The offering at a glance.
A 20,909 SF West Hills development parcel delivered fully entitled under California's SB 1123 ministerial subdivision pathway, with an approved Tentative Tract Map — a 10-home detached small-lot subdivision, five homes with attached ADUs.
Executive
Summary.
An entitled SB 1123 small-lot subdivision — delivered with a Tentative Tract Map — in West Hills, the highest-priced submarket on Shoup Avenue.
Delivered fully entitled under SB 1123 with an approved Tentative Tract Map and a complete JZA architectural set.
West Hills 91307 — the premier Shoup Avenue submarket. Existing 3BR stock trades at $530–$690/SF.
$650/SF exit drives an $11.30M gross sellout and a $2.0M residual land value after a $7.21M cost stack.
Six reasons 6540 Shoup stands apart.
Delivered Fully Entitled
Conveyed with an approved Tentative Tract Map and a complete JZA architectural set under SB 1123 — site plan, elevations, floor plans, and area calculations. A finished entitlement, not raw land.
Ministerial SB 1123 Pathway
Entitled under SB 1123 — a ministerial, no-discretion, CEQA-exempt small-lot subdivision within a Transit Priority Area. The buyer takes delivery past 12–18 months of entitlement risk and carry.
A 10-Home For-Sale Subdivision
10 detached three-story homes (1,249–2,113 SF, avg 1,660 SF), each with attached two-car garage and rooftop deck; five include attached ADUs for income or sale-included premium.
West Hills Pricing Power
The highest-priced submarket on Shoup Avenue. Existing 3BR detached stock trades $530–$690/SF; the direct neighbor closed at $939,000, supporting a $650/SF new-construction exit.
Proven Product Type
Contour at NoHo — the only fully closed-out SFV small-lot detached subdivision in the last 12 months — sold all 10 homes in six months at $462/SF blended. West Hills carries a 25–35% submarket premium.
Clean Site, No Relocation
A single 1954 SFR to be demolished — no tenants to relocate and no affordable-replacement obligation. Attached two-car garages on every parcel support marketability to retail end-users.
A built-in ADU suite — a 4th bedroom, or income from day one.
Five of the homes are designed with an integrated, fully permitted ADU-style suite — its own entrance, kitchenette, bedroom, and bathroom. It's the same "home-within-a-home" concept Lennar markets nationally as Next Gen®: flexible space a buyer can use as a fourth bedroom, a multi-generational suite, or a rental that helps carry the mortgage — and because it's permitted from day one, it strengthens financing right at purchase.
Rental Income Qualification
Agency guidelines (e.g., Freddie Mac) generally let a buyer count a portion of projected ADU rent against their housing expense — lowering DTI and supporting a larger loan than a standard single-family home.
Multi-Generational Flexibility
Built for aging parents or a returning college student. Lenders view the suite as a way to pool family income or cut living costs — improving the odds of approval.
Permitted From Day One
Delivered fully permitted, the suite skips the costly appraisal and permitting hurdles of adding a standalone ADU later — a cleaner appraisal and a faster path to close.
Next Gen® is a registered trademark of Lennar Corporation, referenced for comparison only. ADU rental-income and financing treatment vary by lender and loan program; buyers should confirm with their lender.
The
Property.
Entitled, with a Tentative Tract Map.
Delivered fully entitled — with an approved Tentative Tract Map.
JZA Architecture (Culver City) — Jeff Zbikowski, AIA. Delivered with a complete architectural set and an approved Tentative Tract Map.
Within ZI-2452 TPA — a transit-priority designation that streamlines the ministerial pathway. The project provides attached two-car garages on every parcel for end-user marketability.
2023 CBC / CRC. SB 1123 setback waivers requested (4-ft side/rear); bulk and FAR within base RA-1 envelope on a per-parcel basis.
The Residual
at the Ask.
