Property Detail

Description

14715 W. Burbank Boulevard is a fully entitled, ready-to-issue development site approved for a 91-unit, six-story senior affordable housing community (55+) in the heart of Van Nuys. The offering is a double lot sale totaling approximately 17,500 SF, delivered vacant and shovel-ready. The approved project comprises 88 one-bedroom units, 2 two-bedroom units, and 1 studio across approximately 57,401 SF of residential building area, with a Type I-A concrete podium and Type III-A construction above, at-grade parking, an interior courtyard, and roof-level community amenities. RTI plans, density-bonus concessions, and ED 1 streamlining are already in place, eliminating 24-36 months of typical predevelopment risk and roughly $400K to $700K of soft cost exposure for new ownership. The site sits mid-block on Burbank Boulevard with 0.7 miles to the I-405 / Sepulveda Pass and 1.2 miles to the Metro Orange (G) Line, positioned within the Sepulveda Transit Corridor catchment and within walking distance of Kaiser Permanente Panorama City, Valley Presbyterian Hospital, and the Sherman Oaks Galleria. At $3,098,000, the basis works out to $34,044 per door on a fully approved plan set.