14008 Foothill Boulevard
Sylmar, CA 91342
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- – on site
We are excited to present 14008 Foothill Blvd, a 100% affordable development project in Sylmar, California. The 21,549 square foot (0.49 acres) site, zoned R3-1 does not currently hold any entitlements or permits which allows a developer many options. If going the 100% affordable route, a developer has the option to build unlimited units on the lot. Our analysis for 100% affordable development shows a 4-story apartment building over 1 level of on-grade parking and features a great unit mix 1 and 2 bedroom units. There is the opportunity to build even more by constructing 6+ floors and scrapping the parking. Being an ED1 eligible site allows an expedited approval process for 100% affordable developments which enables project approval within months. Current improvements include an occupied duplex on a month-to-month basis paying $3,775 per month. This allows a buyer to obtain a loan while working to get their entitlements and permits in place.This development site benefits from strategic positioning within Sylmar, CA. Boasting proximity to essential amenities, including schools, shopping centers, and recreational facilities, the site offers residents convenient access to daily necessities and leisure pursuits. Additionally, its favorable locale within the greater Los Angeles area ensures connectivity to major transportation routes, enhancing accessibility for residents commuting to neighboring districts. Such attributes underscore the desirability and viability of this investment opportunity within a burgeoning market for affordable housing. Moreover, the site's surroundings encompass a burgeoning community characterized by ongoing urban development and economic growth initiatives. As part of a dynamic neighborhood fabric, this investment holds promise for contributing to the local socio-economic landscape while addressing the pressing need for affordable housing solutions. In summary, this development site presents a compelling proposition for investors seeking to engage in socially impactful ventures within a burgeoning real estate market.
Listed By CRMLS_CA / Filip Niculete / Marcus & Millichap
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Last updated Apr 18, 2024
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MLS# 24378659 —
This property is listed in more than one place. See it here.
Walk Score®
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Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
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Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
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Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/10/24
Apr 10, 2024
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Listed / Active | CRMLS_CA | $2,200,000 |