Investment Overview

Marcus and Millichap is pleased to present an 11,314 SF corner lot nearly RTI development site located at 7005 Woodley Avenue in Van Nuys, California. The subject property is located in a solid Van Nuys location, south of Sherman Way and east of Hayvenhurst Avenue. This Van Nuys property offers a solid development opportunity on an 11,314 SF parcel, competitively priced at under $120 per square foot. Zoned LAR3-1, the site comes fully entitled with nearly RTI (Ready-to-Issue) plans for a 21-unit multifamily project that includes four recreation rooms designed for potential ADU conversion. The plans feature approximately 30,618 SF of gross building area and provide 35 parking spaces across partial on-grade and one-level subterranean configurations. With strong zoning flexibility and the option to redesign under the City of Los Angeles’ CHIP Ordinance or ED1 provisions, the site presents an excellent opportunity to build more density in a prime Van Nuys location. With nearly RTI plans in place, a low land cost of just $120 per square foot, and the flexibility to redesign under the CHIP Ordinance or ED1 provisions, this site offers an exceptional opportunity to fast-track development and maximize returns in the thriving Van Nuys submarket.