Fully Entitled Permit Ready Opportunity Zone

Unlock the potential of a fully entitled affordable housing development opportunity at 11523 Sproule Avenue in Pacoima, California. Spanning 0.44 acres, the level site offers existing access to streets, water, and sewer utilities, streamlining the path toward construction. The property is improved with a single-family residence that can be removed to support future development. Located within a federally designated Opportunity Zone, the site may offer attractive tax benefits and capital gains incentives for qualified investors. Approved plans allow for the development of 41 affordable housing units, including approximately 370-square-foot studios and 472-square-foot one-bedroom residences. Planned improvements include cost-efficient Type V construction and surface parking, enhancing both development feasibility and resident convenience. With entitlements secured and housing demand continuing to outpace supply, this offering represents an exceptional opportunity to bring new affordable housing to a high-demand infill location in the San Fernando Valley. Strategically located, 11523 Sproule Avenue benefits from convenient access to Interstate 5, State Route 118, and Interstate 210, providing connectivity throughout the San Fernando Valley and to major employment centers including Los Angeles, Burbank, Glendale, Pasadena, and Santa Clarita. Residents and visitors enjoy proximity to a wide range of retail and daily conveniences, including Lake View Terrace Shopping Center, Pacoima Plaza of Stars, Target, Lowe’s, Costco Wholesale, and other national retailers. The surrounding area also offers recreational and community amenities, including Hansen Dam, scenic golf courses, and Whiteman Airport. Pacoima, California, is a densely populated, renter-oriented community with more than 67,500 residents and approximately 47% of households renting. As housing affordability remains a critical challenge across Los Angeles, demand for affordable housing continues to grow. Supported by initiatives and policies encouraging new housing development, 11523 Sproule Avenue is well-positioned to capitalize on the growing need for quality affordable housing as population growth and rising housing costs continue to impact the region. Property tours are available by appointment only. Please contact the listing broker to schedule.