6701 Woodley Ave
LAAA is pleased to present 6701 Woodley Avenue, a unique 17-unit multifamily / condominium development opportunity in prime Lake Balboa, CA. The property is comprised of approximately 0.29 acres (13,004 SF) lot area zoned R3-1-RIO. With rear alley access and current zoning, a developer can build up to 17 units “By Right.” If a developer plans to utilize a California State Density Bonus, one can potentially build up to 23 units.
6701 Woodley Avenue is ideally located in the epicenter of the South San Fernando Valley, which boasts high-profile demographics, dense immediate population, high barriers to entry, and strong market fundamentals yielding an investor/landlord favored market conditions with significant growth potential. Centrally located just north of the Ventura (101) Freeway, and conveniently positioned in the center of Lake Balboa’s acres of recreation, 6701 Woodley Avenue is surrounded by high-end neighborhoods, two of the most sought after shopping centers in Los Angeles County (Westfield Fashion Square and Sherman Oaks Galleria), and numerous high-profile office towers and residential developments nearby.
6701 Woodley Avenue is positioned only 3 miles from Ventura Boulevard, the primary east-west thoroughfare in the San Fernando Valley. Running 18 miles, Ventura Boulevard is the world’s longest avenue of contiguous businesses. It has always been a concentrated location for mom and pop shops and small businesses in the Valley; nowadays it has pockets of housing, mini malls, and shops, along with a wide assortment of businesses, schools, and other establishments. Homes south of Ventura are considered to be among the most expensive in Los Angeles County, ranging from $2 million to $50 million and home to numerous celebrities, executives, athletes, and entertainers alike..