11714 Archwood St
North Hollywood, CA 91606
NoHo Archwood 37 Units · Land For Sale · 0.42 AC

Marcus & Millichap is pleased to present 11714-11722 Archwood Street, a prime Transit Oriented Communities (TOC) Tier 2 multifamily development site in the highly sought after neighborhood of North Hollywood. This rare offering consists of two parcels totally 18,201 square feet of R3-1 zoned land. The project will be delivered shovel ready with plans (RTI) for a well-designed five-story, 37 apartment project with a desirable unit mix of 5 studios and 32 two-bedroom/two-bathroom units. Two of each unit types will be designated for low income housing. Single family residences on site have been demolished. The site is ready for grading. The property is conveniently located between Victory Boulevard and Vanowen Street by Lankershim Boulevard, a major north-south thoroughfare in the eastern San Fernando Valley that connects Sun Valley, North Hollywood, and Universal City. This location is within close proximity to major streets, freeways, highly regarded public and private schools, which creates a favorable environment for an investor/developer to capitalize on housing demand in the one of the most thriving and walkable markets in Los Angeles. North Hollywood is an eclectic neighborhood with quiet residential blocks, humming NoHo Arts District, and the eminent Academy of Television Arts & Sciences. The forecast and growth in the coming years in NoHo is extremely positive. There are many projects coming on line, including new housing units, creation of open spaces and new post-covid office and retail concepts that will continue to attract upwardly mobile young professionals. Strong fundamentals of economic development and transportation improvements in the area will provide promising returns on investment. Furthermore, being in an Opportunity Zone Designation will offer additional benefits to increase profitability of this acquisition.