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Description
Highly Coveted and Rare 4.5 Floor to area ratio (FAR) zoning, meaning you may be able to build up to ~22,500 square feet on this single lot, or buy in tandem with neighboring lot next door (6824 Variel, also for sale) for up to 45,000 Square footage build potential. No height restrictions on either lot. Refer to "Warner Center Specic 2035 Plan" - River District (page 53) for details on what you can build. The seller believes the use includes mixed-use on ground level with few limitations (see Appendix A for all the permitted uses, which are very broad). IMAGINE luxury condos and/or apartments with a high-end restaurant on the ground floor in a thriving and fast growing Los Angeles neighborhood that already has a ton of coveted shops, stores and restaurants nearby. Download and read article(s) contained in the "DOCS" section for what's in store for this community. "The 6800" which is the newer building at the corner of Variel and Vanowen is currently fully leased. The possibilities are endless and the future bright in this Warner Center River District prime lot, a stone's throw from the soon to be revitalized LA River. **BONUS: Have a good chunk of your mortgage paid [$2,500 monthly incoming rent; with the rented 2 bed/1 bath home currently on the premises] while getting your plans approved.** Since there's an income-generating single family home on the premises, you have more flexibility in financing options. Please note: photos of home and interior are not from this year.
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