$2,800,000
Est. payment /mo
0.7 Acres Lot
New
10898 Olinda ST Sun Valley, CA 91352
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25587153
HOA Y/N No
Lot Size 0.697 Acres
Property Description
We are pleased to present Olinda Apartments, a 100% affordable housing development located at 10898 W Olinda Street in Sun Valley, Los Angeles. The project represents a rare opportunity to deliver high-impact affordable housing in one of the San Fernando Valley's most underserved rental markets, strategically positioned within a designated Transit Priority residential area and a federally designated Opportunity Zone. The project will be delivered RTI within 90 days, providing investors with a near-term, shovel-ready development opportunity. Approved plans call for a 3-story, 78-unit apartment community totaling approximately 35,041 square feet of oor area. The 3-story design utilizes Type VA construction, which helps minimize development costs compared to podium or high-rise structures, while maintaining NFPA-13 sprinklers and full CBC accessibility compliance. The unit mix is designed for optimal absorption and affordability, including 31 studios, 40 one-bedrooms, and 7 two-bedrooms, while maximizing density through AB 1763 and AB 2334 incentives. Although parking is not required as an ED1 project, the development uniquely includes 40 surface parking spaces, adding both tenant convenience and additional investor appeal. A combination of rooftop and landscaped open spaces will serve as communal amenities for residents. Located in a federally designated Opportunity Zone, the project offers investors valuable tax incentives, including potential deferral, reduction, and exclusion of capital gains on qualifying investments. This designation enhances after-tax returns while aligning with long-term community revitalization. Sun Valley and Pacoima are in the midst of major revitalization efforts led by both the City and County of Los Angeles. These initiatives aim to create a walkable, community-focused district centered around arts, dining, and retail, which is expected to drive long-term growth, neighborhood revitalization, and demand for new housing. With its prime location, favorable zoning overlays, Opportunity Zone status, and alignment with Los Angeles' affordable housing mandates, Olinda Apartments presents an exceptional opportunity for investors to deliver critically needed housing while beneting from strong public policy support, durable market fundamentals, and meaningful tax incentives.
Location
State CA
County Los Angeles
Area Sunv - Sun Valley
Zoning LAR1
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 2408012004
Special Listing Condition Standard
Listed by Filip Niculete Marcus & Millichap
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