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11144 Lorne St 0.6 Acres of Residential Land Offered at $2,150,000 in Sun Valley, CA 91352
Executive Summary
Approved plans are currently in process for the construction of a 17-unit townhome-style apartment development totaling approximately 26,740 square feet. The proposed project includes 15 units with three bedrooms and three-and-one-half bathrooms, one unit with two bedrooms and two-and-one-half bathrooms, and one unit with one bedroom and one-and-one-half bathrooms. All units are designed with attached garages and will be supported by a total of 33 private parking spaces. Ready-to-Issue (RTI) status is anticipated within approximately six to nine months.
The property is ideally located in Sun Valley with convenient access to major transportation corridors including Interstate 5 and Interstate 170, offering strong regional connectivity throughout the San Fernando Valley and greater Los Angeles area. The site is also situated in close proximity to Hollywood Burbank Airport, Downtown Los Angeles, and numerous major production studios and employment centers.
This redevelopment opportunity benefits from walkability and access to nearby public open space, including the future 46-acre Rory M. Shaw Wetlands Park, which is expected to enhance long-term neighborhood value, livability, and sustainability upon completion.
The property is currently tenant-occupied with rental income in place, allowing for revenue generation during the entitlement and RTI process. Seller intends to complete a 1031 Exchange; Buyer cooperation is requested at no additional cost to the Buyer. Contact Listing Agent for access to approved plans and additional development details.
Property Facts
1 Lot Available
Lot 2314006016
| Price | $2,150,000 | Lot Size | 0.60 AC |
| Price Per AC | $3,588,273.19 |
| Price | $2,150,000 |
| Price Per AC | $3,588,273.19 |
| Lot Size | 0.60 AC |
Development opportunity in Sun Valley: 3-parcel assemblage at 11144–11148 Lorne St & 8032 N Fair Ave. Plans in process for 17 townhome units (26,740 SF) w/ attached garages, 33 parking. RTI in 6–9 months. Near I-5, I-170 & Hollywood Burbank Airport
Description
Exceptional development opportunity in the highly desirable Sun Valley submarket of Los Angeles. This offering includes a rare multi-parcel assemblage located at 11144 Lorne St., 11146–11148 Lorne St., and 8032 N Fair Ave, presenting investors and developers with the opportunity to deliver a thoughtfully designed 17-unit townhome-style multifamily project totaling approximately 26,740 square feet. Plans are currently in process with RTI anticipated in approximately 6–9 months for a well-balanced unit mix consisting of 13 four-bedroom units, two three-bedroom units, one two-bedroom unit, and one one-bedroom unit. Each residence is designed with attached garages and supported by 33 private on-site parking spaces, offering a highly marketable configuration tailored to meet strong rental demand for larger-format housing in the San Fernando Valley. The proposed development includes the demolition of three existing residential structures (currently tenant-occupied, allowing for interim income during the entitlement process) and a zone change from R1-1 to RD1.5-1, consistent with the site’s Low to Medium Density Residential General Plan Land Use designation. The property is further positioned within multiple planning overlays, including a Transit Protection Area (TPA), Environmental Justice Improvement Area, Los Angeles State Enterprise Zone, and Clean Up Green designation, enhancing long-term redevelopment potential. Strategically located just minutes from Interstate 5 and Interstate 170, the site offers seamless connectivity to major employment hubs throughout the region and is in close proximity to Hollywood Burbank Airport, Downtown Los Angeles, and numerous media and production studios. Future residents will also benefit from walkable access to neighborhood amenities and the planned 46-acre Rory M. Shaw Wetlands Park, which is expected to significantly enhance community value, livability, and environmental sustainability. Seller intends to complete a 1031 Exchange; Buyer cooperation is requested at no cost. Contact Listing Agent for approved plans and additional development details.
Property Taxes
| Parcel Numbers | Improvements Assessment | $258,059 | |
| Land Assessment | $473,512 | Total Assessment | $731,571 |
Property Taxes
Presented by
Lincoln Estates Inc
11144 Lorne St
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