6738 De Celis Place 1.18 Acres of Residential Land Offered at $6,056,507 CAD in Van Nuys, CA 91406

Evanisko Realty & Investment, Inc., as exclusive advisor, is pleased to present the opportunity to acquire fee simple interest in 51,558 Sq. Ft. of land in the Lake Balboa neighborhood of the City of Los Angeles.
One in a million flat, vacant, corner parcel in a residential setting. A never developed generational land holding.
The parcel is walking distance to one of Los Angeles’ largest recreation amenities; Sepulveda Basin. The development of multiple residential product typologies are possible on the site from traditional single family to dense forms of deed restricted apartments leveraging CHIP/AHIP.
Market rate 1-bed asking rents in adjacent 1980’s construct building “Terraces at the Lake” range $2400-$2600.
JZA Architecture has conducted a yield study affirming viability of a nearly 1:1 ratio grade-level parked (podium and surface) 132-unit type V apartment building with 132 comfortably sized units. Using the City’s Affordable Housing Incentive Program (AHIP) the project will be ministerially processed using Expanded Administrative Review.