Executive Summary

DOWNLOAD OFFERING MEMORANDUM

• The Neema Group is pleased to present a development opportunity located at 9938 Commerce Ave in Tujunga, a vacant lot on the corner of Tujunga Canyon Blvd & Commerce Ave
• The lot totals 18,530 SF and is zoned C2-1, ideal for residential development with the potential to build 47 units by-right or up to 64 units by utilizing the California density bonus
• The site is also eligible for an ED-1 100% affordable housing project, giving a developer the opportunity to maximize density and decrease entitlement time
• At the asking price, the property is being offered at a low $108 PSF with no tenants or leases in place
• Rare opportunity to acquire a site in the supply constrained city of Tujunga, a location that gives residents a manageable commute to Sunland, La Cañada, Pasadena, Glendale, and throughout the San Fernando Valley
• Located in a submarket with strong demographics, the average household income within a 5-mile radius is over 113,000; there is a significant affordability gap between renters and homeowners as the median home value within 5 miles of the subject property is over $800,000