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Matthew and Mahvash Bryant
FOR SALE
$2,400,000

12801 Barbara Ann Street
North Hollywood, CA 91605

Land
Land Lot
0.2169
Acre Lot
Listing Agent: Neema Ahadian - Marcus & Millichap; neema.ahadian@marcusmillichap.com
Home> California> North Hollywood> 91605
12801 Barbara Ann St, located just south of Sherman Wayin the Valley Glen neighborhood of North Hollywood. The 9,433 SF lot willbe delivered fully entitled for 66 income-restricted housing units with noparking required. The project's central Valley location and proximity to major employmenthubs and the Hollywood Burbank Airport are prime for a high velocityworkforce housing lease up strategy, allowing a mission driven developerthe opportunity to support the missing middle segment given the project'sdiscount to surrounding market rents. Plans call for an efficient five story project, utilizing an all-wood Type IIIAconstruction. The lot currently consists of a single-family residence that willbe delivered vacant at the close of escrow, allowing a developer to breakground immediately. The finished project totals 28,774 SF and has a desirable unit mix of 65 singles(280-360 SF) and one three-bedroom (681 SF), allowing a developer to collectrents above $5 per SF. The lot is offered at a low $37,121 per buildable unit, allowing a privately fundeddeveloper the opportunity to develop a high yielding project and capture astrong return on cost with zero tax credits or government subsidies. The project also offers the unique opportunity to purchase an ED-1 projectin a qualified opportunity zone, taking advantage of potential tax benefitsincluding potential elimination of capital gains tax, greatly enhancing projectreturns. The project is located just west of the 170 Freeway accessible via ShermanWay and provides convenient access to most major neighborhoodsthroughout the Valley. The central location allows for an easy commute tonearby neighborhoods such as Sherman Oaks, Studio City, Panorama City,and Sun Valley, among others; the site is also close proximity to three metrolocal line bus stops on Sherman Way. Located in a densely populated, infill submarket of Los Angeles, the projectbenefits from retail amenities along Sherman Way & Coldwater Canyon Ave.The project is in close proximity to schools within a half mile, including JamesMadison Middle School and Coldwater Canyon Ave Elementary School.
24391191
Land Lot - Land, Other
Los Angeles
0.2169 Acres
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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Listing Agent: Neema Ahadian - Marcus & Millichap; neema.ahadian@marcusmillichap.com
Licensed in: DRE# 01346750
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Based on information from CRISNet MLS as of 7/14/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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