7516 Sepulveda Boulevard Van Nuys, CA 91405
7516 Sepulveda Boulevard is a 7,013-square foot lot in Van Nuys, California that presents an excellent development opportunity. The property is located within an Opportunity Zone, which could allow for tax incentives for a redevelopment project on the site. Zoned LAR3, the lot could potentially be developed into five units with an estimated 6,500 total rentable square feet (buyer to verify). The property is located near the intersection of Sepulveda Boulevard and Saticoy Street, providing convenient access to the 405 Freeway, as well as nearby grocery, retail and dining options that include Target, Starbucks, CVS, WaBa Grill, and more. This area is a strong majority renter market where over 75 percent of housing units within one mile are renter-occupied. Additionally, the Van Nuys-Northeast San Fernando Valley submarket recorded a 5.2 percent increase in effective rents in the 12 months trailing 1Q2019, with a vacancy rate of 2.7 percent. 7516 Sepulveda Boulevard currently features a three-bed/two-bath house that is generating $2,061 per month in rental income.
|4 hours ago||Listing updated with changes from the MLS|
|3 months ago||Price changed to $845,000|
|4 months ago||Price changed to $997,000|
|4 months ago||Listing first seen online|
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.