0 Archwood Street, Van Nuys, California 91406

$4,300,000

Property Type

Land

City

Van Nuys

Status

Active

This 1.18 acre flat corner site is walking distance to one of Los Angeles’ largest recreation amenities; Sepulveda Basin. The development of multiple residential product typologies are possible on the site. By leveraging a litany of land use entitlement options including SB1123, SB9, AB1751, etc. to execute various permutations of the "townhome" one can develop attractive for-sale or BTR product. Additionally, dense forms of deed restricted apartments leveraging state bonus density policy are possible. No trees, tenants, or structures exist on this rare flat corner site. As one option to guide the market's expectation of yield, an architect versed in affordable housing has conducted a yield study affirming viability of a nearly 1:1 ratio grade-level parked (podium and surface) 132-unit type V apartment building with 132 comfortably sized units. Using the City’s Affordable Housing Incentive Program (AHIP) the project will be ministerially processed using Expanded Administrative Review.