Address: |
view address Tujunga, CA 91042 Map Location |
Square Feet: | 18,534 sq.ft. |
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Lot Size: | 0.43 acres | Year Built: | 2000 |
Property Type: | Land | County: | Los Angeles |
List Date: | 2024-02-13 | Listing Number: | 24357865 |
Listed By: | Marcus & Millichap | Days on market: | 78 |
9938 Commerce Ave in Tujunga a premier development opportunity. Positioned on the corner of Tujunga Canyon Blvd and Commerce Ave, this vacant lot spans 18,530 square feet and is zoned C2-1, making it a prime candidate for residential development. It offers the potential to construct up to 47 units directly orexpand to 64 units by leveraging the California density bonus.Furthermore, this site qualifies for an ED-1 100% affordable housingproject, providing an exceptional chance for developers to enhancedensity and streamline the entitlement process. Offered at a competitiveprice of just $108 per square foot, this property comes free of any existingtenants or leases, presenting a seamless opportunity for development.This lot represents a rare find in the supply-limited city of Tujunga,positioned advantageously for residents who value manageablecommutes to Sunland, La Caada, Pasadena, Glendale, and thewider San Fernando Valley. Situated in a submarket known for itsrobust demographics, the area boasts an average household incomeexceeding $113,000 within a 5-mile radius, alongside a noticeableaffordability gap where the median home value exceeds $800,000. Thisgap highlights the substantial demand for more accessible housingoptions, underlining the significant potential for investment anddevelopment at this unique location.
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.