18424 & 18428 ventura blvd
5324 Otis ave
PRICE
BUILDING SIZE
LOT SIZE
TARZANA, CA 91356
$4,250,000
5,537 SF
29,960 SF
PARKING
PARKING RATIO
ZONING
~63 Spaces
11.38:1,000 SF
C2-1VL, R1-1
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 18424 & 18428 Ventura Boulevard and 5324 Otis Avenue (the “Property”), a 5,537-square-foot multi-tenant storefront retail building and a 20,560-square-foot surface parking lot on a combined 29,960 square feet of land in Tarzana, just east of the signalized intersection of Ventura and Reseda Boulevards.
The retail building is six storefronts on 9,400 square feet of Ventura Boulevard frontage. Four are leased and two are vacant, 1,860 square feet in all. In-place rent is $6,825 per month, or $1.86 per occupied square foot, and three of the four tenants are month-to-month. A new owner controls the rent roll from the first day: lease the vacant suites, mark rents to market, re-tenant toward medical and service users, or occupy.
Providence Cedars-Sinai Tarzana Medical Center, which recently completed a $624 million expansion, is 0.4 miles away, and Ventura Boulevard carries 38,016 vehicles per day past the frontage. Longer term, C2-1VL zoning and the City’s housing incentive programs support up to 4.65 FAR on the frontage parcel, and SB 1123 offers a ministerial path for up to 10 homes on the rear parcel.
Across the alley, the Otis Avenue lot adds 53 parking spaces and $7,300 per month from three parking agreements with Taco Bell, Big O Tires and a Shul. Taco Bell’s agreement runs to January 31, 2030 with two five-year options. With 10 spaces on site, the Property parks at 11.38 spaces per 1,000 square feet.