RTI 78-Unit Affordable Development

Highlights:

• Delivered RTI
• Great Unit Mix: Studios, 1's & 2's
• Located in Opportunity Zone
• Unique Residential Area
• 40 Surface Parking Stalls
• 3 Story Type V Construction

Description:

The LAAA Team at Marcus & Millichap is pleased to present Olinda Apartments, a 100% affordable housing development located at 10898 W Olinda Street in Sun Valley, Los Angeles. The project represents a rare opportunity to deliver high-impact affordable housing in one of the San Fernando Valley’s most underserved rental markets, strategically positioned within a designated Transit Priority residential area and a federally designated Opportunity Zone.

The project will be delivered RTI within 90 days, providing investors with a near-term, shovel-ready development opportunity. Approved plans call for a 3-story, 78-unit apartment community totaling approximately 35,041 square feet of floor area. The 3-story design utilizes Type VA construction, which helps minimize development costs compared to podium or high-rise structures, while maintaining NFPA-13 sprinklers and full CBC accessibility compliance. The unit mix is designed for optimal absorption and affordability, including 31 studios, 40 one-bedrooms, and 7 two-bedrooms, while maximizing density through AB 1763 and AB 2334 incentives. Although parking is not required as an ED1 project, the development uniquely includes 40 surface parking spaces, adding both tenant convenience and additional investor appeal. A combination of rooftop and landscaped open spaces will serve as communal amenities for residents. Opportunity Zone Benefits

Located in a federally designated Opportunity Zone, the project offers investors valuable tax incentives, including potential deferral, reduction, and exclusion of capital gains on qualifying investments. This designation enhances after-tax returns while aligning with long-term community revitalization.

Sun Valley and Pacoima are in the midst of major revitalization efforts led by both the City and County of Los Angeles. These initiatives aim to create a walkable, community-focused district centered around arts, dining, and retail, which is expected to drive long-term growth, neighborhood revitalization, and demand for new housing. With its prime location, favorable zoning overlays, Opportunity Zone status, and alignment with Los Angeles’ affordable housing mandates, Olinda Apartments presents an exceptional opportunity for investors to deliver critically needed housing while benefiting from strong public policy support, durable market fundamentals, and meaningful tax incentives.

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