14008 Foothill Boulevard, Sylmar
Sylmar Home For Sale
We are excited to present 14008 Foothill Blvd, a 100% affordable development project in Sylmar, California. The 21,549 square foot (0.49 acres) site, zoned R3-1 does not currently hold any entitlements or permits which allows a developer many options. If going the 100% affordable route, a developer has the option to build unlimited units on the lot. Our analysis for 100% affordable development shows a 4-story apartment building over 1 level of on-grade parking and features a great unit mix 1 and 2 bedroom units. There is the opportunity to build even more by constructing 6+ floors and scrapping the parking. Being an ED1 eligible site allows an expedited approval process for 100% affordable developments which enables project approval within months. Current improvements include an occupied duplex on a month-to-month basis paying $3,775 per month. This allows a buyer to obtain a loan while working to get their entitlements and permits in place.This development site benefits from strategic positioning within Sylmar, CA. Boasting proximity to essential amenities, including schools, shopping centers, and recreational facilities, the site offers residents convenient access to daily necessities and leisure pursuits. Additionally, its favorable locale within the greater Los Angeles area ensures connectivity to major transportation routes, enhancing accessibility for residents commuting to neighboring districts. Such attributes underscore the desirability and viability of this investment opportunity within a burgeoning market for affordable housing. Moreover, the site's surroundings encompass a burgeoning community characterized by ongoing urban development and economic growth initiatives. As part of a dynamic neighborhood fabric, this investment holds promise for contributing to the local socio-economic landscape while addressing the pressing need for affordable housing solutions. In summary, this development site presents a compelling proposition for investors seeking to engage in socially impactful ventures within a burgeoning real estate market.
Property Details
Additional Information
-
- City:
- Sylmar
-
- County:
- Los Angeles
-
- Zip:
- 91342
-
- MLS® #:
- 24378659
-
- Lot Size:
- 0.49
-
- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of July 15th, 2024 at 12:56pm PDT. 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, 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.