Brick+Work

Van Nuys 95k sq. ft. R4 Lot, 357 Potential Units

Van Nuys

Van Nuys 95k sq. ft. R4 Lot, 357 Potential Units

APN: 2235-004-010

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[Q]R4-1-RIO
Zone/District
357
Max Unit
94,918 sq. ft.
Lot Size
Tier 1
TOC
1
Lots
Existing Conditions
Floor Area 53,368 sq. ft.
Units 100
Year Constructed 1973
Assessed Improvement Value $3,358,099
Assessed Land Value $845,309
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

15 ft.

Side

5 ft.

add 1 ft. of side setback for each story over 2, not to exceed 16 ft.

Back

15 ft.

Max Buildable Area, Footprint 84,475 sq. ft.
Max Buildable Area, Envelope 253425 sq. ft.
Max Dwelling Units 237
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)
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 None required
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
Development Potential (with TOC or DB)
Maximum FAR 4.2:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

15 ft.

Side

3.75 ft.

add 1 foot of side setback for each story over 2, not to exceed 16 ft.

Back

15 ft.

Max Buildable Area, Footprint 85,837 sq. ft.
Max Buildable Area, Envelope 357,236 sq. ft.
Max Dwelling Units 357
Affordable Units Required at least 8% for Extremely Low Income, or 11% for Very Low Income, or 20% for Low Income
Parking Required Shall not exceed .5 space per bedroom
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 None required
Required Open Space Up to 20% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 1, TR 24408
Land Use General Commercial
Area Planning Commission South Valley
Community Plan Area Van Nuys-North Sherman Oaks
Neighborhood Council Van Nuys
Council District 6
Councilmember Nury Martinez
Red Flags
Per ORD-143733, vehicular access to Columbus Ave. shall be prohibited and the landscaped setback area along Columbus Ave. should be extended northerly to the north boundary of the subject property.
Property is subject to the River Improvement Overlay zone, which could limit the design of a project on the site.
Project is within a State of California Opportunity Zone, which could allow for tax incentives for a redevelopment project on this site.
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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

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