Executive Summary
14719 Magnolia Boulevard is a 6,914 SF lot in Sherman Oaks, a third of a mile west of Van Nuys Boulevard and about a mile north of Ventura Boulevard. It is improved with a 1949 triplex of 2,200 SF; its three units are registered under the City's Rent Stabilization Ordinance.
The owner rezoned the lot to R3 and has carried a 12-unit, four-story apartment building over a subterranean garage through plan check under the State Density Bonus: 10 one-bedroom and 2 two-bedroom units, 2 of them Very Low Income, with 13 parking spaces. The plans are stamped and the remaining items are agency clearances. Two buyer pools will look at the site: builders who want a ready Sherman Oaks project, and affordable housing developers, who paid $183 to $194 per land SF for nearby sites in the last 18 months. We recommend a list price of $1,395,000 ($201.76 per land SF).
Subject Property
The Approved Plans
The plan set by Daryoush Safai, AIA, was stamped by the City on 04/28/2026. It uses the State Density Bonus: 2 Very Low Income units (15% of the 9-unit base) earn 3 bonus units and two on-menu incentives, an 11-foot height increase and 20% side-yard reductions.
| Floor | 1 Bedroom | 2 Bedroom | Units | Notes |
|---|---|---|---|---|
| Basement | Garage: 9 spaces (2 tandem), 12 long-term bicycle spaces | |||
| 1st floor | 2 | 0 | 2 | Lobby and 4 parking spaces |
| 2nd floor | 3 | 1 | 4 | |
| 3rd floor | 3 | 1 | 4 | |
| 4th floor | 2 | 0 | 2 | 1,395 SF roof deck |
| Total | 10 | 2 | 12 | 10 market rate, 2 Very Low Income |
Where the Permit Stands
LADBS's clearance worksheet, printed 10/28/2026, lists what must be signed off before the building permit issues. Most remaining items are routine sign-offs and fees; the ones that take the most time are the City Planning approvals and LAHD's replacement-unit compliance.
Cleared
- Address assignment (Bureau of Engineering)
- Site drainage and LID (Engineering and Sanitation)
- Planning pre-application reviews
- Green building compliance
- Fire hydrants and access
- LADWP power line clearance
Open
- City Planning: zone change (T) clearance, density bonus case ADM-2025-28-DB-VHCA, open space and landscape
- LAHD: compliance with the Replacement Unit Determination
- LADBS: accessibility and zoning plan check corrections
- Fire Department: fire and life safety review
- Bureau of Engineering: sewer connection, public-way encroachment, the E-permit for basement excavation along Magnolia, and two fees
- Street Services: driveway and sidewalk work
Location
North Sherman Oaks, between the two boulevards. The site is 0.3 miles from Van Nuys Boulevard and about a mile from Ventura Boulevard, the Sherman Oaks Galleria (1.0 mile) and Westfield Fashion Square (1.1 miles). Sherman Oaks Hospital is 0.4 miles away. Walk Score rates the block "Very Walkable" at 73.
A renter's neighborhood with ownership prices. In ZIP 91403, 55% of households rent, the median household income is about $116,000 and the median home value is about $1.52 million (2024 American Community Survey). Fewer than 1% of the ZIP's homes were built since 2020, so new apartments are scarce.
The block is already turning over. Magnolia between Kester and Van Nuys is lined with apartment buildings. Next door, 14744 Magnolia has a 50-unit affordable plan on file, and a third of a mile southwest, 5003 and 5007 Kester sold this summer to a buyer who filed a 77-unit building.
Development Pathways
The site has two realistic buyer pools. Both start from the same rezoned lot; they differ in what gets built and how fast.
- Build the approved plan: four stories over a subterranean garage, 13 parking spaces, roof deck and elevator.
- Plans stamped 04/28/2026; the building permit issues once the open clearances are signed off.
- New one-bedrooms nearby ask about $2,700 to $3,450 a month and new two-bedrooms about $3,400 to $3,750.
- The route nearby R3 sites are taking: 77 units filed on 12,530 SF at 5003-5007 Kester, and 50 units planned on 6,501 SF next door at 14744 Magnolia.
- Scaled to this lot, those plans point to about 40 to 50 units.
- A new design and filing; ministerial approval for qualifying projects.
