Description

REDUCED! Partners CRE is proud to exclusively present for sale a 51,174 SF C2-1VL-CPIO corner lot with month-to-month commercial tenants currently paying around $27,400 in rent per month! Prepare to build 173+/- Residential Units by Density Bonus (or 127+/- by Right) plus Retail Units while keeping the existing income; with commercial tenants on month-to-month leases, there should be no issue breaking ground when entitlements are ready. Located in the quickly-changing Sylmar, this property sits less than a mile away from the coming Metro Station for the East San Fernando Valley Light Rail Transit Project. Situated next door to a 14 Unit Residential Building built in 2011, the land sits across the street from a bicycle path that follows the train tracks that the new Metro Line will run on, leading to unobstructed views of the mountains! The property is in a Qualified Opportunity Zone! Building Square Footage may be 18,550 SF per some counts. Buyer to verify. Transaction includes two APNs: 2604-024-002 and 2604-024-001.