Glen Scher
Senior Managing Director Investments
CalDRE #01962976
Glen Scher
Senior Managing Director Investments
CalDRE #01962976
5511 Ethel Ave, Sherman Oaks, CA 91401
An entitled 199-unit, 100% affordable ED1 development across from LA Valley College in Sherman Oaks.
Exclusively listed by the LAAA Team at Marcus & Millichap
- Listing Price
- $9,000,000
- Lot Size
- 41,810 SF · 0.96 AC
- Buildable Units
- 199
- Price / Buildable Unit
- $45,226
- Price / Land SF
- $215.26
- Zoning
- R1-1
- Entitlements
- Entitled
Offering
The Offering
5511 Ethel Avenue is a 41,810 SF development site in Sherman Oaks entitled for 199 units of 100% affordable housing under ED1 and Density Bonus / AB 1763 (case ADM-2023-3809-DB-VHCA-ED1). The R1-1 parcel carries a rare overlay stack, TOC Tier 3 and AB 2097 within a quarter mile of high quality transit, allowing multifamily density with zero required parking. The plan still delivers 147 voluntary stalls alongside Type IA/IIIA all-electric construction, EV-ready parking, and full NFPA-13 sprinklers. The parcel also carries a federal Difficult Development Area designation, TCAC Moderate Income status, and SB79 Tier 2 eligibility. The offering pencils to $45,226 per buildable unit and $215 per land SF.
- 01
Entitled 199-unit, 100% affordable development under ED1 and Density Bonus / AB 1763
- 02
R1-1 parcel with TOC Tier 3 and AB 2097, zero required parking within a half mile of major transit
- 03
147 voluntary on-site parking stalls preserved for tenant appeal and community fit
- 04
$45,226 per buildable unit and $215 per land SF on a 41,810 SF lot
- 05
Type IA/IIIA all-electric construction with EV-ready stalls and full NFPA-13 sprinklers
- 06
Directly across from Los Angeles Valley College with no on-campus housing
Gallery
Inside the Offering
5511 Ethel Ave, Sherman Oaks, CA 91401
Location
Location & Neighborhood
5511 Ethel Ave, Sherman Oaks, CA 91401
5511 Ethel sits at Ethel Avenue and Albers Street in Sherman Oaks, directly across from Los Angeles Valley College, one of the region's largest commuter colleges with no on-campus housing and a deep source of affordable rental demand. The site is within a quarter mile of a major transit stop on the Metro G Line busway corridor, the designation that unlocks its TOC Tier 3 and AB 2097 benefits, and minutes from Ventura Boulevard retail and the Valley's employment corridors. New affordable product here serves a submarket where demand is proven and supply is structurally constrained.
Listing Team
Exclusively listed by the LAAA Team.
For site walks, zoning questions, or offer guidance, reach out directly.
Filip Niculete
Senior Managing Director Investments
CalDRE #01905352
Filip Niculete
Senior Managing Director Investments
CalDRE #01905352
Next Step
Ready to dig into the site?
Sign the Confidentiality Agreement to access the full Offering Memorandum for 5511 Ethel Ave, Sherman Oaks, CA 91401.
