9
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$1,350,000
Est. payment /mo
6,752 Sqft Lot
Active
7222 Tyrone Ave Van Nuys, CA 91405
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26663897
Lot Size 6,752 Sqft
Acres 0.155
Property Description
We are pleased to to market for sale a development opportunity at 7222 Tyrone Ave, a fully entitled multifamily development site located in the high rental demand neighborhood of Van Nuys, California. This offering presents a chance for a developer to acquire a project with approvals in place for an 11-unit modern apartment building spanning four stories above grade with 10 market-rate units and 1 unit designated for a Very Low-Income tenant. This 13,333 square foot project will have a unit mix consisting of 6 one-bedroom/one bathroom units, 3 two-bedroom/one-bathroom units, and 1 two-bedroom/two-bathroom units with 10 on-grade parking spaces. The property will be delivered "RTI" and shovel ready at the close of escrow. This 6,750 square foot corner lot near the intersection of Sherman Way and Tyrone Ave is currently a vacant single-family residence. The current approvals encompass a well-designed mix of one-bedroom, two-bedroom, and three-bedroom units complete with on-grade parking. This project represents an ideal opportunity for a local developer looking to build immediately in an area that is deficient in new single-family home construction and boasts a very high rental demand for apartment units. The property's proximity to a major thoroughfare provides excellent accessibility, while strong rental market fundamentals support robust demand for quality multifamily housing in Van Nuys.
Location
State CA
County Los Angeles
Area East Van Nuys
Zoning LAR1
Exterior
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Listed by Marcus & Millichap
NEARBY SCHOOL & BUSINESS
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Roddy de la Garza
Broker Associate / Area Leader | License ID: CA 01995374 / TX 431113