9701 Vesper Ave Los Angeles, CA 91402

Property Details for 9701 Vesper Ave

Property type

Land

Description

This exceptional investment opportunity presents a fully approved, 133-unit affordable housing project in Los Angeles, CA. Situated on a substantial 32,681 square foot corner lot, this ready-to-issue development boasts a highly efficient design, featuring 107 one-bedroom/one-bathroom and 26 two-bedroom/one-bathroom units, totaling approximately 73,277 square feet of rentable space. Amenities include ample recreation areas (one potentially suitable for a fitness center), a leasing office, a PATH office space, extensive bike storage, additional rentable storage, and 35 on-site parking spaces with potential for expansion. The project's design incorporates convenient alley access to the garage. Located in a quiet, low-density residential neighborhood near a storage business, this property benefits from its proximity to the upcoming East San Fernando Valley Light Rail Transit Project, with a planned station potentially less than half a mile away. This transit connection will provide easy access to the greater Los Angeles area via the Orange/G Line and Red/B Line, as well as MetroLink. The property's strategic location also offers convenient access to the 405 and 5 freeways, and is within walking distance of parks, supermarkets, restaurants, and Arleta High School. The area is experiencing significant growth, with the nearby Primestor High-Rise Complex Project adding 4.5 million square feet of residential, hotel, and commercial space. The asking price is $4,999,999, and the property includes two APNs: 2650-021-004 and 2650-021-005. This development presents a compelling investment opportunity in a rapidly developing area with high rental demand. The zoning is (T)(Q)C1-1 Tier 3 / (T)(Q)RD3-1.