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11903 Burbank Blvd 0.24 Acres of Residential Land Offered at $2,000,000 in Valley Village, CA 91607
Executive Summary
Offered at $2,000,000, this 10,259 square foot corner lot at the intersection of Burbank Boulevard and Radford Avenue is currently an existing 4-unit multifamily property with 3 units being tenant occupied. It has been entitled under the Transit Oriented Communities (TOC) Tier 3 program, providing significant density bonuses that maximize the site's development potential. The current approvals encompass a well-designed mix of studios, one-bedroom, and two-bedroom units, complete with subterranean parking and modern resident amenities.
This project represents an ideal opportunity for a local developer looking to build immediately under the current approvals or to redesign for a potentially higher-density project, capitalizing on the site's prime location and favorable zoning while earning a return to help with property tax and insurance costs. The property's corner location provides excellent visibility and accessibility, while Valley Village's strong rental market fundamentals support robust demand for quality multifamily housing.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $2,000,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Redevelopment Project | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.24 AC |
| Zoning | R-3-1 TOC Tier 3 - The property's TOC Tier 3 designation provides substantial benefits, including the 70% density bonus that enabled the current 23-unit entitlement. | ||
| Price | $2,000,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.24 AC |
| Zoning | R-3-1 TOC Tier 3 - The property's TOC Tier 3 designation provides substantial benefits, including the 70% density bonus that enabled the current 23-unit entitlement. |
1 Lot Available
Lot
| Price | $2,000,000 | Lot Size | 0.24 AC |
| Price Per AC | $8,492,064.17 |
| Price | $2,000,000 |
| Price Per AC | $8,492,064.17 |
| Lot Size | 0.24 AC |
The development site at 11903 Burbank Boulevard offers a clear and well-defined project scope, with key entitlements and parameters already established.
Description
The property occupies a prominent corner position at the intersection of Burbank Boulevard and Radford Avenue, providing excellent visibility and dual-street frontage. The R-3-1 zoning with TOC Tier 3 overlay creates a favorable regulatory environment for multifamily development, with streamlined approval processes and significant density bonuses that maximize development potential. The site's pre-construction status means that while entitlements for 23 units are in place, the plans have not yet reached the "ready-to-issue" stage. This provides a strategic opportunity for a buyer to either advance the existing plans to completion or to redesign the project entirely, potentially capturing additional density or modifying the unit mix to optimize market positioning and financial returns.
Property Taxes
| Parcel Number | 2340-034-021 | Total Assessment | $1,461,282 |
| Land Assessment | $1,136,553 | Annual Taxes | ($1) |
| Improvements Assessment | $324,729 | Tax Year | 2025 |
Property Taxes
Presented by
11903 Burbank Blvd
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