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11222 Ventura Blvd - Motivated Seller - Ventura Boulevard Land
0.22 Acres of Commercial Land Offered at $2,275,200 CAD in Studio City, CA 91604
Investment Highlights
- Excellent visibility and frontage along Ventura Boulevard
- Direct access to the 101 and 170 Freeways
- Adjacent to major Studio City potential developments on or near Ventura Blvd like The Residences at Sportsmen’s Lodge and Harvard Westlake River
- Daily traffic counts north of 45,000 vehicles per day along Ventura Boulevard
- Nestled between major cross streets of Tujunga and Vineland Avenues
- Within walking distance to the key shopping centers Studio City Place and Studio Plaza with retailers Ralphs, Starbucks, Rite Aid, Marshalls, Michaels
Executive Summary
11222 Ventura Boulevard is two parcels of unimproved land along the Boulevard most notably between Tujunga and Vineland Avenues. Plans have been drafted for a mixed-use project utilizing the property’s excellent 68’ of frontage along Ventura boulevard and its alleyway to the rear. If executed, the project calls for twenty (20) surface parking
spaces with a roughly 7,400 square foot retail/office space above. This unique land development opportunity also incorporates two, two-bedroom apartment units above the commercial space with their own dedicated two-car covered garages and large outdoor patio space overlooking Ventura Boulevard and Studio City.
11222 Ventura Boulevard falls under the boundaries of the Ventura/Cahuenga Boulevard Corridor Specific Plan. Currently classified in the neighborhood and general commercial subarea, the property is restricted to a by-right height of 30 feet and a 1.00 FAR however these development standards have potential to change with the adoption of the highly anticipated Ventura/Cahuenga Boulevard specific plan amendment. While the date of release for the updated specific plan is not yet known, the goal
is to modernize regulations and speed up the project review process in order to support small businesses along the Valley’s premier commercial corridor. In addition, the property enjoys a by-right density of 1 unit per 400 square feet of land, providing the ability to develop up to 24 units. While not currently in a City of Los Angeles Transit Oriented Community (TOC) zone, new developments at 11222 Ventura Boulevard can take advantage of California state density bonuses, providing a menu with a variety of
development incentives.
The property benefits from excellent access to the 101 and 170 Freeways, offering broader contact to all reaches of the San Fernando Valley as well as Hollywood and Downtown Los Angeles. This unique land development opportunity enjoys more than 68’ of visibility and frontage and daily traffic counts exceeding 45,000 vehicles per day
along Ventura Boulevard.
Property Facts
1 Lot Available
Lot
| Price | $2,275,200 CAD | Lot Size | 0.22 AC |
| Price Per AC | $10,578,242 CAD |
| Price | $2,275,200 CAD |
| Price Per AC | $10,578,242 CAD |
| Lot Size | 0.22 AC |
Plans have been drafted for a mixed-use project calling for twenty (20) surface parking spaces with a roughly 7,400 square foot retail/office space above.
Description
Plans have been drafted for a mixed-use project utilizing the property’s excellent 68’ of frontage along Ventura boulevard and its alleyway to the rear. If executed, the project calls for twenty (20) surface parking spaces with a roughly 7,400 square foot retail/office space above. This unique land development opportunity also incorporates two, two-bedroom apartment units above the commercial space with their own dedicated two-car covered garages and large outdoor patio space overlooking Ventura Boulevard and Studio City.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $94,729 CAD | |
| Land Assessment | $717,271 CAD | Total Assessment | $812,001 CAD |
PROPERTY TAXES
zoning
| Zoning Code | C2-1VL-RIO |
| C2-1VL-RIO |
Presented by
11222 Ventura Blvd - Motivated Seller - Ventura Boulevard Land
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