Description

We are pleased to present 12323 Osborne Place, a RTI development site located in Opportunity Zone. This development site is RTI for 37 large condominium units with private garage parking on the ground level, three residential stories and roof top decks. The current plans consist of 20 two-bedroom, two-bathroom, 2 three-bedroom, three-bathroom and 15 four-bedroom, four-bathroom condominium units with individual roof top decks. The offering is located in a qualified "Opportunity Zone", providing a developer with major long term tax benefits.12335 Osborne Place is comprised of 66,152 SF of vacant land zoned (Q)RD1.5-1-CUGU. The lot is located on the West side of Osborne Pl in the southeast section of Pacoima, surrounded by Shadow Hills, La Tuna Canyon, Sun Valley, and Arleta. This convenient San Fernando Valley neighborhood boasts commuter's accessibility with the 5, 210, and 118 freeways within close proximity of the subject property.The city of Pacoima is revitalizing the area by creating a pedestrian-friendly, community-oriented downtown along Van Nuys Blvd between Laurel Canyon Blvd and San Fernando Rd. Phase 1 of this plan has already been implemented, with traffic slowing measures along Van Nuys Blvd. The city is working with the County of Los Angeles to obtain funding for the next stage of revitalization, which would include funding to improve the facade of existing structures in this area, with the intention of creating a community-oriented city center with a focus on the arts, shopping, dining and new nightlife opportunities.