12342 Osborne Pl
The LA Apartment Advisors are pleased to present 12342 Osborne Place, a unique “shovel ready” 26-unit townhouse development opportunity in the Pacoima neighborhood of Los Angeles, CA. This rare development offering will be delivered with permits pulled and paid, allowing a developer to begin construction right away.
In a qualifying Opportunity Zone, the offering is comprised of 43,532 SF (approx. 1.0 acres) of vacant land zoned (Q)RD1.5-1-CUGU. The lot is located on the East side of Osborne Place in the southeast section of Pacoima, surrounded by Shadow Hills, La Tuna Canyon, Sun Valley, and Arleta. This convenient San Fernando Valley neighborhood boasts commuter’s accessibility with the 5, 210, and 118 freeways within close proximity of the subject property.
The city of Pacoima is revitalizing the area by creating a pedestrian-friendly, community-oriented downtown along Van Nuys Blvd between Laurel Canyon Blvd and San Fernando Rd. Phase 1 of this plan has already been implemented, with traffic-slowing measures along Van Nuys Blvd. The city is working with the County of Los Angeles to obtain funding for the next stage of revitalization, which would include funding to improve the
facade of existing structures in this area, with the intention of creating a community oriented city center with a focus on the arts, shopping, dining and new nightlife opportunities.