The architectural set defines 10 distinct parcels — sellout applies the comp-derived $650/SF to each parcel's combined SFR and ADU area.
| Parcel | Lot SF | SFR SF | ADU SF | Garage | Sellout |
|---|---|---|---|---|---|
| Parcel 1 (corner) | 2,210 | 1,617 | 370 | 2-car | $1,291,550 |
| Parcel 2 | 1,856 | 1,617 | 363 | 2-car | $1,287,000 |
| Parcel 3 | 1,856 | 1,612 | 363 | 2-car | $1,283,750 |
| Parcel 4 | 1,750 | 1,678 | 343 | 2-car | $1,313,650 |
| Parcel 5 | 1,750 | 1,678 | 343 | 2-car | $1,313,650 |
| Parcel 6 | 1,856 | 1,605 | — | 2-car | $1,043,250 |
| Parcel 7 | 1,856 | 1,605 | — | 2-car | $1,043,250 |
| Parcel 8 | 2,933 | 1,473 | — | 2-car | $957,450 |
| Parcel 9 | 1,936 | 1,473 | — | 2-car | $957,450 |
| Parcel 10 (rear) | 2,611 | 1,249 | — | 2-car | $811,850 |
| Gross sellout (per-parcel sum) | 20,614 | 15,607 | 1,782 | 10 garages | $11,302,850 |
Total development cost · $7.21M.
| Line Item | Basis | Amount |
|---|---|---|
| Hard construction — SFRs | 16,603 SF × $250/SF | $4,150,750 |
| Hard construction — ADUs | 1,782 SF × $250/SF | $445,500 |
| Hard construction — garages | 4,500 SF × $150/SF | $675,000 |
| Hard cost subtotal | $5,271,250 | |
| Site work, utilities, hardscape | $20/SF × 20,909 SF | $418,000 |
| Soft costs — CDs, permits, fees, A&E | flat | $500,000 |
| Financing — interest carry | ~8% of total cost | $577,000 |
| Contingency | 5% of hard + site | $284,500 |
| G&A, project management | 3% of hard | $158,000 |
| Total development cost (ex-land, ex-profit) | $7,208,750 |
$2.0M residual land value · $96/lot SF.
| Line Item | Basis | Amount |
|---|---|---|
| Gross sellout — homes + ADUs | 17,389 SF × $650/SF | $11,302,850 |
| Less: marketing & sales | 5.0% | ($565,143) |
| Net revenue | $10,737,707 | |
| Less: total development cost | ex-land | ($7,208,750) |
| Less: developer profit | balance to developer | ($1,528,957) |
| Residual land value | $96 / lot SF | $2,000,000 |
Sale
Comparables.
Recent 3-bedroom closings in West Hills 91307 and adjacent Woodland Hills. New-construction product commands a 10–20% premium to the existing-stock band.
| # | Address | Bd/Ba | SF | Close | Price | $ / SF |
|---|---|---|---|---|---|---|
| ★ | 6540 N Shoup · Subject (brand-new exit) | 3+ | 1,660 | Pro Forma | ~$1,079,000 | $650 |
| 1 | 6414 Shoup Ave ↗ · direct neighbor | 3/2 | 1,771 | Feb 2025 | $939,000 | $530 |
| 2 | 7500 Sale Ave ↗ | 3/2 | 1,358 | Feb 2026 | $865,000 | $637 |
| 3 | 23861 Victory Blvd ↗ | 3/2 | 1,160 | Jan 2026 | $800,000 | $690 |
| 4 | 7137 Shoup Ave #22 ↗ · townhouse | 3/2.5 | 1,600 | Aug 2025 | $685,000 | $428 |
| 5 | 7225 Shoup Ave #1 ↗ · condo | 3/2 | 1,221 | Feb 2025 | $619,000 | $507 |
| P | 22452 Dolorosa St ↗ · Woodland Hills · renovated | 6/6 | 2,811 | Aug 2025 | $1,715,000 | $610 |
22452 Dolorosa is a fully renovated 6BR/6BA home (2,811 SF) on a 6,752 SF lot in Woodland Hills that closed 8/6/25 for $1,715,000 — $610/SF. Detached West Hills resale runs $530–$690/SF; new-construction product positions above existing stock.
