5319 Sylmar Avenue, Sherman Oaks, CA 91401

About this property

We are pleased to present a rare development opportunity at 5319 Sylmar Avenue in a highly sought-after residential neighborhood in Sherman Oaks. This exceptional property offers RTI (Ready-to-Issue) permits for a 4-unit luxury development, which will be added to an existing, 1940s single-family home at the front of the lot. The lot boasts a total size of ~8,670 square feet and is zoned {Q}RD1.5. The lot is buildable up to 6 units total by-right, allowing for additional development opportunities in the future.The approved RTI plans call for large, high-end units with a mix of (1) studio, (2) one-bedroom, and (1) two-bedroom unit, totaling 3,207 approximate square feet of living space. The vacant, single-family home currently on the lot is just under 1,400 square feet, consisting of two bedrooms and one bathroom. The integration of the single-family home into the development plans adds a unique touch of character to the overall design.

Listing description from the June 2023 sale, as reported to CRMLS.

Sale history

$1,225,000

Sold June 2023 · listed $1,350,000, on market May 2023 · MLS #23268259 · Source: CRMLS

Listing Agent: Jake Glaser · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-425-9838 · Bought with: Jake Glaser · Lyon Stahl Investment Real Estate, Inc.

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