23055 Del Valle Street,Woodland Hills,Los Angeles,Land

Property Description

INVESTMENT HIGHLIGHTS:DWG Capital Group is proud to exclusively present the 6-parcel land assemblage at 23055 Del Valle St, Woodland Hills, CA 91364 for sale. This undeveloped land property in Woodland Hills, California (a few blocks east of the Calabasas city limits and next door to the Bowlero bowling alley), presents an excellent multi-use development opportunity for investors and developers.DEVELOPMENT STATISTICS:The property spans a total of approximately 30,599 square feet across 6 parcels providing a highly flexible multi-use residential zoned development opportunity where each parcel could be sold for profit individually or as a whole. Zoned for residential R-1 use, each parcel allows for the construction of 4 units (24 units total). The proposed plans include a 2,988 square foot, 2-story duplex featuring 4 bedrooms and 3 bathrooms, complete with a 2-car garage in the first unit. The second unit of the duplex spans 903 square feet and includes 2 bedrooms, 2 bathrooms, and its own 2-car garage. Further enhancing each parcel are two more 2-story Accessory Dwelling Units (ADUs), each spanning 985 square feet and offering 2 bedrooms, 2.5 bathrooms, and 2 outdoor parking spaces. This arrangement not only accommodates parking for up to 6 vehicles per parcel (36 parking spots total). Ideal for portfolio cashflow generation as single rentals or a co-living community 23055 Del Valle St offers a superior location product and opportunity for a best-of-class developer or investor.EXCELLENT LOCATION:The property is situated in a highly desirable location in Woodland Hills, California. It is located between the popular Ventura Blvd and Highway 101 just east of Valley Circle Blvd, which offers easy access to various amenities, including shopping centers, restaurants, and entertainment options all near the Warner Center. The property is also conveniently located just a short walk from the Metro Local Line 161 at the Ventura/Caltrans Station, which provides access to public transportation. Additionally, the property is just minutes away from the higher-income area of Calabasas, which is known for its upscale residential communities, high-end shopping, and scenic surroundings.STRONG RENTAL SUB-MARKET:The area has over 187,000 residents, with an average household income exceeding $82,898 in the Northwest/Canoga Park, Winnetka & Woodland Hills area. Additionally, the location has an extremely robust workforce in its dense infill location, with a walk score of 89, indicating excellent walkability. The area is particularly attractive to millennial renters, with nearby projects such as The Q on Variel and The Q on Glade projects commanding rents of over $4.21 per square foot and other nearby projects benchmarking nearly $4+ per square foot rent. The growth and development in the submarket of Woodland Hills make it an attractive location for potential tenants and buyers, making it a highly competitive real estate market.