15226 Parthenia Street, Los Angeles, CA 91343

Property Description

AFFORDABLE HOUSING DEVELOPMENT OPPORTUNITY! 15226 Parthenia Street is a compelling affordable housing development opportunity in the heart of North Hills. This 18,339 SF lot presents a rare opportunity to develop a 100% affordable housing project within one of the Valley's most active and established affordable housing neighborhoods.Located within a mile of a Major Transit Stop and utilizing Citywide Housing Incentive Programs, this site has no maximum density and is otherwise only limited by FAR and Height. Based on these parameters, the site may accommodate approximately 100 residential units, subject to design efficiency and required development standards.The Property offers convenient access to Interstate 405, State Route 118, and major transportation corridors, including Sepulveda Boulevard and Nordhoff Street. The site also benefits from proximity to North Hills Community Park, public transportation, neighborhood retail, schools, healthcare facilities, and major employment centers throughout the San Fernando Valley and greater Los Angeles region.Pricing for this opportunity offers developers an attractive basis well below prevailing market land values for affordable housing projects. Affordable housing developers commonly pay between $50,000 and $100,000 per buildable unit for land, while 15226 Parthenia St is being offered at approximately $27,000 per potential unit. Buyer to independently verify all zoning, density, FAR, parking, entitlement, affordability program eligibility, development potential and governmental requirements.