Listing Agency: Keller Williams Hollywood Hills

Listed By: Daniel Lalezari · License #01949474 Show Phone

Source: Frontgaterealestate

Added: Jun 26 Changed: Oct 25 Last Checked: Jul 21 at 1:19AM

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Investment Insights

Based on property information with market context.

6401 Whitman Ave is a fully entitled, shovel-ready RTI (Ready to Issue) permit project for the construction of 37 affordable apartment units. The plan includes a manager’s office that can be converted into a unit, with 19 one-bedroom layouts and 18 studios, arranged in a Type V, four-story stacked configuration on a corner lot with all wood frame floors. The project features laundry rooms on each floor, along with an outdoor bicycle area and storage.

The property is described as directly across the street from Woodley Park and the Orange Line. The remarks also state the site is across from the freeway and is close to major shopping retailers including Super King and Costco, with Lake Balboa providing access to Encino, Sherman Oaks, and Van Nuys.

The submitted plan totals 15,111 square feet of livable area and 16,780 square feet of buildable area. Unit sizes are described as approximately 268–338 square feet for studios and 352–465 square feet for one bedrooms, and the plans state there is no parking requirement. The site is currently vacant land and positioned for developers to begin construction upon permitting.

Key Highlights

• Fully entitled, RTI (Ready to Issue) permit project for 37 units—vacant land ready to start building right away
• Type V, four‑story fully stacked design on a corner lot with 15,111 SF livable area and 16,780 SF buildable area
• Unit mix: 19 studios and 18 one‑bedrooms, plus a manager’s office that can be converted into a unit

Property Analytics

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Suggested Use

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Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,789

Businesses Nearby

Explore this area Business Placement

Demographics for 91406, CA

53,252

Population

19,650

Households

2.7

Avg Household Size

37

Median Age

29%

College-Educated

77%

High-School Grad

8.1 sq mi

ZIP Area

6,574

Density / Sq Mi

$76,653

Median Household Income

$41,469

Median Earnings

$1,859

Median Rent

$765,000

Median Home Value

Frequently Asked Questions

What type of property is this?

Residential land & home lot - Fully entitled, RTI-permit project site for a 37-unit affordable apartment development.

Where is this residential land & home lot located?

The property is located at 6401 Whitman Ave Lake Balboa, CA.

What is the asking price?

The asking price for this property is $1,599,999.

What are key features of this property?

This property features: Fully entitled, RTI (Ready to Issue) permit project for 37 units—vacant land ready to start building right away; Type V, four‑story fully stacked design on a corner lot with 15,111 SF livable area and 16,780 SF buildable area; Unit mix: 19 studios and 18 one‑bedrooms, plus a manager’s office that can be converted into a unit