DWG Capital Group, as the exclusive agent, is pleased to present for sale 23036-23060 Ventura Boulevard, a 36,923 SF development site well-suited for a multifamily mixed-use development project with a 1:1 floor area ratio (FAR) of up to 84,714 SF in the highly desirable Woodland Hills/Calabasas adjacent submarket of Los Angeles.This prime 71 Unit parcel assemblage was strategically purchased as part of an overall greater development and is now amidst the completion of entitlements. The seasoned developer/seller has an attractive 71-unit building design in process with an excellent architect. The proposed plans shall allow the project and new buyer to commence quickly to develop a beautiful, new 6-Story, 71-Unit Apartment Building inclusive of 3 stories of residential, ground floor retail, and 2 levels of parking. The project can be purchased with or without entitlements as desired by the new purchaser.Located at 23036-23060 Ventura Boulevard, the site boasts an excellent Woodland Hills/Calabasas adjacent location that is proximate to many Calabasas amenities, the nearby Bowlero as well as three prime malls: The Village at Westfield Topanga (mixed-use, open-air shopping, and dining with 100 stores); Westfield Topanga (regional indoor mall); and Westfield Promenade (34-acre property envisioned for redevelopment to include expansive community open space, residential units, shops, cafes, hospitality, and an entertainment/sports center).Additionally, the Woodland Hills/Calabasas neighborhood enjoys being a short drive to many restaurants in its general area, such as Fleming's Steakhouse and Roy's Asian Fusion as well as its desirous location within the San Fernando Valley's urban core with over six million square feet of office space.Along with its outstanding location, the future development envisioned for this site will benefit from Woodland Hills' strong multifamily fundamentals, favorable income, and education demographics, and proximity to public transit via the Metro Orange Line.As an additional positive attribute, 23036-23060 Ventura Boulevard is located in the western area of Woodland Hills on the Calabasas border making it less subject to any future oversupply risks within the more densely developed Woodland Hills/Warner Center area.
Courtesy of John Barker Dunning, John ''Judd'' Dunning,
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Data last updated 3/29/23