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Multi-Family

7650 Van Nuys Blvd

7650 Van Nuys Blvd, Van Nuys, CA 91405

Listing Price: $7,600,000

Lot Size
0.69 acres
Price/Acre
$10,978,114
Land Type
Redevelopment

Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale 7650 Van Nuys Boulevard, a 124-unit RTI multifamily development site located on Van Nuys Boulevard, just north of Saticoy Street and south of Roscoe Boulevard in the densely populated East San Fernando Valley sub-market of Van Nuys, CA. The 30,155 square foot lot features 190 feet of frontage along Van Nuys Boulevard, a main north/south thoroughfare through the San Fernando Valley. The property is zoned C2-1VL and ideally located directly adjacent to the Van Nuys Metrolink station within a Tier 3 TOC (Transit Oriented Community). The well-located East San Fernando Valley development site offers direct access to the Interstate 405 San Diego Freeway and is centrally located within the burgeoning Van Nuys sub-market, which currently has over 1,100 under construction or recently constructed residential units. 7650 Van Nuys Boulevard is a fully entitled, RTI development site that features a six story, 124 multifamily units consisting of 8 studio units, 103 one-bedroom units, and 13 two-bedroom units. Of the 124 units, there are a total of thirteen affordable units. The proposed project is a six story, Type IIIA construction over a one story of Type IA on grade parking garage, and one level of subterranean parking. The project is slated for 155,528 gross buildable square feet, including 18,097 square feet of on grade parking, and 26,011 square feet of subterranean level. The project will be highly amenitized, featuring a 515 square foot fitness center, 636 square foot media room, 117 square foot office, 666 square foot recreation room, a pool, spa, and roof deck. The property currently features a 12,820 square foot multi-tenant retail building. The property features three units, two of which are 2,000 square feet, and one of which is 8,820 square feet. The two 2,000 square foot units are vacant, and the 8,820 square foot unit is leased on a month-to-month basis to a furniture store, currently paying $14,994 per month. 7650 Van Nuys Boulevard is surrounded by national retailers and located along the 9.2-mile East San Fernando Valley Light Rail Transit Project. The subject property is located two blocks south of The Plant Shopping Center, a 360,000 square foot Home Depot anchored shopping center occupied by Blaze Pizza, In-N-Out Burger, 7-Eleven, Burlington, Sally Beauty, Five Below, Old Navy, and Ross Dress for Less. The property is also within walking distance to Living Spaces, Smart & Final, Carl’s Jr, McDonald’s, and Burger King.

Investment Highlights

  • 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 zoned C2-1VL ideally located within a Tier 3 TOC
  • The project features 124 multifamily units (13 of which are affordable units): 8 studio units, 103 one-bedroom units, and 13 two-bedroom units

Exclusively Listed By

Financing By

Multi-Family

7650 Van Nuys Blvd

Listing Price: $7,600,000

Lot Size
0.69 acres
Price/Acre
$10,978,114
Land Type
Redevelopment

Investment Highlights

  • 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 zoned C2-1VL ideally located within a Tier 3 TOC
  • The project features 124 multifamily units (13 of which are affordable units): 8 studio units, 103 one-bedroom units, and 13 two-bedroom units

Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale 7650 Van Nuys Boulevard, a 124-unit RTI multifamily development site located on Van Nuys Boulevard, just north of Saticoy Street and south of Roscoe Boulevard in the densely populated East San Fernando Valley sub-market of Van Nuys, CA. The 30,155 square foot lot features 190 feet of frontage along Van Nuys Boulevard, a main north/south thoroughfare through the San Fernando Valley. The property is zoned C2-1VL and ideally located directly adjacent to the Van Nuys Metrolink station within a Tier 3 TOC (Transit Oriented Community). The well-located East San Fernando Valley development site offers direct access to the Interstate 405 San Diego Freeway and is centrally located within the burgeoning Van Nuys sub-market, which currently has over 1,100 under construction or recently constructed residential units. 7650 Van Nuys Boulevard is a fully entitled, RTI development site that features a six story, 124 multifamily units consisting of 8 studio units, 103 one-bedroom units, and 13 two-bedroom units. Of the 124 units, there are a total of thirteen affordable units. The proposed project is a six story, Type IIIA construction over a one story of Type IA on grade parking garage, and one level of subterranean parking. The project is slated for 155,528 gross buildable square feet, including 18,097 square feet of on grade parking, and 26,011 square feet of subterranean level. The project will be highly amenitized, featuring a 515 square foot fitness center, 636 square foot media room, 117 square foot office, 666 square foot recreation room, a pool, spa, and roof deck. The property currently features a 12,820 square foot multi-tenant retail building. The property features three units, two of which are 2,000 square feet, and one of which is 8,820 square feet. The two 2,000 square foot units are vacant, and the 8,820 square foot unit is leased on a month-to-month basis to a furniture store, currently paying $14,994 per month. 7650 Van Nuys Boulevard is surrounded by national retailers and located along the 9.2-mile East San Fernando Valley Light Rail Transit Project. The subject property is located two blocks south of The Plant Shopping Center, a 360,000 square foot Home Depot anchored shopping center occupied by Blaze Pizza, In-N-Out Burger, 7-Eleven, Burlington, Sally Beauty, Five Below, Old Navy, and Ross Dress for Less. The property is also within walking distance to Living Spaces, Smart & Final, Carl’s Jr, McDonald’s, and Burger King.

Exclusively Listed By

Financing By

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