Property Detail

5511 Ethel

Sherman Oaks CA 91401

$9,000,000

Status: Active

Property Details

Description

The LAAA Team of Marcus & Millichap is pleased to present 5511 Ethel Avenue, a 199-unit, 100% affordable, in-entitlement multifamily development opportunity in the heart of Sherman Oaks. This scale of affordable housing in such a high-barrier to entry Sherman Oaks location is exceptionally rare. In a submarket where new construction one-bedroom rents exceed $3,000, this project delivers urgently needed workforce and affordable housing, directly addressing the region's acute supply constraints for cost burdened renters.PropertyDesigned by JZA Architecture, one of Los Angeles' leading firms specializing in large scale ED1 and 100% affordable housing projects, the proposed six-story community features an efficient stacked design that maximizes unit yield, constructability, and long-term operating efficiency. JZA's deep experience with Executive Directive 1 (ED1) and entitlement driven affordable housing ensures a thoughtfully executed plan that aligns with both policy requirements and modern design standards.The project delivers a highly efficient unit mix of 175 one-bedroom units, 14 two-bedroom units, five three-bedroom units, and five studios, creating a versatile and modern housing tailored for affordable and workforce households. While the development qualifies for no parking requirement, the project provides 147 on-site subterranean and 1st floor parking stalls, offering a significant competitive advantage in tenant convenience.LocationStrategically located within walking distance of major transit routes, the site benefits from High Quality Transit Corridor status and direct access to Ventura Boulevard's retail and employment centers. Importantly, the property sits within walking distance of Los Angeles Valley College (LAVC), a major regional institution serving more than 30,000 students annually, with no on-campus housing. This proximity positions the project to capture strong everyday demand, while also benefiting from LAVC's steady daytime population, workforce pipeline, and multi-year campus modernization investment. The presence of a large, stable educational anchor enhances the site's long-term relevance for affordable and workforce housing, supporting occupancy resilience and broad-based tenant demand.The surrounding submarket of Sherman Oaks continues to exhibit strong fundamentals for affordable and workforce housing, supported by diverse employment anchors, transit connectivity, and limited new supply due to zoning constraints. With new-construction one-bedroom rents now exceeding $3,000 per month, demand for attainable, income-restricted housing remains exceptionally high, further reinforcing the long term stability and absorption strength of this project.

Map Location

Listing provided courtesy of Filip Niculete of Marcus & Millichap. Last updated 2025-12-16 09:21:03.000000. Listing information © 2025 CRMLS.

Ever Eternity

Ever Eternity

CA DRE# 01794748

1111 Prospect St, Suite 100 La Jolla,
​​​​​​​CA 92037

858.688.4113

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Welcome

Meet Ever

Ever Eternity is Your Local Real
Estate Professional

Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

People choose to work with me for my full service expertise, experience and ethics. My base of loyal customers is the reason I am successful in this competitive sales market.

​My attention to detail allows me to find dream homes for buyers, and build thorough home marketing plans for my sellers. I have great pride in my negotiation skills and believe in transparency and full disclosure throughout each deal. I value open communication with my clients and welcome questions from start to close.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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