14658 Gilmore St Los Angeles, CA 91411

This exceptional 9,225 square foot (0.21-acre) corner lot in Van Nuys, Los Angeles, CA (APN 2236-022-012) is fully ready-to-issue (RTI) for the construction of a five-story building comprising 48 affordable residential units. The project is designated as an ED 1, 100% affordable development, and is situated within a qualified Opportunity Zone, offering significant tax advantages to investors. The unit mix includes one studio, forty-three one-bedroom, three two-bedroom, and one three-bedroom apartment. Plans include a first-floor office and recreation room, and while zero parking is required due to proximity to public transit, the design incorporates ten parking spaces (three standard and seven compact). There's also potential for twelve additional accessory dwelling units (ADUs). The property's location in Van Nuys provides convenient access to major freeways (I-405 and US-101), offering easy commutes to downtown Los Angeles and Silicon Beach. The area boasts a diverse range of amenities, including dining, shopping, and recreational options. The asking price is $1,995,000, translating to a land value of $216.26 per square foot. This presents a compelling investment opportunity with potential for significant returns, particularly given the impending 2026 expiration of Opportunity Zone benefits. The property's location and the project's design are expected to benefit from ongoing development and gentrification in the area, leading to future rent growth.