Subject Property
Marcus & Millichap is pleased to present 14697 Nordhoff St, Panorama City, CA 91402 — a two-parcel, 0.53-acre (22,925 SF combined) infill assemblage in the central San Fernando Valley. The corner site fronts Nordhoff Street to the south and runs along the east side of Cedros Avenue, offering hard-corner exposure on a major east-west arterial. The southerly parcel is improved with a 846 SF single-family residence built in 1941; the northerly parcel is largely open. Both parcels are zoned RA-1 with a Low Medium II Residential General Plan designation, and both fall within TOC Tier 3 and the AB 2097 half-mile-of-transit zone.
+ 9108 & 9120 N Cedros Ave
Panorama City, CA 91402
0.53 acres · 2 parcels
1 SFR (Parcel 1)
covers both parcels
Low Medium II Residential
Specific Plan: None
AB 2097 · HQTC · AB 2334 VMT
Single Family Residence
above elev. 790 ft
Parcel Detail (Per ZIMAS)
| Parcel | Address | Lot (FR) | PIN | Lot Area | Building Line |
|---|---|---|---|---|---|
| Parcel 1 (south, on Nordhoff) | 14697 W Nordhoff St / 9108 N Cedros Ave | FR 36, Arb 2 | 198B149-544 | 12,920.6 SF | 15 ft |
| Parcel 2 (north, Cedros frontage) | 9120 N Cedros Ave | FR 34, Arb 2 | 198B149-528 | 10,005.0 SF | None |
| Combined | 22,925.6 SF (0.526 ac) | — | |||
Property Highlights
- Two-parcel, 0.53-acre infill assemblage on Nordhoff Street — central San Fernando Valley.
- Combined 22,925 SF with existing 846 SF single-family residence (1941) on the southerly parcel.
- Hard corner exposure on Nordhoff Street (major east-west arterial) at Cedros Avenue.
- RA-1 zoning, TOC Tier 3, AB 2097 (within ½ mile of major transit) — multiple density-bonus pathways.
- Bus stop frontage on Nordhoff — transit-adjacent.
- Adjacent to commercial uses on the Nordhoff frontage.
- Potential SB9 / small-lot subdivision candidate — subject to feasibility analysis.
Executive Summary
This analysis benchmarks 14697 Nordhoff St against five recent closed and pending sales of comparable San Fernando Valley residential development sites, plus the current active competing supply.
Closed & Pending Comparable Sales
Five comparable transactions from 2024 through 2026, grouped by entitlement pathway. All are older single-family residences on oversized lots acquired by LLCs for residential subdivision development.
SB1123 Pathway — Small-Lot Subdivision (up to 10 homes)
| Address | Lot SF | Price | $/Lot SF | Date | Status |
|---|---|---|---|---|---|
| 18838 Lanark St, Reseda |
27,386 |
$850,000 | $31.04 | 3/20/26 | Closed |
| 10425 Independence Ave, Chatsworth |
44,953 |
$2,340,000 | $52.05 | In Escrow | Pending |
| 17545 Parthenia St, Sherwood Forest |
102,081 |
$2,200,000 | $21.55 | 1/30/26 | Closed |
SB9 Pathway — Lot Split / Duplex Conversion
| Address | Lot SF | Price | $/Lot SF | Date | Status |
|---|---|---|---|---|---|
| 17430 Parthenia St, Sherwood Forest |
71,918 |
$2,000,000 | $27.81 | 1/21/25 | Closed |
| 17454 Parthenia St, Sherwood Forest |
45,023 |
$1,800,000 | $39.98 | 6/14/24 | Closed |
Active Competing Supply
Listings currently on-market in the broader trade area. Note these are West / North Valley listings — the closest active inventory by product type, not by ZIP.
| Address | Lot SF | Ask Price | $/Lot SF | Status | Pitch |
|---|---|---|---|---|---|
| 10810 Woodley Ave, Granada Hills | 26,197 |
$1,274,000 | $48.63 | ~190 DOM | RD3-1 / SB684 — 13-townhome feasibility study available |
| 7630 Jellico Ave, Northridge | 31,088 |
$1,550,000 | $49.86 | Active | RA zoning, MLS SR25275172 — direct size match to subject |
| Mission Hills RA-1-K corner lot |
26,027 |
Call broker | — | Active | SB1123 ministerial subdivision — up to 10 homes, 2-story |
| Northridge LARA flat near CSUN |
29,364 |
Call broker | — | Active | LARA / Triplex County Land Use — SB9 multi-family upside |
| 8855 Tyrone Ave, Panorama City | ~7,700 |
$862,000 | — | Active | SB9-approved 4-unit plan (smaller product — context only) |
Pricing Recommendation
The recommended range positions the assemblage at a defensible $/SF inside the SFV closed-comp band, with room for both end-user / SFR-buyer interest in Parcel 1 and developer underwriting on the combined two-parcel takedown.
Defensible List Range
Strategy: The 0.53-acre two-parcel assemblage on the Nordhoff/Cedros corner offers RA-1 zoning with TOC Tier 3 and AB 2097 transit benefits. The recommended range reflects SB9 / small-lot subdivision potential and the existing 1941 SFR's interim rental optionality on Parcel 1. The band provides flexibility for both an end-user / SFR buyer on Parcel 1 individually and a developer underwriting the combined takedown. Per-parcel allocations use the same blended $/SF so the combined math reconciles.
The LA Apartment Advisors Team
LA Apartment Advisors (LAAA) is a Marcus & Millichap investment sales team specializing in multifamily and land/development transactions across Los Angeles County. With 458+ transactions and over $1.46 billion in closed volume, we help property owners make confident investment decisions — whether buying, selling, or exploring the market.
(Trailing 3 Years)
Glen Scher is a Senior Managing Director at Marcus & Millichap and co-founder of the LAAA Team. A UC Santa Barbara graduate in Economics, Glen launched his career in 2014 and earned Rookie of the Year from the SFV Business Journal by 2016. A former Division I golfer, he captured three collegiate titles and was named UCSB Male Athlete of the Year.
Filip Niculete is a Senior Managing Director at Marcus & Millichap and co-founder of the LAAA Team. Born in Romania and raised in the San Fernando Valley, Filip studied Finance at San Diego State University and began his career at Marcus & Millichap in 2011. Known for execution, integrity, and relentless work ethic, Filip and the LAAA Team consistently lead the market in active inventory across Los Angeles.
Team Members
LAAA Active Development Site Inventory
A snapshot of every development site LAAA currently has on the market — 15 active listings totaling $68.7M and 1,532 buildable units across the LA region. Listing 14697 Nordhoff with LAAA means immediate access to the active developer-buyer pool already engaged across this portfolio.