Active

23024 Ventura Boulevard

Woodland Hills CA, 91364

$3,399,800


$96.29 per sqft

Active

35,309 sqft

Commercial

Listed by John 'Judd' Dunning with John Barker Dunning 310-261-8428

INVESTMENT HIGHLIGHTS:DWG Capital Group is proud to exclusively present the 6-parcel land assemblage at 23024-23026 Ventura Blvd, Woodland Hills, CA 91364 for sale. This undeveloped land property in Woodland Hills, California, presents an excellent multi-use development opportunity for investors and developers.DEVELOPMENT STATISTICS:The property is located at 23024-23026 Ventura Blvd and is zoned for C-1 use. It is situated on 6 parcels, totaling approximately 18,774 square feet, providing ample space for innovative design and construction. The proposed building would encompass a total area of 35,309 square feet, complying with a floor area ratio (F.A.R.) of 1 to 1. The development plan includes the construction of 40 units, consisting of 35 standard apartment units and 5 ground floor retail/office live/work spaces. The estimated cost is $84,995 per un-entitled unit, resulting in a total cost of $3,399,800. Buyer is encouraged to perform their own due diligence.EXCELLENT LOCATION:The property is situated in a highly desirable location in Woodland Hills, California. It is located between the popular Ventura Blvd and Highway 101 just east of Valley Circle Blvd, which offers easy access to various amenities, including shopping centers, restaurants, and entertainment options all near the Warner Center. The property is also conveniently located just a short walk from the Metro Local Line 161 at the Ventura/Caltrans Station, which provides access to public transportation. Additionally, the property is just minutes away from the higher-income area of Calabasas, which is known for its upscale residential communities, high-end shopping, and scenic surroundings.STRONG RENTAL SUB-MARKET:The area has over 187,000 residents, with an average household income exceeding $82,898 in the Northwest/Canoga Park, Winnetka & Woodland Hills area. Additionally, the location has an extremely robust workforce in its dense infill location, with a walk score of 89, indicating excellent walkability. The area is particularly attractive to millennial renters, with nearby projects such as The Q on Variel and The Q on Glade projects commanding rents of over $4.21 per square foot and other nearby projects benchmarking nearly $4+ per square foot rent. The growth and development in the submarket of Woodland Hills make it an attractive location for potential tenants and buyers, making it a highly competitive real estate market.

24364931

MLS ID

March 4, 2024

Listed

October 18, 2024

Updated

Map

23024 Ventura Boulevard
Woodland Hills CA, 91364

Interior Features

Total Stories

6


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.43 Acres


Lot Features

Over 40 Units/Acre, Planned Unit Development, Rectangular Lot, Rolling Slope, Value In Land

Other Property Details

Area Name

WHLL - Woodland Hills


Days on Market

147


Garage

No


Parking Total

55


View

No


County

Los Angeles


Pool

No


Zoning

LAC1

Listing Contact: 310-261-8428 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/18/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/18/2024 at 12:45 PM UTC

 

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