$7,800,000
$7,950,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
0.85 Acres Lot
SOLD DATE : 12/08/2023
Key Details
Sold Price $7,800,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 22147069
Sold Date 12/08/23
HOA Y/N No
Lot Size 0.848 Acres
Property Description
DWG Capital Group, as the exclusive agent, is pleased to present for sale 23036-23060 Ventura Boulevard, a 36,923 SF development site well-suited for a multifamily mixed-use development project with a 1:1 floor area ratio (FAR) of up to 84,714 SF in the highly desirable Woodland Hills/Calabasas adjacent submarket of Los Angeles.This prime 71 Unit parcel assemblage was strategically purchased as part of an overall greater development and is now amidst the completion of entitlements. The seasoned developer/seller has an attractive 71-unit building design in process with an excellent architect. The proposed plans shall allow the project and new buyer to commence quickly to develop a beautiful, new 6-Story, 71-Unit Apartment Building inclusive of 3 stories of residential, ground floor retail, and 2 levels of parking. The project can be purchased with or without entitlements as desired by the new purchaser.Located at 23036-23060 Ventura Boulevard, the site boasts an excellent Woodland Hills/Calabasas adjacent location that is proximate to many Calabasas amenities, the nearby Bowlero as well as three prime malls: The Village at Westfield Topanga (mixed-use, open-air shopping, and dining with 100 stores); Westfield Topanga (regional indoor mall); and Westfield Promenade (34-acre property envisioned for redevelopment to include expansive community open space, residential units, shops, cafes, hospitality, and an entertainment/sports center).Additionally, the Woodland Hills/Calabasas neighborhood enjoys being a short drive to many restaurants in its general area, such as Fleming's Steakhouse and Roy's Asian Fusion as well as its desirous location within the San Fernando Valley's urban core with over six million square feet of office space.Along with its outstanding location, the future development envisioned for this site will benefit from Woodland Hills' strong multifamily fundamentals, favorable income, and education demographics, and proximity to public transit via the Metro Orange Line.As an additional positive attribute, 23036-23060 Ventura Boulevard is located in the western area of Woodland Hills on the Calabasas border making it less subject to any future oversupply risks within the more densely developed Woodland Hills/Warner Center area.
Location
State CA
County Los Angeles
Area Whll - Woodland Hills
Zoning LAC1
Interior
Fireplace No
Exterior
View Y/N Yes
View City Lights
Building
New Construction No
Others
Senior Community No
Tax ID 2042006055
Special Listing Condition Real Estate Owned
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Bought with John 'Judd' Dunning • John Barker Dunning
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "