Proposed 100% Affordable (ED1+ AB2345) 6-Story 195-Unit Apartment 5-Story Type VA R-2 Occupancy over 1-Story Type 1A S-2 Parking Garage (w/ 80% set aside for Low Income & 20% set aside for Moderate Income) No parking required/provided Building Height= 65’-10 1/2” (35’-0” max per LAMC/ CDO).
Marcus & Millichap is pleased to present 7008-7018 N Baird Avenue, a unique multifamily development opportunity located in Reseda, one of the most centrally located neighborhoods in the San Fernando Valley. This development opportunity is comprised of three existing residential parcels with approximately 34,654 square feet of land zoned LA[Q]R2-2D-CDO-RIO. The site also falls under “Community Commercial” General Plan Land Use.
7008-7018 N Baird Avenue is ideally located in the center of the San Fernando Valley, which boasts upper middle-class demographics, dense immediate population, high barriers to entry, and strong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth potential.
Centrally located within short walking distance of Sherman Way and Reseda Boulevard, 7008-7018 N Baird Avenue is surrounded by local boutique retailers, grocery stores, employment, and major mixed-use developments underway, including the Reseda Town Center (under construction), which will include a $26M LA Kings Ice Rink Project, retail, The Revival of Reseda Movie Theater and residential units.
The immediate area is on a path of major capital infusion and population growth. Historically, Reseda has been a predominantly single-family home neighborhood with the major commercial corridors along Reseda Boulevard and Sherman Way. With some of the local retail properties becoming aged and underutilized, developers have seen an opportunity to re-imagine Reseda into the walkable urban suburbia that it once was. With the Metro Light Rail coming to Van Nuys Boulevard in the coming years, central and west Valley residents will now have transit access to LAX, Westside Los Angeles, and Downtown.
Lonnie McDermott
Marcus & Millichap
