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$9,000,000

Est. payment - /mo

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0.96 Acres Lot

Active

5511 Ethel AVE Sherman Oaks, CA 91401

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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25626591

HOA Y/N No

Lot Size 0.957 Acres

Property Description

Pleased to present 5511 Ethel Avenue, a 199-unit, 100% affordable, in-entitlement multifamily development opportunity in the heart of Sherman Oaks. This scale of affordable housing in such a high-barrier to entry Sherman Oaks location is exceptionally rare. In a submarket where new construction one-bedroom rents exceed $3,000, this project delivers urgently needed workforce and affordable housing, directly addressing the region's acute supply constraints for cost burdened renters. Property Designed by JZA Architecture, one of Los Angeles' leading firms specializing in large scale ED1 and 100% affordable housing projects, the proposed six-story community features an efficient stacked design that maximizes unit yield, constructability, and long-term operating efficiency. JZA's deep experience with Executive Directive 1 (ED1) and entitlement driven affordable housing ensures a thoughtfully executed plan that aligns with both policy requirements and modern design standards. The project delivers a highly efficient unit mix of 175 one-bedroom units, 14 two-bedroom units, five three-bedroom units, and five studios, creating a versatile and modern housing tailored for affordable and workforce households. While the development qualifies for no parking requirement, the project provides 147 on-site subterranean and 1st floor parking stalls, offering a significant competitive advantage in tenant convenience. Strategically located within a short distance of major transit routes, the site benefits from High Quality Transit Corridor status and direct access to Ventura Boulevard's retail and employment centers. Importantly, the property sits adjacent of Los Angeles Valley College (LAVC), a major regional institution serving more than 30,000 students annually, with no on-campus housing. This proximity positions the project to capture strong everyday demand, while also benefiting from LAVC's steady daytime population, workforce pipeline, and multi-year campus modernization investment. The presence of a large, stable educational anchor enhances the site's long-term relevance for affordable and workforce housing, supporting occupancy resilience and broad-based tenant demand. The surrounding submarket of Sherman Oaks continues to exhibit strong fundamentals for affordable and workforce housing, supported by diverse employment anchors, transit connectivity, and limited new supply due to zoning constraints. With new-construction one-bedroom rents now exceeding $3,000 per month, demand for attainable, income-restricted housing remains exceptionally high, further reinforcing the long term stability and absorption strength of this project.

Location

State CA

County Los Angeles

Area So - Sherman Oaks

Zoning R1

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 2345005016

Special Listing Condition Standard

Listed by Filip Niculete Marcus & Millichap

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES

Elementary Schools 20

10

Colfax Charter Elementary

Public | KG - 5
9

Ararat Charter

Public | KG - 5
9

Dixie Canyon Community Charter

Public | KG - 5
9

Carpenter Community Charter

Public | KG - 5
8

Kester Elementary / Magnet

Public | PK - 5
8

Sherman Oaks Elementary Charter

Public | KG - 5
8

Chandler Learning Academy

Public | KG - 5
7

Celerity Palmati Charter

Public | KG - 8
6

Riverside Drive Charter

Public | KG - 5
6

Monlux Elementary School

Public | KG - 5
6

Celerity Cardinal Charter

Public | KG - 8
5

Ranchito Avenue Elementary School

Public | KG - 5
5

Kittridge Street Elementary

Public | PK - 5
5

Erwin Elementary

Public | KG - 5
5

Coldwater Canyon Elementary School

Public | KG - 5
5

Strathern Elementary School

Public | PK - 5
5

Burbank Boulevard Elementary

Public | PK - 5
5

Victory Boulevard Elementary School

Public | KG - 5
5

New Horizons Charter Academy

Public | KG - 8
5

Lankershim Elementary School

Public | KG - 5

Middle Schools 10

7

Walter Reed School

Public | 6 - 8
6

Millikan Middle School

Public | 6 - 8
5

Madison Middle School

Public | 6 - 8
5

Sun Valley Magnet

Public | 6 - 8
4

Robert Fulton College Prep

Public | 6 - 12
4

Roy Romer Middle School

Public | 6 - 8
1

Van Nuys Middle School

Public | 6 - 8
0

Options for Youth-Hermosa Beach, Inc.

Public | 7 - 12
0

Harvard-Westlake School

Private | 7 - 12
0

Emerson Academy

Private | 6 - 12

High Schools 14

8

North Hollywood High School

Public | 9 - 12
7

Van Nuys Senior High School

Public | 9 - 12
6

CHAMPS - Charter High School of the Arts - Multimedia and Performing

Public | 9 - 12
6

Ulysses Grant High School

Public | 9 - 12
2

Jack London Community Day

Public | 9 - 12
0

Will Rogers Continuation

Public | 9 - 12
0

Notre Dame High School

Private | 9 - 12
0

Academy of Amherst Jr-Sr High School

Private | 10 - 12
0

Jack London Continuation

Public | 9 - 12
0

Coldwater Canyon Preparatory

Private | 9 - 12
0

Valley Torah High School

Private | 9 - 12
0

Valley Torah

Private | 9 - 12
0

Valley Torah High School Girls' Division

Private | 9 - 12
0

Amelia Earhart Continuation

Public | 9 - 12

School and business data provided by Attom Data.

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Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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