14658 Gilmore Street Active Save Request In-Person Tour Request Virtual Tour
Van Nuys (los Angeles),CA 91411
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL24382413
HOA Y/N No
Lot Size 9,153 Sqft
Acres 0.21
Property Description
We are excited to present 14658 Gilmore St, a 100% affordable development project in Van Nuys, California. The 9,225 square foot (0.21 acre), corner lot is RTI (ready-to-issue) for a 5-story building with 48 affordable units. Being RTI allows developers to start building as soon as they close escrow. The project consists of a total of 48 units: 1 studio, 43 one-bedroom, 3 two-bedroom, and 1 three-bedroom. Additionally, the first floor features an office and a recreation room. Zero parking is required since major transit is within a half mile, but plans include 10 parking spaces (3 standard and 7 compact) for added convenience. Furthermore, there is potential to create an additional 12 accessory dwelling units (ADUs) by eliminating the parking spaces.The offering is located in a qualified Opportunity Zone which presents a wide range of benefits for an investor. Investors can take advantage of significant tax incentives, including deferral, reduction, and potential elimination of capital gains taxes, which can greatly enhance overall returns. With Opportunity Zones set to expire at the end of 2026, this project affords an investor the extraordinary opportunity to buy, build, and refinance before its expiration. This project will benefit from current and future developments in the a
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 2236022012