11903 Burbank Blvd Valley Village, CA 91607
Property in Valley Village
SOLD: $1,350,000 CAP RATE: 3.1% GRM: 20.8 PRICE PER SQUARE FOOT: $785
An exceptional development opportunity awaits at 11903 Burbank Boulevard, a fully entitled multifamily development site located in the highly desirable neighborhood of Valley Village, California.
This offering presents a unique chance for a developer to acquire a project with approvals in place for a 23-unit modern apartment building spanning six stories above grade with the potential for an additional 3 to 4 ADUs to be added (Buyer to conduct their own investigations. )
This 10,259 square foot corner lot at the intersection of Burbank Boulevard and Radford Avenue is currently an existing 4-unit multifamily property with 3 units being tenant occupied. It has been entitled under the Transit Oriented Communities (TOC) Tier 3 program, providing significant density bonuses that maximize the site's development potential.
The current approvals encompass a well-designed mix of studios, one-bedroom, and two-bedroom units, complete with subterranean parking and modern resident amenities.
Investment Highlights
Approvals secured for 23-unit multifamily project
TOC Tier 3, providing 70% density bonus
19 subterranean parking spaces
Highly visible corner lot at Burbank Blvd & Radford Ave
Opportunity to redesign for higher density or convert 3 or 4 fitness rooms to ADUs
Pre-construction, ready for developer to advance to construction
Listed & Sold By:
Tony Sameyah
(310) 749-4475
tony@lyonstahl.com