All 10 homes sold in six months.
The only fully closed-out small-lot detached subdivision in the SFV in the last 12 months — same unit count and product type as 6540 Shoup. Contour at NoHo ↗, North Hollywood 91606, built 2023.
| # | Address | Bldg SF | Lot SF | Sold | $ / SF | Date |
|---|---|---|---|---|---|---|
| 1 | 6502 N Contour Ln (corner) | 2,154 | 2,036 | $1,096,000 | $509 | Apr 2025 |
| 2 | 6503 N Contour Ln (corner) | 2,154 | 2,036 | $1,089,000 | $506 | Apr 2025 |
| 3 | 6504 N Contour Ln | 2,114 | 1,286 | $940,000 | $445 | Jan 2025 |
| 4 | 6505 N Contour Ln | 2,114 | 1,286 | $934,000 | $442 | Mar 2025 |
| 5 | 6506 N Contour Ln | 2,114 | 1,286 | $930,000 | $440 | Jan 2025 |
| 6 | 6507 N Contour Ln | 2,114 | 1,286 | $959,000 | $454 | Apr 2025 |
| 7 | 6508 N Contour Ln | 2,114 | 1,286 | $930,000 | $440 | Feb 2025 |
| 8 | 6509 N Contour Ln | 2,114 | 1,286 | $939,000 | $444 | Jun 2025 |
| 9 | 6510 N Contour Ln (corner) | 2,114 | 2,036 | $999,000 | $473 | Jul 2025 |
| 10 | 6511 N Contour Ln (corner) | 2,114 | 2,035 | $1,000,000 | $473 | Apr 2025 |
| Average / blended (10 homes · $9.82M total) | 2,122 | 1,586 | $981,600 | $462 | 6-mo sellout |
Read-through: West Hills 91307 resale runs $530–$690/SF vs. North Hollywood 91606 at ~$430–$500/SF — a 25–35% submarket premium. Applied to Contour's $462/SF blended, and adjusting up for 6540 Shoup's smaller average home size (1,660 vs 2,122 SF), the $650/SF exit sits squarely inside the evidence band.
Where the $650/SF exit sits.
Market &
Pricing.
Minutes from The Village and Warner Center.
West Hills is a low-density, single-family enclave on the western edge of the San Fernando Valley — minutes from the Valley's premier lifestyle and employment hubs. The Village at Westfield Topanga — an open-air dining, shopping, and entertainment destination — and the adjacent Westfield Topanga mall sit a short drive southeast.
Anchoring that demand is Warner Center, the San Fernando Valley's principal commercial and jobs district — being reshaped under the Warner Center 2035 Specific Plan into a dense, walkable mixed-use center of new residential, office, and retail.
The marquee catalyst is Rams Village — the Los Angeles Rams' ~100-acre Warner Center campus now in buildout, pairing the team's headquarters and a performance venue with retail, a hotel, office, and thousands of new homes. A generational demand driver minutes from the subject.
Offered at $2,000,000.
The $2.0M ask prices the asset at exactly what a disciplined SFV merchant builder can underwrite to a $650/SF exit.
The ask captures the value of a fully entitled project delivered with an approved Tentative Tract Map and an explicit 10-home plan — eliminating the entitlement risk and carry a developer would otherwise bear.
How to transact.
$2,000,000 · $96 per land square foot. Complete JZA architectural set included.
Offers reviewed as received. Contact the listing team for the data room with the full entitlement package, architectural set, and Tentative Tract Map.
JZA architectural set (site plan, elevations, floor plans, area calcs), Tentative Tract Map and entitlement approvals, residual model, comp set, and title preliminary available on request.
Construction-lender introductions available on request. Delivered entitled with a Tentative Tract Map — the buyer skips an estimated 12–18 months of entitlement carry.