6479 van nuys Boulevard
van nuys, CA 91401
Ethan Donel, Alex Reyhan, and Daniel Hirth have been exclusively selected to market for sale 6479 Van Nuys Boulevard. The asset is strategically located on the hard corner of Van Nuys Boulevard and Hamlin Street near Van Nuys City Hall. Situated on a large corner lot, this property provides great utility for an owner/user looking to take advantage of the impeccable location and/or a developer looking to build on the lot with TOC Tier 4.
6479 Van Nuys Boulevard is being operated as the “Bazaar Swap Meet” a staple of the community and home to many small business owners. The subject property stands on the corner of Van Nuys Boulevard and Hamlin Street at a total of ±13,000 SF of building with a total land square footage of ±22,000 SF. An owner user can occupy 51% of the building to qualify for SBA financing while only putting 10% down and taking advantage of historically low interest rates!
With many new developments in the immediate area, this opportunity will allow a developer to build up to 99-units. The subject property is zoned (Q)C2-1L-CDO TOC Tier 4 with a FAR increase of 4.25:1, allowing roughly ±93,500 buildable square footage. The property is also located within an opportunity zone which will allow a developer/investor to receive federal tax incentives by investing their capital. With an attractive price per unit of $55,556 per buildable SF, this boasts a developer the opportunity to build on a large, signalized corner lot.
Van Nuys is in the central San Fernando Valley region of Los Angeles and is strategically located near pockets of economic and development activity. It is home to the Van Nuys Airport and the Valley Municipal Building and is the only neighborhood in the San Fernando Valley with a population exceeding 100,000 residents. Downtown Van Nuys is growing daily with many jobs opening back up and plenty of Rapid Transit options, including a very-likely-to-happen Metro Light Rail Project down the center of Van Nuys Blvd. that is meant to run from the Orange Bus Line to the south and the City of San Fernando to the north and with a possible connection to the Sepulveda Pass Transit Corridor.