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13840 Sherman Way, Van Nuys, CA 91405

13840 Sherman Way, Van Nuys, CA 91405

86 Units, 100% Affordable, Delivered RTI in Van Nuys

Exclusively listed by the LAAA Team at Marcus & Millichap

Listing Price
$3,500,000
Lot Size
45,755 SF · 1.05 AC
Buildable Units
86
Price / Buildable Unit
$40,698
Price / Land SF
$76.49
Product
Apartments
Zoning
[Q]RD1.5-1 / R1-1, AB 2334 density bonus, AB 2097 no parking required
Entitlements
Delivered RTI at close of escrow

Offering

The Offering

An 86-unit AB 2334 density bonus affordable housing development site on 1.05 acres in Van Nuys, delivered Ready-to-Issue at close of escrow. Four stories of Type V-A wood frame, 57 on-site parking spaces, a recorded LAHD affordability covenant and a fully engineered plan set. A buyer closes on a permit-ready site and starts construction. Offered at $3,500,000, $40,698 per approved unit and $76.49 per land square foot.

  1. 01

    86 approved units under the AB 2334 density bonus, delivered Ready-to-Issue at close of escrow

  2. 02

    1.05-acre split-zoned site, [Q]RD1.5-1 and R1-1, averaged across both zones for a four-story Type V-A building

  3. 03

    57 on-site parking spaces where none are required under AB 2097

  4. 04

    Family-sized covenant mix: 21 studios, 50 one-bedrooms, 12 two-bedrooms and 3 three-bedrooms

  5. 05

    $40,698 per approved unit and $76.49 per land SF, 67% below the entitled-land comp average per land SF

  6. 06

    Future East San Fernando Valley Light Rail station at Sherman Way and Van Nuys Blvd, 0.8 miles west

Location

Van Nuys and the East San Fernando Valley

13840 Sherman Way, Van Nuys, CA 91405

The site sits within the Van Nuys-North Sherman Oaks Community Plan Area, one of the San Fernando Valley's most supply-constrained rental corridors. In ZIP 91405, roughly 73% of occupied housing is renter-occupied and the median household income of about $63K sits well below the county figure, underpinning deep demand for covenant-restricted product at 80% and 110% of AMI. The East San Fernando Valley Light Rail Transit Project brings fixed rail up Van Nuys Boulevard, with the Sherman Way station 0.8 miles west of the site on the property's own corridor. Van Nuys Civic Center, Kaiser Permanente Panorama City and Valley Presbyterian Hospital are all within two miles.

Listing Team

Exclusively listed by the LAAA Team.

For site walks, zoning questions, or offer guidance, reach out directly.

Next Step

Ready to dig into the site?

Sign the Confidentiality Agreement to access the full Offering Memorandum for 13840 Sherman Way, Van Nuys, CA 91405.

LA Apartment Advisors

The LAAA Team

Marcus & Millichap

All property showings are by appointment only.

This information has been secured from sources believed to be reliable, but no representations or warranties, expressed or implied, are made as to the accuracy of the information. References to square footage, age, or income are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. All property showings are by appointment only.

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