Report Listing

Residential Land For Sale

Picture of Residential Land For Sale in Tujunga, California, United States

$2,300,000

9938 Commerce Ave
Tujunga, California, United States

Listed By: Realtyww Info

Listed On: 04/30/2023

Listing ID: GL10671932 View More Details

Description

LAC2-1L corner lot on Commerce Ave. and Tujunga Canyon Blvd. Vacant development opportunity on rectangular site of approximately 18, 530 square feet is ideal for housing, mixed-use and commercial uses with approximately 275 feet of frontage. Located within a QCT for potential affordable housing incentives. By-right density of up to 46 buildable units in a new multifamily or mixed-use project before any state, local and/or transit-based bonuses. Situated on a high visibility corner surrounded by a mix of local and corporate/national retail, dining and entertainment options. Tujunga's quiet, family-focused amenity base offers a multitude of educational, recreational and employment options. Local multifamily vacancy rate is just 2.2% per CoStar with an average existing price per unit north of $300, 000 on supply averaging over 50 years old. Priced in line with comparables at $124/sf.

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Listed by: Cb Richard Ellis, Inc.
Source: The World Property Journal

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