14658 Gilmore Street

Van Nuys, CA 91411

$2,200,000

Listed Price
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bed Beds

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shower Baths

N/A sqft

straighten $1,074 / sqft

calendar_month Built

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 a developer to start building as soon as they close escrow. The project includes a great mix of 1- Studio, 43- 1 Bed, 3- 2 Bed and 1- 3 Bed units. Zero parking is required when within a half mile of major transit but unlike most projects, plans call for 10 parking stalls (3 standard and 7 compact), adding a layer of value and convenience. In addition, there is the great opportunity to build even more units by scrapping the parking and adding up to 12 ADUs. 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 new development in the area resulting in rent growth and gentrification.The site is nestled in the vibrant area of Van Nuys within Los Angeles, California, representing a favorable location for both residents and investors alike. Its strategic position in the heart of the San Fernando Valley offers an exceptional blend of accessibility, amenities, and lifestyle opportunities. With major freeways like the I-405 and US-101 in close proximity, residents enjoy seamless connectivity to the broader Los Angeles area, facilitating easy commutes to major employment hubs such as downtown Los Angeles and the bustling tech industries of Silicon Beach. Additionally, the area boasts a diverse array of dining, shopping, and recreational options, enhancing the quality of life for its inhabitants. The local real estate landscape is characterized by a mix of residential properties, ranging from charming single-family homes to modern apartments, making it a suitable choice for a variety of preferences and budgets.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 14658 Gilmore Street
City Van Nuys
State CA
Zip 91411
County Los Angeles
Listing Agent Filip Niculete DRE#01905352
Co-Listing Agent Glen Scher DRE#01962976
Courtesy Of Marcus & Millichap
MLS 24382413
List Price $2,200,000
Status Active
Type Land
Structure Size N/A
Lot Size 9,153
DOM 8

Exterior Information

Maps

Listing information courtesy of: Filip Niculete, Glen Scher, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 27th, 2024 at 5:21 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.