The offering at a glance.
A 20,909 SF West Hills development parcel with a complete architectural set submitted under California's SB 1123 ministerial subdivision pathway — 10 detached three-story homes plus five attached ADUs, 15 residential units in total.
Executive
Summary.
A plans-in-process SB 1123 small-lot subdivision in West Hills — the highest-priced submarket on Shoup Avenue.
Complete JZA architectural set submitted under SB 1123, California's ministerial small-lot subdivision law. Within the ZI-2452 Transit Priority Area — no-discretion review, CEQA exempt.
West Hills 91307 — the premier Shoup Avenue submarket. Existing 3BR stock trades at $530–$690/SF; the direct neighbor at 6414 Shoup closed at $939,000 in Feb 2025.
$650/SF base-case exit drives an $11.8M gross sellout and a $2.0M residual land value after a $7.91M cost stack — a clean strike right at the $2.0M asking price.
Six reasons 6540 Shoup stands apart.
Fully Designed, Plans in Process
A complete JZA architectural set — site plan, elevations, floor plans, and area calculations — submitted under SB 1123 with a 4/17/2026 vesting application. Differentiates from raw, undesigned land.
Ministerial SB 1123 Pathway
Up to a 10-unit ministerial subdivision on single-family land within a Transit Priority Area. No-discretion review and CEQA exemption save an estimated 12–18 months of entitlement carry.
15 Units of Sellable Product
10 detached three-story homes (1,249–2,113 SF, avg 1,660 SF), each with attached two-car garage and rooftop deck; five parcels add 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.
The
Property.
A designed subdivision, ready to permit.
A ministerial pathway that compresses entitlement risk.
JZA Architecture (Culver City) — Jeff Zbikowski, AIA. PZA Review Set dated April 17, 2026; vesting application submitted same day.
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 exit plus a $200K ADU value where applicable.
| Parcel | Lot SF | SFR SF | ADU SF | Garage | Sellout |
|---|---|---|---|---|---|
| Parcel 1 (corner) | 2,210 | 1,617 | 370 | 2-car | $1,251,000 |
| Parcel 2 | 1,856 | 1,617 | 363 | 2-car | $1,251,000 |
| Parcel 3 | 1,856 | 1,612 | 363 | 2-car | $1,248,000 |
| Parcel 4 | 1,750 | 1,678 | 343 | 2-car | $1,291,000 |
| Parcel 5 | 1,750 | 1,678 | 343 | 2-car | $1,291,000 |
| Parcel 6 | 1,856 | 1,605 | — | 2-car | $1,043,000 |
| Parcel 7 | 1,856 | 1,605 | — | 2-car | $1,043,000 |
| Parcel 8 | 2,933 | 1,473 | — | 2-car | $957,000 |
| Parcel 9 | 1,936 | 1,473 | — | 2-car | $957,000 |
| Parcel 10 (rear) | 2,611 | 1,249 | — | 2-car | $812,000 |
| Gross sellout (per-parcel sum) | 20,614 | 15,607 | 1,782 | 10 garages | $11,144,000 |
Total development cost · $7.91M.
| Line Item | Basis | Amount |
|---|---|---|
| Hard construction — SFRs | 16,603 SF × $275/SF | $4,566,000 |
| Hard construction — ADUs | 1,782 SF × $275/SF | $490,000 |
| Hard construction — garages | 4,500 SF × $150/SF | $675,000 |
| Hard cost subtotal | $5,731,000 | |
| Site work, utilities, hardscape | $20/SF × 20,909 SF | $418,000 |
| Soft costs — CDs, permits, fees, A&E | flat | $500,000 |
| Financing — interest carry | ~10% of total cost | $785,000 |
| Contingency | 5% of hard + site | $307,000 |
| G&A, project management | 3% of hard | $172,000 |
| Total development cost (ex-land, ex-profit) | $7,913,000 |
$2.0M residual land value · $96/lot SF.
| Line Item | Basis | Amount |
|---|---|---|
| Gross sellout — 10 homes | 16,603 SF × $650/SF | $10,792,000 |
| ADU value uplift | 5 × $200,000 | $1,000,000 |
| Gross revenue | $11,792,000 | |
| Less: marketing & sales | 5.0% | ($590,000) |
| Net revenue | $11,202,000 | |
| Less: total development cost | ex-land | ($7,913,000) |
| Less: developer profit | SFV merchant-build margin | ($1,289,000) |
| Residual land value (base case) | $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 · premium tier | multi | — | Aug 2025 | $1,715,000 | — |
| Detached SFR band (excl. condo/TH/premium) | 1,430 | $868,000 | $530–$690 |
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. Coe Real Estate Group, 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 base case sits squarely inside the evidence band. Source: LightBox-verified closings.
Where the $650/SF exit sits.
Market &
Pricing.
The premier Shoup Avenue submarket.
West Hills sits at the far western edge of the San Fernando Valley — a low-density, single-family residential community that prices at a premium to the neighborhoods to its east along Shoup Avenue. Detached 3-bedroom stock trades into a $530–$690/SF band, with smaller, well-located product bidding toward the top of the range as of Q1 2026.
New construction is the scarcest product in the corridor. SB 1123 only became operative July 1, 2025, and individual-home closings from ministerial small-lot projects are not yet in the market — positioning 6540 Shoup as a first-mover, fully-designed offering against undesigned raw-land competition.
- · Detached 3BR band · $530–$690/SF
- · ~17 active new-construction listings in 91307
- · Raw SB 1123 land asking $48–$50/SF, not trading
- · Within ZI-2452 Transit Priority Area
Offered at $2,000,000.
The $2.0M ask is a clean strike at the base-case residual land value — pricing the asset at exactly what a disciplined SFV merchant builder can underwrite to a $650/SF exit.
The ask captures the value of an actively-processing PZA Review Set and an explicit 10-home unit count — both of which compress a developer's entitlement risk relative to raw land asking $48–$50/SF that is sitting bidless. Expect competitive interest within a 30–45 day marketing cycle from repeat SFV merchant builders and small-lot operators.
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 PZA plan set, area calculations, and SB 1123 application.
JZA architectural set (site plan, elevations, floor plans, area calcs), residual model, vesting application, comp set, and title preliminary available on request.
Construction-lender introductions available on request. SB 1123 ministerial pathway saves an estimated 12–18 months of soft-cost carry vs. discretionary entitlement.