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Seniors Housing

6401 Camellia Ave

6401 Camellia Ave, North Hollywood, CA 91606

Listing Price: $1,495,000

Lot Size
0.18 acres
Price/Acre
$8,415,896
Land Type
Land
Buildable Square Feet
13,700

Investment Overview

We are pleased to present 6401 N Camellia Ave, a prime 7,738 SF redevelopment opportunity located in North Hollywood, CA. The property is located on the corner of Camellia Ave and Victory Blvd. There is currently a vacant single family residence, which was constructed in 1940, totaling 945 SF on the property. The property enjoys 114.9 feet of frontage on Victory Blvd, and frontage on Camellia Ave. The property is zoned [Q]R3-1 and is located in an Opportunity Zone. The property is entitled for a 30-unit, 13,700 SF, eldercare housing development. Plans call for 6 senior independent units, 18 assisted living care with guest room, and 6 Alzheimer care with guest room units. Plans also call for 3,310 SF of open spaces and 9 parking stalls. The building would be 4 stories with Type V-A construction. Demand among developers and operators for new senior living projects is higher in 2022 than in the prior year. Driving that increase in demand are favorable demographics, an expectation that construction prices will level off in 2023 and a shift in mindset from the Covid-19 pandemic to planning for the future. (Source: Senior Housing News) The subject property is located minutes away from NoHo Arts District, as well as minutes away from the Bob Hope / Burbank Airport. North Hollywood is on the rise, with 2 brand new mixed-used developments, NoHo West, and District NoHo. District NoHo will consist of approximately 1,500 multifamily units, 100,000 SF of retail space, and 500,000 SF of office space. The property has easy access to the 170 Freeway to the west, the 5 Freeway to the east, and the 101 and 134 Freeways to the south.

Investment Highlights

  • Fully Entitled for Development of 30 Senior Housing Units
  • Plans for 6 Senior Independent Units, 18 Assisted Living Care Units with Guest Rooms, and 6 Alzheimer Care Units with Guest Rooms
  • Adjacent to NoHo Arts District, Burbank, and Valley Village
  • Close to New 25-Acre NoHo West Mixed-Use Development and Upcoming $1 Billion District NoHo Urban Village
  • Lot Currently Holds a Vacant Single-Family Dwelling -- Near-Immediate Start to Development

Exclusively Listed By

Financing By

Seniors Housing

6401 Camellia Ave

Listing Price: $1,495,000

Lot Size
0.18 acres
Price/Acre
$8,415,896
Land Type
Land
Buildable Square Feet
13,700

Investment Highlights

  • Fully Entitled for Development of 30 Senior Housing Units
  • Plans for 6 Senior Independent Units, 18 Assisted Living Care Units with Guest Rooms, and 6 Alzheimer Care Units with Guest Rooms
  • Adjacent to NoHo Arts District, Burbank, and Valley Village
  • Close to New 25-Acre NoHo West Mixed-Use Development and Upcoming $1 Billion District NoHo Urban Village
  • Lot Currently Holds a Vacant Single-Family Dwelling -- Near-Immediate Start to Development

Investment Overview

We are pleased to present 6401 N Camellia Ave, a prime 7,738 SF redevelopment opportunity located in North Hollywood, CA. The property is located on the corner of Camellia Ave and Victory Blvd. There is currently a vacant single family residence, which was constructed in 1940, totaling 945 SF on the property. The property enjoys 114.9 feet of frontage on Victory Blvd, and frontage on Camellia Ave. The property is zoned [Q]R3-1 and is located in an Opportunity Zone. The property is entitled for a 30-unit, 13,700 SF, eldercare housing development. Plans call for 6 senior independent units, 18 assisted living care with guest room, and 6 Alzheimer care with guest room units. Plans also call for 3,310 SF of open spaces and 9 parking stalls. The building would be 4 stories with Type V-A construction. Demand among developers and operators for new senior living projects is higher in 2022 than in the prior year. Driving that increase in demand are favorable demographics, an expectation that construction prices will level off in 2023 and a shift in mindset from the Covid-19 pandemic to planning for the future. (Source: Senior Housing News) The subject property is located minutes away from NoHo Arts District, as well as minutes away from the Bob Hope / Burbank Airport. North Hollywood is on the rise, with 2 brand new mixed-used developments, NoHo West, and District NoHo. District NoHo will consist of approximately 1,500 multifamily units, 100,000 SF of retail space, and 500,000 SF of office space. The property has easy access to the 170 Freeway to the west, the 5 Freeway to the east, and the 101 and 134 Freeways to the south.

Exclusively Listed By

Financing By

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