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California Regional Multiple Listing Service

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Home / North Hollywood / 4635 Tujunga Avenue
4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 4635 Tujunga Avenue North Hollywood, CA 91602 View All Photos

$2,950,000

| Active

4635 Tujunga Avenue

North Hollywood, CA 91602

0.32
Acres
8
Days on Market
26856035
MLS#
Land
Structure
Residential
Zone
Contact
Listing OfficeLyon Stahl Investment Real Estate, Inc.

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.

Property Details
Acres
0.317
Lot Size (sqft)
13805.0
Parking Spaces
0.0
Property Type
Purchase
County
Los Angeles
Region
North Hollywood
Zoning
R3-1
Original List Price
$2,950,000
MLS #
26856035
Property Subtype
Land
Parcel Number
2354008031
MLS #
26856035
Date Listed
July 06, 2026
Address
4635 Tujunga Avenue
Location
Legal

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Provided By
Listed by Benjamin Lee (#CLW-C145142)
Listing Office: Lyon Stahl Investment Real Estate, Inc. (#CLW-X82195)

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