Sylmar, CA 91342,12215 San Fernando RD
Sylmar, CA 91342,12215 San Fernando RD
Sylmar, CA 91342,12215 San Fernando RD
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,000,000
Est. payment /mo
16 Beds
9 Baths
4,549 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,549 sqft

Price per Sqft $659

MLS Listing ID 26639141

Bedrooms 16

HOA Y/N No

Year Built 1937

Lot Size 0.908 Acres

Property Description

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 0.91 acres (39,537 SF) parcel. In 2018, the property was renovated and two new units were added. Additional income is derived from truck parking. The parcel is zoned LA C2-2D-CPIO. 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 just adopted 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 affordable housing developer to acquire a sizable residential parcel eligible for expedited entitlement processing and continue to earn income.

Location

State CA

County Los Angeles

Area Syl - Sylmar

Zoning LA C2-2D

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features None

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

Read Less Info
CRMLS – RECore
Listed by Robert Leveen Robert Leveen

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