3) square feet from seven parcels, the lot has a slight slope and rests North of the 210 Freeway. The existing buildings consist of a main retail building along with two rear garage/storage structures. With a zoning of LAC2 and LARD3, a builder will have the by-right allowance to build a total of 81 apartment units. With the usage of the California State density bonus program, a builder will have the opportunity to build 114 units (Buyer to Verify). Along with the increase in unit allowance, a builder will be allowed other "on-menu" incentives that may be confirmed with the City of Los Angeles. Currently, there are multiple tenants with gross monthly rents of approximately $17,800. The owner is responsible for property taxes and insurance. With the current income, a potential buyer will have a vehicle to offset a small portion of their development costs.

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Keller Williams Luxury Homes International

Keller Williams Luxury Homes International
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