|Image courtesy Google Maps|
Urbanize.LA and SFVBJ are both reporting that the shuttered Galaxy Car Wash at 12444 West Chandler Blvd has plans for a mixed use development consisting of a five story - 70 residential units, 1,750 sqft of ground floor commercial space, and a two level garage for parking up to 80 vehicles.
The property measures 27,942 sqft with a 4,800 sqft building built in 1973 that last changed hands on December 31, 2014 for $3,650,000. The buyer was Chandler Village LLC owned by Yaron and Yael Levy Revocable Trust who also own or have owned some other properties in North Hollywood, Valley Village, and other parts of LA. They purchased from Sofi Wilczynski who last purchased on June 10, 1998 for $343,000 from the Kmiotek Trust.
To provide an indication of the demand for development opportunities, the broker marketed this site with a value of $3.35 million and "I had 19 offers and could have gotten more, but a lot decided not to (submit offers) knowing how many I had" said, Stacy Vierheilig-Fraser, broker for Charles Dunn Co.
It also helps that the property is 2 steps away from the Orange Line making this a no brainer. This development is still subject to a hearing but is probably a slam dunk .
You can view more SFV Architecture and R.E. here.
|Image courtesy Bing Maps|
|Above images courtesy Google Maps|
|Image courtesy Loopnet|