9938 Commerce Avenue
Tujunga, CA 91042
0.43 acres | #24473415
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.
Property Details
- CountyLos Angeles
- Original List Price$1,850,000
- Property TypePurchase
- MLS #24473415
- MLS #24473415
- Cost1850000
- Acres0.4255
- Property SubtypeLand
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Neema Ahadian (#CLW-C104547)
Listing Office: Marcus & Millichap (#CLW-X7515101)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
