Marcus & Millichap Secures $12.95M Listing for Development site in Valley Village, CA

VALLEY VILLAGE, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Sherman Village, a 150,486-square foot development site in Valley Village, a district in the San Fernando Valley region of Los Angeles.

The listing price is $12.95 million.

Greg Harris, (bottom left photo) executive vice president investments and a senior director of the firm’s National Multi Housing Group (NMHG) in Encino, is representing the seller, a Southern California-based private investor.

“Valley Village is a prime San Fernando Valley location adjacent to Sherman Oaks and Studio City,” says Harris. “The area’s average household income is approximately $90,806 per year.”

Located at 12629-12729 Riverside Drive in Valley View, the property is near U.S. Route 101, the Ventura Freeway, Interstate 405, the San Diego Freeway and State Route 170, the Hollywood Freeway. The asset is also proximate to the Sherman Oaks Fashion Square and the Sherman Oaks Galleria.

Sherman Village is a 3.45-acre site entitled for the development of 264 multifamily units on eight parcels.

Founded in 1939, Valley Village was an upscale part of North Hollywood until officially recognized by the Los Angeles City Council as a separate community.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716