PRICE: $1,550,000

 

28-Unit Development Opportunity​

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Ethan Donel, Alex Reyhan, and Daniel Hirth are pleased to present 6825 Kester Avenue, an exceptional shovel-ready multifamily development opportunity located in the heart of Van Nuys, California. The property is strategically positioned just off the corner of Vanowen Street and North Kester Avenue, within one of the most active and diverse submarkets in the San Fernando Valley.

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With RTI approved plans in place, a developer to immediately break ground on a 28-unit multifamily building priced at under $56,000 per buildable unit. The design includes twenty-three (23) primary residential units and five (5) fitness rooms with existing plumbing and infrastructure that can be converted into ADUs to reach the full 28-unit potential.

 

The property is zoned C1.5-1VL TOC Tier 3 with a FAR of 2.34:1, permitting 20,514 square feet of buildable area under the current plans. However, the maximum allowable FAR of 3.75:1 presents a rare opportunity for a developer to increase density, total buildable square footage, and unit count if desired.

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The property is also located within an opportunity zone which will allow a developer to receive federal tax incentives by investing their capital.

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Van Nuys continues to transform into a vibrant residential and mixed-use hub, driven by ongoing public and private investment. The area benefits from excellent accessibility to the 405 and 101 freeways and is anchored by major employment centers such as the Van Nuys Civic Center and Van Nuys Airport.

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With the upcoming Metro Light Rail extension along Van Nuys Boulevard - connecting the Orange Line to the City of San Fernando - the neighborhood is poised for long-term appreciation and sustained tenant demand from residents seeking transit-oriented, urban living in the core of the Valley.

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* If a buyer elects to convert the five (5) fitness rooms into ADUs, the total potential unit count increases to twenty-eight (28). Buyer to verify all information and conduct their own due diligence.