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- LoopNet Team
14744 Magnolia Blvd
Sherman Oaks, CA 91403
50 Unit ED1 Development Site | Sherman Oaks · Land For Sale
·
0.15 AC
PROPERTY FACTS
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Residential | Total Lot Size | 0.15 AC |
| Zoning | R3-1-RIO - Residential | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.15 AC |
| Zoning | R3-1-RIO - Residential |
DESCRIPTION
Sherman Oaks, located in the vibrant Los Angeles Metropolitan Area, is an appealing neighborhood currently undergoing dynamic demographic and economic changes. The population of Sherman Oaks has shown consistent growth over the years, with projections indicating further expansion. In 2023, the population was 218,115, and it is expected to rise to 222,679 by 2028, reflecting a steady growth rate of two percent. This trend signals an increasing demand for housing, particularly multifamily units, as more individuals and families move to the area in search of accessibility and urban amenities. Another key indicator of the neighborhood’s economic vitality is the median household income, which was $89,570 in 2023 and is projected to rise to $106,321 by 2028. This marked a 19 percent increase, significantly exceeding the national average and indicates the area’s affluence and potential for attracting high-income renters. Additionally, educational attainment is notable, with 56.1 percent of residents holding a bachelor’s degree or higher in 2023, expected to stabilize at 56.3 percent by 2028.
