CLOSED ESCROW
LAND-MULTI-FAMILY
15566 Rayen Street
NORTH HILLS, CA 91343
PRICE:
PRICE/SF LAND:
PRICE PER BUILDABLE UNIT:
UNITS:
$1,250,000
$63.80
$40,322
31
THE ASSET
The Hirth Group is proud to present a unique opportunity to build a 31-unit multifamily project (27 market rate and four very low income units over one level of parking) with frontage on Rayen Street in the North Hills region of the San Fernando Valley.
The site consists of one parcel totaling approximately 19,550-square feet, or (0.45) acres. Architectural and Structural Plans are currently in plan check at the (LADBS).
The subject property is conveniently and discreetly located adjacent to the 405 San Diego Freeway and within minutes of Interstate 5, the 118 and 101 Freeways. In addition, this property is in close proximity to shopping, entertainment, employment, and the thriving California State University Northridge (CSUN).
DEAL HIGHLIGHTS:
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RTI Permits
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27 Market Rate Units and 4 Very Low Income Units
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Multiple Offers
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Sold At 96% of List Price
ASSET HIGHLIGHTS
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Rare Development Opportunity
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One of the Last Undeveloped Properties in the Vicinity
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Densely Populated Area
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Close Proximity to (CSUN) Northridge and Mission Hills
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High Barrier to Entry-Infill Location with Over 700,000 Residents in the Surrounding Area
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Centrally Located with Ease of Access to the 405, 5, and 118 Freeways