14744 MAGNOLIA BOULEVARD, SHERMAN OAKS CA 91403
- 6,503 sq.ft. lot
Property Description
The LAAA Team of Marcus & Millichap is pleased to present 14744 Magnolia Boulevard, a rare 100% affordable housing development opportunity located in the heart of Sherman Oaks. This six-story, 50-unit residential project is designed under Los Angeles' Executive Directive No. 1 (ED1), which allows for increased density, greater height, and zero parking requirementsstreamlining approvals and enhancing overall project feasibility.Approximately 80% of the units will serve low-income households (Schedule 9), with the remaining 20% reserved for moderate-income tenants (Schedule 6). The property is also eligible for Tier 7 Section 8 rents, offering strong rent potential in a high-demand area. Additional features include rooftop open space, a fully sprinklered building design, and solar-ready infrastructure. This is one of the best-located ED1 projects in all of Los Angeles, offering unmatched walkability and connectivity in a premium infill setting.Situated in the highly sought-after Sherman Oaks rental submarket, the project benefits from proximity to major employment centers, high-end retail, and desirable residential neighborhoods. With average one-bedroom rents exceeding $2,400 and a significant lack of affordable housing, this development presents long-term value and stability for mission-aligned investors and developers seeking a fully entitled asset in a premier location.
Listing Courtesy of Filip Niculete, Marcus & Millichap
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