Only $70/SF! Build up to 24 units on this cross-zoned site: C2-1VL (or R-4), R1-1.5, and R1-1. The front section of the parcel (closest to Vineland Ave) is 6,435 sqft, zoned C2-1VL which is the equivalent of R-4 and up to 21 units (with density bonus) can be built on the section of the parcel. Zoning allows for commercial use as well as multiple dwelling units. The middle area is 3,315 sqft, zoned RD1-1.5. Zoning allows for restricted density multi-unit dwelling. The rear portion of the parcel (closest to Fair Ave) is a 6,000 sqft area, zoned R1-1. Rents for newly-constructed units in the area are in the range of $2650-$2900 for 3 bedrooms and $2200-2400 for 2 bedrooms. With Sun Valley's high population of renters (46%), this site is just waiting for a developer to maximize its potential. There are currently 3 buildings (4 units) on the parcel. that are generating $1450 a month in rent. All tenants are month-to-month. Buyer to verify.
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Listing Courtesy ofCalifornia Real Property, Inc