Commerce.9938 — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: Los Angeles, CA 91042

Description

Marcus & Millichap is pleased to present a development opportunity located at 9938 Commerce Ave in Tujunga, a vacant lot on the corner of Tujunga Canyon Blvd & Commerce Ave • The 18,530 SF lot is zoned C2-1, allowing for 47 units by-right or up to 64 units through California’s Density Bonus program, offering developers multiple paths to maximize value • The site is also eligible for an ED-1 100% affordable housing project, giving a developer the opportunity to maximize density and decrease entitlement time • At the asking price, the property is being offered at a low $89 PSF with no tenants or leases in place • Rare opportunity to acquire land in the supply-constrained community of Tujunga—providing residents with convenient access to Sunland, La Cañada Flintridge, Pasadena, Glendale, Burbank, and the broader San Fernando Valley • Located in a submarket with strong demographics, the average household income within a 5-mile radius is over 113,000; there is a significant affordability gap between renters and homeowners as the median home value within 5 miles of the subject property is over $800,000 Investment Highlights: • The 18,530 SF lot is zoned C2-1, allowing for 47 units by-right or up to 64 units through California's Density Bonus program, offering developers multiple paths to maximize value • The site is also eligible for an ED-1 100% affordable housing project, giving a developer the opportunity to maximize density and decrease entitlement time

Market Context

This land in Los Angeles, CA is listed for sale. It has been on the market for 99 days. Compare it against other land listings for sale in Los Angeles, CA — view the full market.

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