Brick+Work

C2 Tarzana Property, 230 Potential Units with Density Bonus

Tarzana

C2 Tarzana Property, 230 Potential Units with Density Bonus

APN: 2164-014-002, 2164-014-003, 2164-014-013, 2164-014-014, 2164-014-015

$ 20M20000000

Print Friendly and PDF
$ 20000000
Print Friendly, PDF & Email
C2-1VLD, P-1VLD
Zone/District
230
Max Unit
123,024 sq. ft.
Lot Size
No
TOC
5
Lots
Existing Conditions
Floor Area 58,034 (combined)
Units 0
Year Constructed 1958-1989
Assessed Improvement Value $2,985,098 (combined)
Assessed Land Value $6,787,131 (combined)
Development Potential (By-Right)
Maximum FAR 1:1
Maximum Height
Feet

30 ft.

Per Specific Plan, roof structures may not exceed height limit

Stories

3

Buildings used entirely for residential uses (and ground floor commercial in RAS zones) are only limited in height, not stories.

Minimum Setbacks
Front

1.5 ft. for first 15 ft in height, then 0 ft. thereafter. Maximum setbacks apply

Each lot shall have a maximum Front Yard of 20 feet for a minimum of 50 percent of the length of the front lot line. The balance of the lot line may have a maximum Front Yard of 60 feet, or a Front Yard equal to the average of all existing structures on the block in which the lot is located, whichever is less.

Side

5 ft.

Setbacks required for residential stories; add 1 foot of side setback for each story over 2, not to exceed 16 ft.;

Back

N/A

P zoned portion of site does not permit residential uses

Max Buildable Area, Footprint 65,272 sq. ft.
Max Buildable Area, Envelope 65,272 sq. ft.
Max Dwelling Units 169
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 habitable rooms 2 spaces per unit with more than 3 habitable rooms 1 space per guest room (first 30) SEE SPECIFIC PLAN FOR ADDITIONAL COMMERCIAL PARKING REQUIREMENTS
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations Portions of Buildings in C or M zones with certain distances of RW1 or more restrictive zones shall not exceed the following limits: Distance (ft.) Height (ft.) 0-49 25 50-99 33 100-199 61
Required Open Space 100 sq ft per unit with less than 3 habitable rooms 125 sq ft per unit with 3 habitable rooms 175 sq ft per unit with more than 3 habitable rooms
Other Development Notes See Specific Plan for additional requirements. Lot Coverage for Neighborhood and General Commercial Areas: Buildings and structures shall cover no more than 60 percent of the lot area. Density calculation based on C zoned lots only. P zone does not permit by-right residential uses. Residential units can be developed in the P zone through a small lot subdivision. The resulting zone would take on the adjacent C2 zone restrictions.
Development Potential (with TOC or DB)
Maximum FAR 1.35:1
Maximum Height
Feet

41 ft. (+11 ft. from density bonus incentive)

Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.

Stories

4

Buildings used entirely for residential uses (and ground floor commercial in RAS zones) are only limited in height, not stories.

Minimum Setbacks
Front

1.2 ft.

Side

5 ft.

Eligible for decrease through bonus incentives; setbacks required only for residential stories; add 1 foot of side setback for each story over 2, not to exceed 16 ft.

Back

N/A

P zoned portion of site does not permit residential uses

Max Buildable Area, Footprint 65,272 sq. ft.
Max Buildable Area, Envelope 88,117 sq. ft.
Max Dwelling Units 230
Affordable Units Required at least 11% for Very Low Income, 20% for Low Income, or 40% for Moderate Income (for sale only)
Parking Required 1 space per unit with 0-1 bedrooms; 1.5 spaces per units with 2-3 bedrooms; 2.5 spaces per units with 4 or more bedrooms
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations Portions of Buildings in C or M zones with certain distances of RW1 or more restrictive zones shall not exceed the following limits: Distance (ft.) Height (ft.) 0-49 25 50-99 33 100-199 61
Required Open Space Eligible for decrease through bonus incentives
Other Development Notes Density calculation based on C zoned lots only. P zone does not permit by-right residential uses. Residential units can be developed in the P zone through a small lot subdivision. The resulting zone would take on the adjacent C2 zone restrictions.
Jurisdictional
Legal Description Lots 1 (Arbs 1-2), 2, 3 & 4, TR 23769
Land Use Community Commercial
Area Planning Commission South Valley
Community Plan Area Encino - Tarzana
Neighborhood Council Tarzana
Council District 3
Councilmember Bob Blumenfield
Red Flags
Property is subject to the requirements of the Ventura/Cahuenga Boulevard Corridor Specific Plan, which could limit the development potential of the site
Per Ord No.164203, the total floor area contained in all the buildings on the subject property shall be limited to a floor/area ratio not to exceed 1:1, as defined in Section 12.21.1
Existing "Corbin Bowl" sign listed under SurveyLA as an eligible historic resource.
BRICK+WORK Analyzer
Calculator
Please Enter Land Cost.
Please Enter Average Rents in Area.
Ask Administrator to enter the required values for the calculation of Financial Analyser.
Particulars By-Right TOC or DB
Total Buildable
Net Buildable
Average Construction Cost
Total Construction Budget
Total Soft Costs
Total Development Budget
Gross Annual Rents
Expenses (25%)
NOI
Valuation
Equity After Completion
Equity Multiple
IRR

Property Report Disclaimer

All data are obtained from government sources. No attempt has been made to verify the data’s accuracy.

This report is for informational purposes only. Do not rely on this report to support real estate or investment decisions. The only authoritative source for the information in this report is the government agencies from which the data was obtained.

By publishing this property, you represent and warrant that you have obtained the authorization from the property owner to market this property AND to take actions on behalf of the property owner.