Leo Polosadjian Plans 20 Residences on Reseda Vacant Lot

A local developer wants to squeeze 20 homes and granny flats into a vacant lot in Reseda.

Leo Polosadjian filed plans to subdivide the two-thirds-acre rectangular property into five lots to build the homes at 19448 Saticoy Street, Urbanize Los Angeles reported, citing city planning records.

Plans call for each lot to contain a single-family home, an attached accessory dwelling unit, a detached ADU and a junior ADU, with four homes per lot and a total 20 residences in the San Fernando Valley neighborhood.

The proposal employs the provisions of Senate Bill 1123 and SB 684 to allow for streamlined approvals. The state has passed a raft of bills making entitlements easier for developers.

The property is owned by Mid Pacific Coast, a limited liability company based in Encino, led by Dr. Leo Polosajian, a cardiologist in Reseda, according to a property database and state business records. As of this month, his firm owns 10 properties in the Antelope Valley, the San Fernando Valley and Long Beach.

The project, designed by Joseph Kasbar, would include one- and two-story homes and flats, in white stucco. The gabled homes and ADUs would include slim eves, spare windows, narrow doors and few adornments, according to a rendering.

A similar project, with single family homes and granny flats, is proposed by a different developer at 18838 Lanark Street in Reseda, according to Urbanize.

Other projects underway in Reseda include Ariel Namvar’s residential project that would replace a vacant Walgreen’s store at 18340 Sherman Way with 300 apartments.

The median home sale price in Reseda was $775,000 in May, which is down about 5 percent from a year earlier, according to Redfin. That price range is significantly more affordable than Los Angeles at large, where the median home price is over $1 million.

— Dana Bartholomew