8846 Sepulveda Blvd
North Hills, CA 91343
Land For Sale · 1.03 AC

Marcus & Millichap is pleased to present a 180 Unit development site located in the San Fernando Valley, in North Hills, California. The location is suitable for an affordable housing, workforce housing or market rate project. The corner lot is 44,841 sq. ft. (1.03 ACRES) zoned C2-1 with over 300 feet of frontage on Sepulveda Boulevard. The ownership has submitted plans, based on 2022 codes (i.e. gas stoves allowed) for a 180 unit project including 15 ELO units and consisting of 20: Singles, 115: 1+1 and 45 2+2. The plans have been designed attractively (3 Courtyards) and efficiently by AFCO Design and call for on-grade parking, reducing costs greatly and providing 173 car parking spaces and 126 bicycle spaces. The area is rapidly improving with many new developments in planning or finalized, including the 365 unit project by Meta Housing, located directly across the street from the subject property. The lot is currently being used as a car dealership, with the potential to generate $22,000 of monthly rent. There is minimal demolition with only two small structures to be demolished. The property will be delivered vacant without the use of the Ellis Act.