LAAATeam Acquires Development Site In Valley Village For $1.15M

An R3-1 zoned development site located at 12001 Magnolia Blvd in Valley Village has been sold for $1,150,000. The property spans 6,094 square feet and offers the potential for development with its zoning designation. The sale includes 16 units, resulting in a per unit price of $71,875. The price per buildable square footage (PPBSF) is estimated at $188.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,150,000
• Address: 12001 Magnolia Blvd
• Market: Valley Village
• Asset Type: R3-1 Zoned

The transaction was facilitated by the collaborative efforts of Filip Niculete, Glen Scher, Arash Memary, and Marije Kruythoff from the LAAATeam. These brokers represented the parties involved in the deal to ensure a smooth transaction.