REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Josh Gregorio

josh.gregoriorealestategroup@gmail.com +1(661) 447-5111

$ 2,900,000

Est. payment | -/mo

16 Beds

9 Baths

4,549 SqFt

Save

$ 2,900,000

Est. payment | -/mo

Save

16 Beds

9 Baths

4,549 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,549 sqft

Price per Sqft $637

MLS Listing ID 26860729

Bedrooms 16

HOA Y/N No

Year Built 1937

Lot Size 0.908 Acres

Property Description

12215 San Fernando Road in Sylmar, CA. The property, originally constructed in 1937, is comprised of nine units with a mix of two x one bedroom/one bath, and seven x two bedroom/one bath apartments, situated on a 0.91 acre (39,537 SF) parcel. In 2018, the property was renovated and two new units were added. There is an on-site leased laundry room, and each unit has wall a/c units. Currently, some of the excess land is used for truck parking generating $500 per month in revenue; and the additional space on the excess can be rented should the opportunity arise. Currently, the property is generating almost $15,000 per month in income.The parcel is zoned LA C2-2D. City of Los Angeles Transit Oriented Communities qualifies the parcel as TOC Tier 4 due to its proximity to the Sylmar/San Fernando Metrolink Train Station. Tier 4 qualifies for an 80% bonus in unit density based on the underlying zoning. This is in exchange for setting aside a certain amount of low-income units. By right one could develop 86 units. With TOC Tier 4, one could develop 155 units. Please refer to the above link for specifics. Additionally, the city has implemented a local incentive program detailed in the City of Los Angeles Density Bonus Program which complements the TOC program and the Citywide Housing Incentive Program Ordinance or CHIP. Further, the site qualifies for Executive Directive 1 (ED 1) which expedites the processing of shelters and 100% affordable housing projects in the city of Los Angeles. The offering is a rare opportunity for an investor/developer to acquire a sizable developable parcel in a sub-market in critical need of new housing, and is also eligible for expedited entitlement processing.

Location

State CA

County Los Angeles

Area Syl - Sylmar

Zoning LAC2-2D

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Uncovered

Total Parking Spaces 16

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 2611010012

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Robert Leveen Robert Leveen #01476685

📞 Call 661-447-5111

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 447-5111

josh.gregoriorealestategroup@gmail.com

3400 Calloway Dr Suite 700, Bakersfield, California, 93312, USA

12215 San Fernando RD Los Angeles, CA 91342

Josh Gregorio

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

12215 San Fernando RD