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8720 Tobias Ave

Panorama City, CA 91402
  • $4,850,000
  • STATUS: Active
  • ON SITE: 12 Days
  • MLS #: 21-794588
UPDATED: 6 min ago
$4,850,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

two parcels of land in Panorama City totaling 25,928 square foot as a development opportunity located on Van Nuys Blvd and Parthenia St. The property is being offered at $187 ppsf blended and is located east of the 405 FWY, just north of Roscoe Blvd and directly across the street from the LAKings Valley Ice Center.This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 51. The subject property is located just 1.2 miles from the newly improved Van Nuys Metro link Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area. With over 360,000 people within a three-mile radius, Panorama City is a highly desirable market in the central valley with high demand low residential vacancy rates.Preferential zoning allows for significant development potential. Based on the [Q]C2-1VL and R3zoning and density increase benefits the development potential for the subject property is multifamily42 buildable units by-right and up to 72 buildable units with increased density based on theTier 3 TOC benefits.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-24T23:42:27.96. 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.
www.jelmbergteam.com/homes/122314731
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8720 Tobias Ave Panorama City, CA 91402

  • Price: $4,850,000
  • Status: Active
  • Updated: 6 min ago
  • MLS #: 21-794588
0
Beds
0
Baths
0
½ Baths
0.21
Acres
Neighborhood:
Panorama City
County:
Los Angeles
Area:
Panorama City
Property Description
two parcels of land in Panorama City totaling 25,928 square foot as a development opportunity located on Van Nuys Blvd and Parthenia St. The property is being offered at $187 ppsf blended and is located east of the 405 FWY, just north of Roscoe Blvd and directly across the street from the LAKings Valley Ice Center.This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 51. The subject property is located just 1.2 miles from the newly improved Van Nuys Metro link Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area. With over 360,000 people within a three-mile radius, Panorama City is a highly desirable market in the central valley with high demand low residential vacancy rates.Preferential zoning allows for significant development potential. Based on the [Q]C2-1VL and R3zoning and density increase benefits the development potential for the subject property is multifamily42 buildable units by-right and up to 72 buildable units with increased density based on theTier 3 TOC benefits.
Exterior Features

Lot Size Area 9154 View Description None View YN No

Property Features

Cable YN Yes Sale Type Standard Source Lot Size Area Vendor Enhanced Zoning Lar3

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-24T23:42:27.96. 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.
 
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