L
yon Stahl, based in El Segundo, manages sales, acquisitions, financing and development of multifamily and mixed‑use assets. First vice president David Saghian focuses on West Los Angeles and the San Fernando Valley, recently closing a $31.3 million deal for a 49‑unit mixed‑use property in Encino and has closed over $250 million since 2021.
**How do mixed‑use projects differ between West L.A. and the Valley?**
West L.A. prioritizes walkability and lifestyle; ground‑floor tenants are small, experience‑focused operators that complement upscale residences, maximizing density and pedestrian flow. The Valley’s larger parcels and community demand create a balanced mix of retail and housing, appealing to tenants seeking convenience and long‑term value.
**How do you tailor strategies to client goals?**
I assess financial structure, debt, and investment stage, then determine whether the client seeks appreciation, cash flow, or redevelopment. A 1031 buyer prefers stabilized assets with strong rent rolls and low management, while a developer targets infill sites with income in place and a path to a vacant end state.
**What does the Encino sale reveal about the market?**
It highlights the shift toward projects that blend walkability, visibility and diversified income. Properties like 16300 Ventura Blvd., with strong retail frontage and stable residential above, outperform by delivering lifestyle convenience and community connection. Flexible retail spaces allow future subdivision, enhancing stability. Grocery‑anchored projects show strong financial performance while anchoring vibrant neighborhoods.
**Future of mixed‑use?**
Los Angeles will favor connected, lifestyle‑driven communities. Over the next decade, projects will grow larger, emphasizing amenities, retail and walkability within the development. Integrated environments will shape the city’s housing and neighborhood growth.
**Ideal ratio?**
Typically 80‑85 % residential to 15‑20 % commercial, tailored to site demand. Ground‑floor retail should add daily convenience—coffee shops, fitness studios, neighborhood dining—creating synergy between residents and retailers for lasting stability.
