Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 11222 Ventura Boulevard, a 9,370 square foot (.22 acres) lot zoned C2-1VL-RIO in the affluent San Fernando Valley submarket of Studio City, CA. 11222 Ventura Boulevard is two parcels of unimproved land along the Boulevard most notably between Tujunga and Vineland Avenues. Plans have been drafted for a mixed-use project utilizing the property’s excellent 68’ of frontage along Ventura boulevard and its alleyway to the rear. If executed, the project calls for twenty (20) surface parking spaces with a roughly 7,400 square foot retail/office space above. This unique land development opportunity also incorporates two, two-bedroom apartment units above the commercial space with their own dedicated two-car covered garages and large outdoor patio space overlooking Ventura Boulevard and Studio City. 11222 Ventura Boulevard falls under the boundaries of the Ventura/Cahuenga Boulevard Corridor Specific Plan. Currently classified in the neighborhood and general commercial subarea, the property is restricted to a by-right height of 30 feet and a 1.00 FAR however these development standards have potential to change with the adoption of the highly anticipated Ventura/Cahuenga Boulevard specific plan amendment. While the date of release for the updated specific plan is not yet known, the goal is to modernize regulations and speed up the project review process in order to support small businesses along the Valley’s premier commercial corridor. In addition, the property enjoys a by-right density of 1 unit per 400 square feet of land, providing the ability to develop up to 24 units. While not currently in a City of Los Angeles Transit Oriented Community (TOC) zone, new developments at 11222 Ventura Boulevard can take advantage of California state density bonuses, providing a menu with a variety of development incentives. The property benefits from excellent access to the 101 and 170 Freeways, offering broader contact to all reaches of the San Fernando Valley as well as Hollywood and Downtown Los Angeles. This unique land development opportunity enjoys more than 68’ of visibility and frontage and daily traffic counts exceeding 45,000 vehicles per day along Ventura Boulevard.