8435 Orion Ave, North Hills, CA 91343

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Sold on 6/20/13: $450,000

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  • Lot:0.38 acres
  • Last Sold:Jun 2013 for $450,000
Description
Drive by only. Do not disturbed tenants. Property being sold based on the land value and development opportunity value only. Income has to be updated lower because the garage and land is no longer rented, as of June 1, 2012 only the main house is currently occupied and paying for $2,000/mo, however, the preliminary architecture plans said that it would fit 20 units with 12 units that are 2 bdrs of approximately 950 sq ft and 8 units that are 3 bdrs of approximately 1050 sq ft. Concept plans available via email, send an email to listing Agent requesting a copy request. Current zoning is RA- 1, a rezoning application was submitted and approved by city planning staff for R-3 zoning in 2008, however, due to down turn in market at that time the project stalled and final fees were not paid and application expired, but the city staff are readily open to re-application with indication of hardly any barriers or obstacles to obtaining R-3 rezoning. Please email any other questions to Listing Agent. Brokered And Advertised By: REAL ESTATE BROKER SERVICES Listing Agent: ERVIN FRISCO  MoreLess
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Foreclosures will be a factor impacting home values in the next several years. In the North Hills market, the number of foreclosures waiting to be sold dropped 45.3% in the last year. The number of unsold foreclosures is 18.8% higher than in Los Angeles, and 16.7% lower than the national average. This higher local number may prevent North Hills home values from rising as quickly as other regions in Los Angeles.

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