18528 CHASE STREET
NORTHRIDGE, CA 91324
PRICE PER UNIT:
28 Buildable Condominiums
Great Northridge Location
Tentative Tract Map Number 68886-CN, Approved July 2, 2008
Lender Owned Asset
Limited Number of Competitive/Comparable Products and Development in Pipeline
Close to Major Employment Including Cal State Northridge (CSUN), Northridge Hospital, and Northridge Fashion Mall
Great Demographics with Over Half a Million Residents Within a Five-Mile Radius
Proximate to Two Major Airports Including Los Angeles International Airport (LAX) and Bob Hope Airport (BUR)
Strong Demographic Profile for First Time Buyers and Renters Aged 19 to 34
The Hirth Group is proud to present a rare development opportunity in Northridge, California, a neighborhood in the City of Los Angeles. Northridge has seen minimal new construction in the past 12 years. This lack of supply, coupled with a growing employment base, makes this a strong and compelling development opportunity.
The subject property offers a savvy investor/developer the opportunity to acquire approximately 19,436 square feet (0.44 acres) of buildable area. The property is currently zoned R3-1, with a tentative tract map approved for a maximum 28-unit condominium. The tentative tract map numbered 68886-CN was approved on July 2, 2008. Buyer to verify status.
Existing improvements include six units which generate income of $6,151.50 per month, or $73,818 annually, which allows an investor to enjoy income while processing the final tract map and permitting of the project.
18528 Chase Street is ideally located close to the 405, 101, and 118 Freeways while being discreetly nestled within the San Fernando Valley which houses over 1.8 million people. The valley is driven by major healthcare, bio-tech, financial, insurance, and entertainment companies, employing over 700,000 private sector employees.