List Price: $1.15M

Listing Status: Active

Original List Price: $1.2M

Days on Market: 0

3 Bedrooms · 2 Bathrooms · 1,552 sq ft

Property Type: Residential

Year Built: 1950

Lot Size: 8,623 sq ft

Private Pool: Yes

MLS Number: SR26186247

About This Property

JADU + SB-9 Development Opportunity | Canoga Park. An exceptional opportunity to own an approximately 8,623-square-foot corner property with an SB-9 Urban Lot Split currently nearing completion. The proposed split is designed to create two separately deeded single-family residential parcels, providing both existing residential utility and future development potential.The proposed 20957 Community St. parcel is approximately 5,174 square feet and includes a 2-bedroom, 1-bathroom home along with a converted 2-car garage configured as a 1-bedroom, 1-bath Junior ADU (JADU), separately addressed as 20955 Community St. The JADU provides additional flexibility for rental income, guests, extended family, or use as supplemental living space and is currently leased through June 2027. The proposed 8400 Independence Ave. parcel is approximately 3,450 square feet and has its own assigned address. An existing structure is located on the parcel, and there is already a permit for approximately 350 square feet on the SB-9 lot. The parcel is also planned for expansion into an approximately 1,500+ square-foot single-family residence, subject to final approvals and buyer verification.An additional potential benefit for a future buyer is the ability to structure financing with two separate deeds of trust, potentially allowing the two resulting parcels to be financed separately, subject to lender approval, title requirements, applicable laws, and final recordation of the SB-9 lot split. Per the Seller, the SB-9 process has received the required agency clearances, with the remaining Park (Quimby) fee being the final item outstanding prior to recordation of the final parcel map. With an existing JADU at 20955 Community St., an established lease, a nearly completed SB-9 lot split, an existing 350-square-foot permit, potential for additional residential development, and the potential for separate financing of the resulting parcels, this property offers a unique combination of current use and future upside in Canoga Park. Buyer is advised to independently verify all property information, including permits, approvals, square footage, JADU status, lease terms, SB-9 requirements, parcel configuration, addresses, financing options, deed-of-trust structure, and development potential with the appropriate agencies, lender, title company, and other qualified professionals.