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$4,000,000
Est. payment /mo
0.52 Acres Lot
UPDATED:
07/17/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-413029
Lot Size 0.517 Acres
Acres 0.5174
Property Description
We proudly presents 6167 Sylmar Ave, also known as 14401 Calvert St, a 22,529 square foot corner lot in the heart of Van Nuys. The property is located just a block away from City Hall and is surrounded by a neighborhood undergoing redevelopment. Situated at 6167 Sylmar Ave, the property is currently a parking lot located on the northwest corner of the intersection of Sylmar St and Calvert St. The corner location, along with 150 feet of frontage on both Sylmar Ave. and Calvert St, offers tremendous flexibility in design and parking accommodation for future homes. The property takes advantage of the recently up-zoned TOC Tier 4 and the Qualified Opportunity Zone designation of this QC2-2D-CDO Lot, maximizing its potential for future development in this growing and improving area. A savvy developer could build 112 units by right or utilize TOC and density bonus benefits to build 204 units. The lot is near many government buildings, providing easy access to potential future tenants with good incomes. Furthermore, its proximity to the LA Sheriff's Department and LAPD offers a sense of safety. Downtown Van Nuys is experiencing growth with job opportunities and rapid transit options, including the potential Metro Light Rail Project along Van Nuys Blvd, connecting the Orange Bus Line to the south and the City of San Fernando to the north, and possibly linking to the Sepulveda Pass Transit Corridor. Metro staff are recommending a 9.2-mile light rail line between the Orange Line's Van Nuys Station and the Sylmar/San Fernando Metrolink Station for the East San Fernando Valley Transit Corridor project. The Metro Board of Directors will consider adopting light rail as the "locally preferred alternative" at their next meeting. The new rail line would run mostly down the center of Van Nuys Boulevard and along the San Fernando railroad right-of-way, adjacent to San Fernando Road. The line would have 14 stations with an end-to-end travel time of 31 minutes. Metro staff determined that light rail was faster, offered more capacity and would better serve the community in the future than bus rapid transit (BRT), the other type of transit under study for the project. Van Nuys Boulevard is the second-busiest bus corridor in the San Fernando Valley and seventh-highest in the Metro system. The rail line would also offer transfers to/from the Orange Line, several busy Metro bus lines, Metrolink, Amtrak and two future Metro projects the Sepulveda Transit Corridor rail line and the North San Fernando Valley BRT line.
Location
State CA
County Los Angeles
Area East Van Nuys
Zoning LAC2
Exterior
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Special Listing Condition Standard
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Listed by Marcus & Millichap
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