New Listing
Description
**RARE 1.5-ACRE DEVELOPMENT OPPORTUNITY - THREE CONTIGUOUS LOTS, THREE EXISTING SINGLE-FAMILY HOMES, ENDLESS POSSIBILITIES!** An exceptionally rare offering in the heart of the San Fernando Valley, featuring approximately 65,380 square feet of combined land across three separate parcels at 18218, 18210, and 18204 Strathern Street. Each parcel features its own existing single-family residence, all individually rented on a month-to-month basis, providing an opportunity for rental income while exploring future development possibilities. All three homes and their existing tenancies are included in the sale. This unique assemblage presents an exceptional opportunity for developers, builders, and investors to capitalize on a substantial landholding with multiple potential development strategies. Explore the possibilities of a multifamily residential community of approximately 20-30 units, a planned subdivision of approximately 10 homes, or retaining the three existing residences while exploring the addition of up to four ADUs per parcel, potentially creating 15 residences across the property. The expansive combined land area offers the opportunity to envision an entirely new residential community in an established San Fernando Valley neighborhood. Whether pursuing a larger residential development or maximizing the potential of each individual parcel, opportunities of this scale and versatility are increasingly difficult to find. **THREE PARCELS. THREE EXISTING HOMES. ONE EXTRAORDINARY OPPORTUNITY!** All three properties must be purchased together and are offered AS-IS, subject to existing month-to-month tenancies and applicable tenant rights. All development scenarios and architectural renderings are conceptual illustrations only and do not represent approved plans, entitlements, or guaranteed development potential. Buyer to independently verify zoning, density, permitted uses, subdivision feasibility, ADU eligibility, utilities, existing tenancies, and all development possibilities with the appropriate governmental agencies.
Details
| MLS # | GD26228923 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 6 |
| Listing Provided By | Latitude Real Estate & Invest | Saro Dilanchian |
Features
| Zoning | RA-1 / LARA |
|---|---|
| Acreage | 1.50 |
| Property View | None |
Exterior
| Lot Features | Lot Over40000Sqft |
|---|
Utilities
| Utilities | Cable Available, Electricity Available, Natural Gas Available, Sewer Available |
|---|
Location
| Community Features | Curbs |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Reseda |
| Zip Code | 91335 |
| Area | RES Reseda |
| Listing VS Median (in 91335) | |
Price: $4,490,000 low | high Med: $499,000 On site: 6 low | high Med: 83.5 | |
Market Activity 91335
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Reseda |
| Zip Code | 91335 |
| Area | RES Reseda |
| Listing VS Median (in 91335) | |
Price: $4,490,000 low | high Med: $499,000 On site: 6 low | high Med: 83.5 | |