11950 RIVERSIDE Drive, Valley Village, CA 91607
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Sold Price :
$875,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
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 |
| Close Price |
$875,000 |
| Status |
Closed |
| Type |
Land |
| Structure Size |
N/A |
| Lot Size |
6,287 |
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.
