11950 RIVERSIDE Drive

Valley Village, CA 91607

$875,000

Sold Price
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bed Beds

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shower Baths

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straighten $139 / sqft

calendar_month Built

Property Description

We are pleased to present a rare development opportunity in Valley Village, California. Located at 11950 Riverside Drive, the property is zoned R3 which will allow a developer to build seven apartment units and potentially more through a 30 percent density bonus. Also, there is currently a single family residence on the land so the investor can enjoy income while they go through the entitlement process. Valley Village is known as one of the best submarkets in the San Fernando Valley with rents increasing at a strong rate.Located a few doors down, recently developed IMT Valley Village - Phase II is receiving average rents of $2.30 per square foot. For one bedroom units, the rents range from $2,200 to $2,565, and for two bedroom units, the rents range from $2,245 to $3,475.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 11950 RIVERSIDE Drive
City Valley Village
State CA
Zip 91607
County Los Angeles
Listing Agent Jason Tuvia DRE#01772495
Courtesy Of Marcus & Millichap
MLS 15894311
Close Price $875,000
Close Date Friday, October 9th, 2015
Status Closed
Type Land
Structure Size N/A
Lot Size 6,287
DOM 101

Exterior Information

Maps

Listing information courtesy of: Jason Tuvia, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 14th, 2015 at 3:05 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.