Daina Burness

North Hills CA Real Estate & Land for Sale

1 Properties Found

The median home value in North Hills, CA is $782,500. This is higher than the county median home value of $740,000. The national median home value is $277,796. The average price of homes sold in North Hills, CA is $782,500. Approximately 45.33% of North Hills homes are owned, compared to 47.42% rented, while 5.37% are vacant. North Hills real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you like to see a property, contact North Hills real estate agent to arrange a tour today!
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Lot size:
2.27 Acres
Courtesy: Francis Evanisko - Evanisko Realty & Investment
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Situated within a residentially dominated segment of North Sepulveda Blvd., the Valley Villas development opportunity will offer an extremely rare opportunity to acquire a site entitled for 100% market rate townhome condominiums in the North Hills neighborhood of the City of Los Angeles just a few blocks south of Mission Hills.The site has undergone a rigorous entitlement process extending nearly six years to reach a final state of entitlement which includes an approved general plan amendment, zone change, vesting tentative tract map, building line removal, and site plan review. Most recently, a modification to VTT and CPC cases was processed and approved to allow for project phasing (unit map) of what was initially a 75-unit entitled project into a 58-unit entitled project (phase) and a 17-unit entitled project (phase). ONLY THE 58 UNIT PHASE IS BEING OFFERED FOR SALE AT THIS TIME.The recent modification to the entitlements was exacted to allow for the phased recordation of the tentative map and effectuation of zone change conditions to enable the project to be built/sold/etc. in two separate phases as separate projects. Each phase is owned by a separate landowner. The modification required technical changes to the site plan, tentative map, conditions, etc. such that each phase meets guest parking, open space, and other technical requirements.The entitled land affords the perfect opportunity to deliver attainable housing at a location that will see little to zero new housing stock due to legislative changes which have eliminated the economic viability of zone changes previously required to entitle the swaths of agriculturally zoned real estate dominating the northerly San Fernando Valley submarkets. The Valley Villas represents perhaps the last vestige of the North San Fernando Valley’s pre JJJ/Pre-Linkage Fee entitlement environment. Both build-and-sell, and build-to-rent strategies are worthy of consideration for this project.Please contact Frank Evanisko for additional information regarding your interest in acquiring this development opportunity.

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Based on information from CRISNet MLS as of 10/20/2021. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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