±1.84 Acre Development Site : Zone LAC2-1-CPIO
13260 Maclay Street
Sylmar, CA 91340
OFFERING METRICS
LISTING PRICE
$7,500,000
LOT SIZE
±80,199 SF
PRICE PER SQUARE FOOT (LOT)
$93.52
PRICE PER UNIT (MARKET)
$27,675
PRICE PER UNIT (AFFORDABLE)
$20,718
PROPERTY OVERVIEW
Located on Maclay Street, this development opportunity currently consists of 22 apartments units on a large ±80,199 square foot lot. Currently, the asset maintains 100% occupancy and offers an income while the developer works through their entitlement process.
Zoned LAC2-1-CPIO, a new developer will have the opportunity to build up to 1 unit per 400 square feet of land area. As a market rate development, a developer will have the opportunity to build up to 271 units (Buyer to verify) using the California state density of 35%. As a 100% affordable site, a developer has the option to utilize AB-1763 to achieve an 80% increase in density which increases total density allowance to 362 units (Buyer to verify).
13260 Maclay Street is centrally located with easy access to 210, 5, 405 Freeways, and Highway 118. Furthermore, the development site is within close proximity to many of the areas largest retailers including Smart & Final Extra!, The Home Depot, Office Depot, and the San Fernando Swap Meet.
OPPORTUNITY HIGHLIGHTS
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Large development site consisting of ±80,199 SF
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Market rate development allowance of up to 271 units (Buyer to verify)
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100% affordable development allowance of up to 362 units (Buyer to verify)
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Current improvements include a 22-unit apartment complex offering income to a developer during the entitlement process
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Located in a CTCAC Moderate Resource Tract
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Located in the Mixed-Use Corridor CPIO Area of Sylmar which requires ground floor commercial of ±10,350 SF along Maclay Street (Buyer to Verify).
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Easy access to Freeways and Retailers
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Low price per buildable unit for a San Fernando Valley development site