3
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$1,850,000
Est. payment /mo
0.43 Acres Lot
Active
9938 Commerce Ave Tujunga, CA 91042
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UPDATED:
12/21/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-473415
Lot Size 0.426 Acres
Acres 0.4255
Property Description
We are pleased to present a premier development opportunity at 9938 Commerce Ave in Tujunga. Positioned on the corner of Tujunga Canyon Blvd and Commerce Ave, this vacant lot spans 18,530square 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 or expand to 64 units by leveraging the California density bonus. Furthermore, this site qualifies for an ED-1 100% affordable housing project, providing an exceptional chance for developers to enhance density and streamline the entitlement process. Offered at a competitive price of just $100 per square foot, this property comes free of any existing tenants or leases, presenting a seamless opportunity for development. This lot represents a rare find in the supply-limited neighborhood of Tujunga, positioned advantageously for residents who value manageable commutes to Sunland, La Canada, Pasadena, Glendale, and the wider San Fernando Valley. Situated in a submarket known for its robust demographics, the area boasts an average household income exceeding $113,000 within a 5-mile radius, alongside a noticeable affordability gap where the median home value exceeds $800,000. This gap highlights the substantial demand for more accessible housing options, underlining the significant potential for investment and development at this unique location.
Location
State CA
County Los Angeles
Area Sunland Tujunga
Zoning LAC2
Exterior
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Special Listing Condition Standard
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Marcus & Millichap
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