13840 Sherman Way

Description

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.

Listing information courtesy of: Dario Svidler, Keller Williams Beverly Hills 424-600-7633. *Based on information from the Association of REALTORS/Multiple Listing as of 02/08/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.