Land Sales Comparables
Eight closed apartment development sites within about 3 miles, recorded from February 2025 to August 2026. Each one sold for its land: the buyer filed a new building, or the site sold with plans already filed or permitted.
| # | Address | Zoning | Lot SF | Sale Price | $/Land SF | Closed | Site and Plans | Dist. |
|---|---|---|---|---|---|---|---|---|
| S | 14719 Magnolia Blvd (subject) | (T)[Q]R3 | 6,914 | $1,395,000 | $201.76 | Proposed | 1949 RSO triplex; stamped plans for 12 units | |
| A | 5003-5007 Kester Ave | [Q]R3 | 12,530 | $2,425,000 | $193.54 | Aug 2026 | Duplex and fourplex, two parcels; 77-unit 100% affordable filed after the sale | 0.34 mi |
| B | 14233 Delano St | [Q]R3 | 7,504 | $1,200,000 | $159.91 | Jul 2026 | Sold with a 14-unit affordable permit about to issue | 1.37 mi |
| C | 14658 Gilmore St | [Q]R3 | 9,225 | $1,690,000 | $183.20 | Apr 2025 | Vacant; sold with a 48-unit affordable plan close to permit | 1.54 mi |
| D | 6311 Hazeltine Ave | [Q]RD1.5 | 10,620 | $1,150,000 | $108.29 | Feb 2025 | 16 units plus 2 ADUs filed after the sale | 1.58 mi |
| E | 5950 Buffalo Ave | [Q]C1 | 8,522 | $1,460,000 | $171.32 | Aug 2025 | Sold with an 18-unit TOC plan in plan check | 1.68 mi |
| F | 6604 Vesper Ave | [Q]CR | 10,475 | $1,250,000 | $119.33 | Jul 2026 | Two parcels; 20-unit mixed use (2 VLI) filed after the sale | 1.79 mi |
| G | 12750 Moorpark St | R3 | 8,237 | $3,000,000 | $364.21 | May 2026 | Studio City; sold the day its 51-unit affordable permit issued | 2.66 mi |
| H | 7005 Woodley Ave | R3 | 11,315 | $1,276,000 | $112.77 | Mar 2026 | Vacant; 21-unit density bonus over a subterranean garage, in plan check since 2021 | 2.84 mi |
| Average (A-H) | 9,804 | $1,681,375 | $176.57 |
Recorded prices and dates from LA County Assessor transfer records; lot sizes per the Assessor; zoning per LADBS permit records; plans per LADBS filings, October 2026. $/SF is the recorded price over Assessor lot area. Median of the set: $165.62 per SF. The four sales on [Q]R3 or R3 land closest to the subject (A, B, C, E) range from $159.91 to $193.54. Fourteen other sites that sold in the same period, mostly duplex and fourplex lots, are in our comp file and left out here.
Active Land Listings Nearby
| Address | Lot SF | Asking | $/Land SF | Notes |
|---|---|---|---|---|
| 14744 Magnolia Blvd | 6,501 | $2,200,000 | $338.41 | Next door; 50-unit affordable plan, marketed to deliver Ready-to-Issue |
| 6640 Kester Ave | 11,094 | $1,595,000 | $143.77 | Vacant; 12-unit TOC plan, grading approved |
| 14822 Delano St | 7,500 | $1,099,000 | $146.53 | Vacant; lender-owned, no plans |
| 6901 Woodman Ave LAAA Team Listing | 10,005 | $1,400,000 | $139.93 | Ready-to-Issue, 55 affordable units |
Asking prices as advertised, October 2026; status to be confirmed with each listing broker.
Key Takeaways
R3 sites near the subject trade at $160 to $194 per land SF. The closest sale, 5003-5007 Kester a third of a mile away, closed at $193.54 this summer. Van Nuys sites that sold with plans near permit closed at $159.91 to $183.20.
Plans and permits move the price. The sales at the top of the range had plans close to permit when they sold, and 12750 Moorpark sold for $364.21 the day its permit issued. This site's stamped plans and near-final permit put it with that group.
Two buyer pools. A builder who wants a ready 12-unit Sherman Oaks building, and affordable developers who will redesign for about 40 to 50 units. Marketing to both is what gets this site above the Van Nuys sales.
Two items buyers will price. The three RSO units, and whether they are occupied, set how soon demolition can start. The open clearances, chiefly City Planning and LAHD, set when the permit issues.
Pricing Recommendation
At $1,395,000 the site is priced at $201.76 per land SF, just above the closest sale, 5003-5007 Kester at $193.54 a third of a mile away, and above the Van Nuys sites that sold with plans at $159.91 to $183.20. The premium reflects what those sales did not have together: a Sherman Oaks address, a completed zone change, and City-stamped plans with the building permit in its final clearances, which saves a buyer the design, entitlement and plan check time this owner has already spent.
For an affordable developer, the price works out to about $28,000 to $35,000 per unit on a 40 to 50 unit building, in line with what Kester's buyer paid. We expect offers between $1,250,000 and $1,400,000. Confirming the occupancy of the three units, and clearing the City Planning and LAHD items before launch, will move the price toward the top of that range. The sale is well below the Measure ULA threshold.
Marketing Reach
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Also Marketed by the LAAA Team
The LAAA Team is currently marketing 8 land and development-site listings across Southern California. Each card links to the full offering at www.laaa.com.
Active laaa.com land listings as of October 29, 2026, excluding properties in escrow.
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