4635 Tujunga Avenue, North Hollywood, California image 1
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4635 Tujunga Avenue

North Hollywood, CA 91602
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$2,950,000 $12,437/Mo
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SqFt13,805

Sqft(Lot)

We are pleased to present 4635-4639 Tujunga Avenue, a fully entitled affordable housing development opportunity located in the highly desirable Studio City / Valley Village corridor of North Hollywood. Situated on a 13,805 square foot site, the property is approved for a 58-unit income-restricted apartment community and qualifies for Tier 3 Section 8 rents. Positioned within a High Resource Area under the TCAC/HCD Opportunity Map and designated as a High Opportunity Area by HUD, the project offers developers meaningful advantages for tax credit scoring while enhancing long-term investment fundamentals. Delivered vacant and fully Ready-to-Issue (RTI), the project allows a developer to commence construction immediately without entitlement risk. All discretionary approvals have been completed , eliminating years of processing time, carrying costs, and approval uncertainty, allowing investors to focus on execution rather than entitlement. The approved plans feature a highly efficient six-story Type III-A building totaling approximately 37,930 square feet of residential area. By utilizing special code provisions that eliminate the need for a costly concrete podium, the design significantly improves construction efficiency and project economics. The thoughtfully designed unit mix consists of 55 one-bedroom units, 2 two-bedroom units, and 1 three-bedroom unit, maximizing efficiency while addressing the strong demand for affordable housing throughout the San Fernando Valley. Ideally positioned at the intersection of Studio City, Valley Village, and Toluca Lake, the property offers immediate access to some of Southern California's largest employment centers, including NBCUniversal, Warner Bros. Studios, Walt Disney Studios, and the broader Burbank Media District. The surrounding neighborhoods are characterized by predominantly higher-income single-family housing with limited affordable inventory, creating sustained demand from employees seeking quality workforce housing in a high-opportunity location. Recent updates to TCAC rent schedules, effective July 1, 2026, further strengthen the investment profile. Schedule IX now permits rents of up to $2,499 for one-bedroom units, while approximately 20% of the project's units designated under Schedule VI are eligible for rents of up to $2,247. These enhanced payment standards narrow the gap between restricted and market rents, improving project underwriting and supporting stronger long-term valuations. Additionally, developers pursuing maximum yield may realize further upside through Section 8 voucher participation. Combined with HACLA's continued support for voucher mobility into high-opportunity neighborhoods, the project offers a compelling opportunity to maximize stabilized income while delivering much-needed affordable housing in one of the Valley's strongest rental markets.

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Detail Ic Property Details

Property Type : Land

Price : $2,950,000

AD Id : 87655079

MLS Id : 26856035

Lot Size : 13,805 Sqft(Lot)

County : Los Angeles

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  • Lot Information

    Lot Dimensions: 50x129 Main Square Feet: 13805 Lot Size Acres: 0.3169 Lot Size Source: Builder Lot Size Square Feet: 13,805

  • Listing Price Information

    Listing Price: $2950000

  • Tax Information

    Parcel Number: 2354008031

  • Location Information

    Direction: From the 101, exit Tujunga Ave and head north. Property is on Tujunga Ave between Moorpark St and Riverside Dr, south of Riverside Dr and north of Moorpark St.
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The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 08/26/2026 @ 04:48

MLS: 26856035 LISTED BY: Benjamin Lee, Lyon Stahl Investment Real Estate, Inc. 310-425-9838 SOURCE: CRMLS

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