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The Real Deal Los Angeles

New 73-key hotel planned to replace aging motel in Van Nuys

Investor interest has picked up in that part of San Fernando Valley
By Dennis Lynch | February 15, 2018 01:00PM

The El Cortez Motel at 5746 Sepulveda Boulevard

A Developer has filed plans for a 73-key hotel in Van Nuys that would replace the aging motel complex that now stands there.

The new, four-story hotel at 5746 Sepulveda Boulevard would have twice as many room as the existing one, which he also owns.

Raju Patel’s El Cortez Motel Inc. applied to demolish the El Cortez Motel, and allow for an unnamed 56-foot-tall hotel. It would also have a two-story, 60-vehicle parking garage.

The existing 32-room motel is more than six decades old and photos suggest it’s changed little in that time. Patel purchased the property in 1997 for $800,000. The area is largely characterized by similarly aged properties.

While Van Nuys is not as popular as other parts of the San Fernando Valley, there has been recent interest from investors. That includes Lion Real Estate Group, which purchased a three-property apartment portfolio there in October for $42 million, with plans to remodel.