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7650 Van Nuys Boulevard
Van Nuys, CA 91405

Price: $8,000,000 Zoning: C2-1VL
Land SF: 30,156 SF Price/Land SF: $265
Proposed Units: 124 Units TOC: Tier 3
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Price: $8,000,000
Land SF: 30,156 SF
Price/Land SF: $265
Zoning: C2-1VL
TOC: Tier 3
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Investment Highlights

Excellent Multifamily RTI Development Opportunity

  • 124-unit RTI multifamily development site located on Van Nuys Boulevard north of Saticoy Street
  • 30,155 square foot lot featuring 190 feet of frontage along highly trafficked Van Nuys Boulevard which sees an average daily traffic count of 30,870 vehicles per day
  • The project would feature 124 multifamily units (13 of which are affordable units): 8 studio units, 103 one-bedroom units, and 13 two-bedroom units
  • The project is slated for 122,313 buildable square feet, including 18,097 square feet of on grade parking, and 22,626 square feet of subterranean parking
  • The project will be highly amenitized with a 515 square foot fitness center, 636 square foot media room, 117 square foot office, 666 square foot recreation room, and a pool and spa

 

Strong Location along the East San Fernando Valley Light Rail Transit Project

  • The Light Rail Project is slated to be a 9.2-mile project connecting the Van Nuys Metro “G” (Orange) Line Station with the Sylmar/San Fernando Metrolink Station
  • The project will make ease of transportation throughout the East San Fernando Valley easy, with an end-to-end travel time of 31 minutes
  • The project will officially begin major construction in 2022 and is scheduled to open by 2028
  • Daily boardings are projected to exceed 30,000 by 2040

 

Development Opportunity in a Walkable Location

  • The property is considered Very Walkable, with an elevated Walk Score® of 76
  • The subject property is located two blocks south of The Plant Shopping Center, a 360,000 square foot shopping center occupied by ample tenants such as Blaze Pizza, In-N-Out Burger, 7-Eleven, Burlington, Sally Beauty, Five Below, The Home Depot, Old Navy, and Ross Dress for Less
  • The property is also walking distance from Living Spaces, Smart & Final, Carl’s Jr, McDonald’s, and Burger King

 

Dense Underlying Demographics

  • There are 358,345 people located within three miles of the property
  • There are 104,816 households located within three miles of the property
  • Average household income is $91,253 within five miles of the property