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Van Nuys C2/R3 Site, 96 Potential Units with Tier 4 TOC

Los angeles

Van Nuys C2/R3 Site, 96 Potential Units with Tier 4 TOC

APN: 2241-003-020 & 2241-003-001

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[Q]C2-1VL-CDO, [Q]R3-1-CDO
Zone/District
96 (63 in C2 zone + 33 in R3 zone)
Max Unit
25,990 sq. ft.
Lot Size
Tier 4
TOC
1
Lots
Existing Conditions
Floor Area 28,691 sq. ft. (combined)
Units 0 (combined)
Year Constructed 1956
Assessed Improvement Value $2,188,270 (combined)
Assessed Land Value $1,257,005 (combined)
Development Potential (By-Right)
Maximum FAR 1.5:1 in C2 zone, 3:1 in R3 zone
Maximum Height
Feet

45 ft.

Stories

3 in C2 zone, None in R3 zone

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

Minimum Setbacks
Front

0 ft.

Along Victory Blvd.

Side

5 ft.

R3 zone: add 1 foot of side setback for each story over 2, not to exceed 16 ft., C2 zone: setbacks required only for residential stories; add 1 foot of side setback for each story over 2, not to exceed 16 ft.; no side setback required for commercial only uses; no side setbacks required for mixed use project abutting street or alley

Back

15 ft.

Along Friar Street

Max Buildable Area, Footprint 22,090 sq. ft. (11,734 sq. ft. in C2 zone + 10,356 sq. ft. in R3 zone)
Max Buildable Area, Envelope 50,544 sq. ft. (19,476 sq. ft. in C2 zone + 31,068 sq. ft. in R3 zone)
Max Dwelling Units 51 (34 in C2 zone + 17 in R3 zone)
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 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
Development Potential (with TOC or DB)
Maximum FAR 4.25:1 in C2 zone, 4.65:1 in R3 zone
Maximum Height
Feet

78 ft.

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

6 in C2 zone, None in R3 zone

Minimum Setbacks
Front

0 ft.

Along Victory Blvd.

Side

5 ft. in C2 zone; 3.25 ft. in R3 zone

R3 zone: add 1 foot of side setback for each story over 2, not to exceed 16 ft., C2 zone: setbacks required only for residential stories; add 1 foot of side setback for each story over 2, not to exceed 16 ft.; no side setback required for commercial only uses; no side setbacks required for mixed use project abutting street or alley

Back

15 ft.

Along Friar Street

Max Buildable Area, Footprint 22,291 sq. ft. (11,734 sq. ft. in C2 zone + 10,557 sq. ft. in R3 zone)
Max Buildable Area, Envelope 103,337 sq. ft. (55,182 sq. ft. in C2 zone + 48,155 sq. ft. in R3 zone)
Max Dwelling Units 96 (63 in C2 zone + 33 in R3 zone)
Affordable Units Required at least 11% for Extremely Low Income, or 15% for Very Low Income, or 25% for Low Income
Parking Required No required parking
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 Within the first 25 feet of the property line abutting or across the street or alley from the RW1 or more restrictive zone the building height limit shall be stepped-back at a 45 degree angle as measured from a horizontal plane originating 25 feet above grade at the property line of the adjoining lot.
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lots 1, 2, 23, & 24, Block 52, TR 1200
Land Use Community Commercial, Medium Residential
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
Property is subject to the guidelines of the Van Nuys Central Business District Community Design Overlay, which could limit the development potential of the site.
Per ORD-174421, projects on this site are subject to the permanent Q Conditions of the Van Nuys Central Business District Community Design Overlay.
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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