Description
Situated at 5511 Ethel Avenue in the heart of Sherman Oaks’ San Fernando Valley submarket, this prime 0.96-acre, fee-simple parcel presents a rare, shovel-ready development opportunity. Fully entitled for a 199-unit, 100% affordable multifamily apartment community, the property offers immediate upside for investors and developers targeting California’s most in-demand housing sector. Offered at $9,000,000—approximately $215.26 per buildable square foot—this asset is positioned for strong value creation upon delivery of entitlement and commencement of construction.
Fronting both Ethel Avenue and Albers Street, the site benefits from exceptional visibility and dual-street access in a well-established residential neighborhood. Minutes from Ventura Boulevard’s retail and dining amenities, with seamless connections to the I-405 and key employment centers across the Valley, the location underscores long-term market stability and sustaining demand for affordable housing. Municipal services, including water, are already in place, streamlining pre-development processes.
Entitled to maximize density under LAR1 zoning, this property caters to institutional, private equity and local developers seeking to capitalize on California’s favorable policy environment for affordable housing. With entitlement costs sunk and approvals secured, the site affords a fast-track path to groundbreaking, minimizing entitlement risk and accelerating time to stabilized cash flow. Fee simple ownership further simplifies title considerations, ensuring a clean transaction for the next owner.
This offering represents one of the few large-scale, multifamily-entitled sites available in Sherman Oaks. Developers and investors are invited to leverage this turnkey, high-impact opportunity to deliver much-needed affordable housing in a market underpinned by strong fundamentals and supportive local policy. 5511 Ethel Avenue stands ready for immediate acquisition and execution—capitalizing on entitlement value and market demand from day one.
Documents
Offering Summary
- Asking Price$9,000,000
- Price PSF$215.26
- Price/Unit$45,226
- Property TypeLand/Development
- Size41,810 SF
- Total Acres~0.96 ac
Documents
Property Address
Deal Team
Description
Situated at 5511 Ethel Avenue in the heart of Sherman Oaks’ San Fernando Valley submarket, this prime 0.96-acre, fee-simple parcel presents a rare, shovel-ready development opportunity. Fully entitled for a 199-unit, 100% affordable multifamily apartment community, the property offers immediate upside for investors and developers targeting California’s most in-demand housing sector. Offered at $9,000,000—approximately $215.26 per buildable square foot—this asset is positioned for strong value creation upon delivery of entitlement and commencement of construction.
Fronting both Ethel Avenue and Albers Street, the site benefits from exceptional visibility and dual-street access in a well-established residential neighborhood. Minutes from Ventura Boulevard’s retail and dining amenities, with seamless connections to the I-405 and key employment centers across the Valley, the location underscores long-term market stability and sustaining demand for affordable housing. Municipal services, including water, are already in place, streamlining pre-development processes.
Entitled to maximize density under LAR1 zoning, this property caters to institutional, private equity and local developers seeking to capitalize on California’s favorable policy environment for affordable housing. With entitlement costs sunk and approvals secured, the site affords a fast-track path to groundbreaking, minimizing entitlement risk and accelerating time to stabilized cash flow. Fee simple ownership further simplifies title considerations, ensuring a clean transaction for the next owner.
This offering represents one of the few large-scale, multifamily-entitled sites available in Sherman Oaks. Developers and investors are invited to leverage this turnkey, high-impact opportunity to deliver much-needed affordable housing in a market underpinned by strong fundamentals and supportive local policy. 5511 Ethel Avenue stands ready for immediate acquisition and execution—capitalizing on entitlement value and market demand from day one.
Documents
Offering Summary
- Asking Price$9,000,000
- Price PSF$215.26
- Price/Unit$45,226
- Property TypeLand/Development
- Size41,810 SF
- Total Acres~0.96 ac
Documents
Property Address
Deal Team
