Skip to main content

Mixed-Use

Majestic Plaza

18341 Sherman Way, Reseda, CA 91335

Listing Price: $9,400,000

Lot Size
1.18 acres
Price/Acre
$7,966,102
Land Type
Redevelopment
Buildable Square Feet
129,634

Investment Overview

COVERED LAND OPPORTUNITY CONSISTING OF A 40,393 SF MIXED-USE RETAIL & OFFICE BUILDING SITUATED ON 51,449 SF OF LAND WITH ENTITLEMENTS IN PLACE FOR A 112 MARKET-RATE UNIT MULTI-FAMILY DEVELOPMENT

Investment Highlights

  • 1.18 acres of land located on Sherman Way, just east of Reseda Boulevard
  • Covered Land Opportunity consisting of a 40,393 SF mixed-use retail & office building situated on 51,449 SF of land with entitlements in place for a 112 market-rate unit multi-family development
  • Entitlements in place for A 112-Market-Rate Unit Multifamily Development
  • Zone change has been processed, re-zoning the entire site to (T)(Q)RAS4-1D-CDO from [Q]C2-1DO-CDO and [Q]P-1D-CDO
  • The project is slated for a 55-foot, four-story mixed-use development consisting of two buildings totaling 129,634 square foot development with 15,160 square feet of ground floor commercial providing 228 parking spaces within one (1) at-grade and two (2) subterranean parking levels
  • Ideal Owner-User or Value-Add Investment Opportunity
  • Current rents are significantly below market averaging $1.16 per square foot, creating a unique value-add opportunity
  • The property is currently 87% leased with flexible month-to-month and short-term leases through 2024

Exclusively Listed By

Financing By

Mixed-Use

Majestic Plaza

Listing Price: $9,400,000

Lot Size
1.18 acres
Price/Acre
$7,966,102
Land Type
Redevelopment
Buildable Square Feet
129,634

Investment Highlights

  • 1.18 acres of land located on Sherman Way, just east of Reseda Boulevard
  • Covered Land Opportunity consisting of a 40,393 SF mixed-use retail & office building situated on 51,449 SF of land with entitlements in place for a 112 market-rate unit multi-family development
  • Entitlements in place for A 112-Market-Rate Unit Multifamily Development
  • Zone change has been processed, re-zoning the entire site to (T)(Q)RAS4-1D-CDO from [Q]C2-1DO-CDO and [Q]P-1D-CDO
  • The project is slated for a 55-foot, four-story mixed-use development consisting of two buildings totaling 129,634 square foot development with 15,160 square feet of ground floor commercial providing 228 parking spaces within one (1) at-grade and two (2) subterranean parking levels
  • Ideal Owner-User or Value-Add Investment Opportunity
  • Current rents are significantly below market averaging $1.16 per square foot, creating a unique value-add opportunity
  • The property is currently 87% leased with flexible month-to-month and short-term leases through 2024

Investment Overview

COVERED LAND OPPORTUNITY CONSISTING OF A 40,393 SF MIXED-USE RETAIL & OFFICE BUILDING SITUATED ON 51,449 SF OF LAND WITH ENTITLEMENTS IN PLACE FOR A 112 MARKET-RATE UNIT MULTI-FAMILY DEVELOPMENT

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower