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Listings

10154 HILLHAVEN Avenue

Tujunga, CA

Sold for $1,275,000

  • Lot Area 12009 sq ft.
  • Floor Area 0 sq ft.
  • Bed 0
  • Baths 0
  • Year Built
  • Zip Code91042

We are pleased to present 10154 Hillhaven Ave located in Tujunga, California. Current improvements consist of a 4-unit building totaling 2,649 square feet of rentable area. This 12,009 square feet lot, zoned R3-1, allows a developer the opportunity to build 15 units by-right or up to 22 units with its allowable density bonus. The neighborhood lies between the Verdugo Mountains and the San Gabriel Mountains. It is contiguous on the east with La Crescenta- Montrose. Sunland and Tujunga are divided by Mount Gleason Avenue, with Sunland on the west and Tujunga on the east. Mount Lukens, located within Tujunga, is the highest point in Los Angeles.The site is zoned R3, allowing a developer many options when designing the project. By right, the zoning allows for 15 units with a 33-foot height limit and a building envelope of 24,500 square feet. A developer can build 22 units with the allowable density bonus and go as high as 44 feet and a building envelope of 33,971 square feet. The only requirement to receive this bonus is to designate at least 11% for very low income or 20% for low income.Lastly, this property generates over $4,500 per month in gross rental income, helping the buyer offset the carrying costs. Also, since this property has 4-units, it qualifies for residential financing. With today's historically low interest rates, the buyer would only need a 25% down payment to get a 5-year ARM mortgage with a rate as low as 3.25%.

Location

Raffi Soualian, JohnHart Real Estate *Based on information from the Association of REALTORS/Multiple Listing as of Aug 11 2022 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property may have been sold while Agent was with another brokerage, and may have represented the buyer in this transaction.

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