Executive Summary

DOWNLOAD OFFERING MEMORANDUM

The Neema Group of Marcus & Millichap is pleased to present the opportunity to acquire a +/-17,001 SF residential development site zoned [Q]C1.5-1VL in a Tier 3 TOC on Woodman Ave in Van Nuys, CA. The lot is located on a heavy trafficked thoroughfare in Van Nuys with an average of 24,000 daily traffic count with over 115 feet of frontage on Woodman Ave. The current use is a preschool and the tenant requires a two-year leaseback.

Located in the Central Valley, 6330 Woodman Ave is within 25 minutes of downtown Burbank and the Warner Center. The subject property has a walk score of 82 and is walking distance to the metro gold line and in close proximity to the 405, 101 and 170 freeways.

Area Overview

Valley Glen

Residents of Valley Glen, a neighborhood in the southeastern San Fernando Valley, enjoy a lower cost of living than many of the surrounding communities while still having access to all the amenities and easy transportation the Valley offers. Valley Glen features streets filled with mid-century homes with well-kept lawns and large apartment complexes surrounded by tall trees. The Tujunga Wash Greenway gives locals a welcoming place to walk their dogs and to marvel at the renowned half-mile mural depicting the history of California.

Valley Glen is home to Los Angeles Valley College, a junior college, as well as to Grant High School, which features a specialized film program and a highly ranked academic decathlon team. Small shopping centers in the neighborhood meet basic needs, with higher-end shopping available in neighboring Sherman Oaks and quirky theatrical offerings just next door in the NoHo Arts District.

San Fernando Valley

The San Fernando Valley is a region of Los Angeles County in Southern California, nestled to the northwest of the Los Angeles Basin. The San Fernando Valley includes the northern half of the city of Los Angeles; two-thirds of the Valley’s area is within Los Angeles’ city limits. Other cities in the Valley include Van Nuys, Sun Valley, Valley Glen, North Hollywood & Panorama City.

Most of the Valley is laid out in a grid pattern with streets running east-west and north-south. The car is the main method of transportation in the Valley, as well as all the Los Angeles area, but Metro buses and Metro Rail, and Metrolink commuter trains can help you get around. The Metro Orange Line is a busway that runs east-west from the North Hollywood Metro Rail station to the Warner Center business district in Woodland Hills then north-south up to its terminus in Chatsworth. Several bike paths and bike lanes can be found. Walking can be an option in denser neighborhoods such as Downtown Burbank, the NoHo Arts District, and along Ventura Boulevard. For sheer length and diversity, Ventura Blvd in the San Fernando Valley would satiate any shopping need in its 10-mile stretch.

Located less than 20 miles away from LA’s Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley, residents living in Van Nuys can easily get around town without a hitch. Cutting through the middle of the neighborhood is the 405 freeway (San Diego Freeway), but the community is also near the 101 (Ventura Freeway), 170 (Hollywood Freeway), 118 (Simi Valley Freeway), and the I-5 (Golden State Freeway). Residents living in this neighborhood can also skip the busy commute to LAX, and instead, hop on a flight out of Van Nuys or Burbank Airport.

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