7403 Topanga Canyon Boulevard

7403 Topanga Canyon Boulevard

Canoga Park, CA 91303

$800,000
Last Sold Price
4,979 / 0.11
Lot Size / Acres

Sold 12/10/21

Sold 12/10/21

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Description

We are pleased to present a development opportunity located at 7403 Topanga Canyon Blvd in Canoga Park proximate to the booming Warner Center. The property is located on 4,979 square feet of land and it benefits for alley access behind it and its corner lot location. An investor may be able to utilize TOC Tier 1 incentives to maximize the lots development potential and build 15 units. The property has conceptual drawings for a 15 unit apartment building with on grade parking and 4 stories above it....We are pleased to present a development opportunity located at 7403 Topanga Canyon Blvd in Canoga Park proximate to the booming Warner Center. The property is located on 4,979 square feet of land and it benefits for alley access behind it and its corner lot location. An investor may be able to utilize TOC Tier 1 incentives to maximize the lots development potential and build 15 units. The property has conceptual drawings for a 15 unit apartment building with on grade parking and 4 stories above it. The proposed unit mix will include (4) Studios, (8) One Bedroom Units and (3) 2 Bedroom Units. Two units will be Low Income and three units will be ADUs which will be converted into legal units after certificate of occupancy. With the lowest price per buildable unit of any multifamily development sites available to purchase in the San Fernando Valley, this project allows a developer to make a healthy profit. We estimate the future value of the project to be around $5,000,000. There is currently a vacant single family home located on the property, which can be rented, but more importantly there is no relocation of tenants or any rent control restrictions on the redevelopment. Should a developer not want to build the proposed project, the lot allows for 13 units by right and 21 units with the density bonus and as many as 26 units by designing for ADU conversion. Another development option would be to build 4 units and expedite the permitting process and break ground in a few months, since it would be classified as a residential project. Topanga Canyon Blvd is one of the busiest streets in the San Fernando Valley. Approximately 40,000 cars pass by this property as it connect many residents to the 101 Freeway to the south and the 118 freeway to the north. The San Fernando The San Fernando Valley consists of approximately 260 square miles, making it the largest geographic in the City of Los Angeles. With approximately 1.8 million residents, it is a densely populated area that as a standalone city, would be the seventh largest city in the United States. With the barrage of new hotels, residential buildings, Westfield Promenade, Westfields The Village, Westfield Topanga, and others still in the planning phase, nearby Warner Center is expecting a significant population increase between 2018 and 2025.
  1. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 7403 Topanga Canyon Boulevard

Zoning
LAC2
Parcel Number
2023004015
Area
Canoga Park (CP)
Lot Size Area
4979
Source Lot Size Area
Assessor
Assessor Parcel Number
2023-004-015
Directions
Canoga & Valerio

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352

Sold By Marcus & Millichap, Filip Niculete, DRE #01905352

Add your commute
LISTING UPDATED: 12/12/2021 05:24 PM

Property Details for 7403 Topanga Canyon Boulevard

StatusSold
MLS #21-790520
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size0.11 AC
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352

Sold By Marcus & Millichap, Filip Niculete, DRE #01905352

Add your commute

Building Information for 7403 Topanga Canyon Boulevard

Lot Size0.11 AC

Payment Calculator

$5,276 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,366

Property Taxes

$910

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7403 Topanga Canyon Boulevard

Community / Development
Community / Development
  • Senior Community: No
Structure Info
Structure Info
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Special Zoning: None
  • Lot Acreage: 0.1139
  • Lot Size Square Feet: 4979
  • Lot Size Dimensions: 45x110
  • Source Lot Size Dimensions: Vendor Enhanced
  • Telephone: 0.0
  • Cable: 0.0
Parking Details
Parking Details
  • Total Parking: 0
Lease Terms
Lease Terms
  • Entry Date: 10-01-2021

Property History for 7403 Topanga Canyon Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7403 Topanga Canyon Boulevard

Taxable ValueLand$615,672Additions$200,328Total$816,000
Tax Record2023$10,921 ($910 / month)
Home Facts
Beds3Total Finished SqFt945 SqFtAbove Grade Finished SqFt945 SqFtStories1Lot Size4,979 SqFtStyleSingle Family ResidenceYear Built1951ZoningLAC2CountyLOS ANGELESAPN2023-004-015

Schools near 7403 Topanga Canyon Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Canoga Park Elementary School
Public - K to 5
Christopher Columbus Middle School
Public - 6 to 8
Canoga Park Senior High School
Public - 9 to 12
Village Charter Academy
Charter - K to 5
Rating
School
Distance
Canoga Park Elementary School
PublicK to 5

Christopher Columbus Middle School
Public6 to 8

Canoga Park Senior High School
Public9 to 12

Village Charter Academy
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.