|Image courtesy Google Maps|
Urbanize.LA reported on November 5, 2015 that a new mixed use residential project is coming to the former Farmers Ranch Market at 7111 Sepulveda Blvd near the intersection of Sherman Way. The project proposes a six story building with 180 apartments and approximately 4,750 sqft of ground floor retail. There will be two levels of underground parking for up to 327 vehicles and 204 bicycles.
The property was purchased by Fayz Holdings LLC on April 20, 2015 for $4,940,000 from the George and Eva Attar Trust of Whittier. The Attar trust purchased the property on February 16, 1994 for $940K which was one month after the infamous Northridge earthquake. The Attar's also own apartment complex in Sherman Oaks, 2 apartments in Glendale, and a Ranch Market in Montebello similar to the one mentioned in this post.
The property measures 11,782 sqft on a total lot size of 53,197 sqft built in 1977.
The only silver lining here is that at least there are no more "prostitute" motels being built on Sepulveda.
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