Multifamily Development Opportunity in Van
For Sale
$1,350,000
7222 Tyrone Avenue, Van Nuys, CA 91405
Entitled multifamily development site in high-demand Van Nuys neighborhood.
Property Size6,752 SF
Lot Size0.15 Acres
Price / SF$199.94
Days on Market268
Property Features for 7222 Tyrone Avenue
General Information
Standard status
Active
Size
6,752 SF
Lot size
0.15 Acres
Property subtype
Land Lot
Zoning
LAR1
Amenities
No
Listing Agency:
Marcus & Millichap
(818) 726-0922
Listed By:
Sevak Keshishian · License #01887505
(818) 726-0922
Source:
Compass
Added: Nov 14, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
This is a development opportunity located at 7222 Tyrone Ave in Van Nuys, California. The property is a fully entitled multifamily development site in a high rental demand neighborhood. The project has approvals for an 11-unit modern apartment building spanning four stories above grade, including 10 market-rate units and 1 unit designated for a Very Low-Income tenant. The 13,333 square foot project will have a unit mix consisting of 6 one-bedroom/one bathroom units, 3 two-bedroom/one-bathroom units, and 1 two-bedroom/two-bathroom units with 10 on-grade parking spaces. The property will be delivered "RTI" and shovel ready at the close of escrow. The 6,750 square foot corner lot is near the intersection of Sherman Way and Tyrone Ave and currently has a vacant single-family residence. The approvals encompass a mix of one-bedroom, two-bedroom, and three-bedroom units complete with on-grade parking. This project is an opportunity for a local developer looking to build immediately in an area that is deficient in new single-family home construction and boasts a very high rental demand for apartment units. The property's proximity to a major thoroughfare provides accessibility, while rental market fundamentals support demand for quality multifamily housing in Van Nuys.
Key Highlights
- Fully entitled multifamily development site ready for immediate construction ("RTI" and shovel ready).
- Approved plans for an 11‑unit modern apartment building (10 market‑rate, 1 Very Low‑Income).
- Located in Van Nuys, a high rental demand neighborhood.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 91405, CA
55,319
Population
19,822
Households
2.8
Avg Household Size
36
Median Age
26%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
16,270
Density / Sq Mi
$61,207
Median Household Income
$34,833
Median Earnings
$1,736
Median Rent
$698,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Entitled multifamily development site in high-demand Van Nuys neighborhood.
Where is this residential land & home lot located?
The property is located at 7222 Tyrone Avenue Van Nuys, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Fully entitled multifamily development site ready for immediate construction ("RTI" and shovel ready).; Approved plans for an 11‑unit modern apartment building (10 market‑rate, 1 Very Low‑Income).; Located in Van Nuys, a high rental demand neighborhood.
