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13840 Sherman Way, Van Nuys, CA 91405

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For Sale

$4,575,000

1.05 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • 1.1 acres
    Lot size

Explore this Property

We are proud to present for sale a rare Vacant Lot, measuring over an Acre, with Entitlements for an 85-Unit 100% Affordable Housing Project in Van Nuys! At around 45,700 SF of open land, this price pencils to around $100 PSF on the dirt! Situated with an entrance on Sherman Way but sitting behind a duplex fronting the boulevard, this property will benefit from visibility on a busy road, but separation from the hustle and bustle of the street traffic. Sandwiched between Woodman Ave. and Hazeltine Ave., the property is under two miles from the Metrolink Station. The property is labeled as TOC 1. Walk Score calls this area Very Walkable, and future residents will benefit from restaurants, shopping and markets all around, including a Ralphs Supermarket and a Norms Restaurant half a block away. Entitlements are approved as Affordable Housing without utilizing ED1. The Project will be delivered in it's as-is condition, and will not be delivered RTI. Buyers to be solely responsible for continuing with the project and getting LADBS approvals. The Entitlements call for 80% of the units (67 units) designated as Low Income / Schedule 9, 20% of the units (18 units) as Moderate Income / Schedule 6, and one manager's unit. The Type V design consists of 53 one bedrooms, 14 two bedrooms and 19 studios, with laundry rooms on each floor, 72 surface level parking spaces open to the sky, an elevator and rooftop access. There is a future possibility to convert part of the massive open-to-the-sky surface parking lot into ADUs.
MLS# 25-482263

Courtesy Of KELLER WILLIAMS BEVERLY HILLS REALTY

(310) 432-6400

Property Features

  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    1.05 Acres

Map and Directions

Directions to 13840 Sherman Way, Van Nuys, CA 91405

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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