This prime 51,174 square foot C2-1VL-CPIO corner lot is currently occupied by month-to-month commercial tenants, generating around $27,000 in monthly rental income. The site presents a remarkable development opportunity, allowing for the construction of up to 173 residential units by density bonus or approximately 127 units by right, plus retail spaces. Located in the quickly evolving Sylmar area, the property is less than a mile from the planned Metro Station for the East San Fernando Valley Light Rail Transit Project. It is next to a 14-unit residential building built in 2011 and is opposite a bike path adjacent to the future Metro Line tracks, offering clear views of the mountains. Positioned within a Qualified Opportunity Zone, this enhances its investment appeal. The existing buildings cover roughly 18,550 square feet, though buyers are advised to verify all information independently. The sale includes two parcels: APNs 2604-024-002 and 2604-024-001.