A premier multifamily lot development opportunity in prime Valley Village, CA

MDGLA | McDermott Group Land Advisors is pleased to present 11906 Kling Street, a premier multifamily development opportunity located on the southwest corner of Kling and Radford in the highly sought after Valley Village neighborhood of Los Angeles, CA. This unique development opportunity is currently a 3,205 square foot single family home built in 1936. The property is comprised of approximately 16,908 square feet of land zoned LAR3-1. The asset falls under the Valley Village Specific Plan, which includes a variety of additional design regulations, including a maximum height of 46 feet

11906 Kling Street is ideally located in the high demand submarket of Valley Village, which boasts upscale demographics, dense immediate population, high barriers to entry, and strong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth potential. Centrally located within short driving distance of NoHo Arts District and the Metro Red Line Station, and conveniently positioned in the center of a broad range of employment and retail options, 11906 Kling Street is surrounded by affluent high-end neighborhoods, boutique bars / restaurants, and numerous high profile office towers and mixed use developments.

Neighboring North Hollywood has experienced a major influx of development over the last couple years. With dozens of large-scale projects now in the pipeline, Downtown is well on its way to becoming one of the most thriving and walkable places to live, work and play in greater Los Angeles. Smart development, increasing economic activity and transportation improvements are transforming NoHo into one of the most desirable neighborhoods in the region. Retail development also continues to improve. Lankershim Boulevard is emerging as a artistic destination as several new theatres, bars, and boutique restaurants joined the Arts District’s historically mom n’ pop retailers. Whole Foods, The Federal Bar, NoHo Commons and HAHA Comedy Club each bring something unique to the boulevard and attract a wide range of tourists and night-life vistors.

Due to the city’s sought after dining, nightlife and artistic lifestyle...demand for housing has reached an all time high. In order to meet the demand for housing, developers have flocked to North Hollywood to build close to $3 billion in mixed use projects from 2015 - 2020.

North Hollywood has experienced a dramatic transformation over the past decade with a steady migration of higher-income residents attracted to the area’s urban amenities, improved schools, and convenient location near key employment and entertainment centers.