Lyon Stahl, a real estate brokerage based in El Segundo, operates across sales, acquisitions, financing and development for multifamily property types including mixed-use. David Saghian, first vice president of the firm, focuses on investments in West Los Angeles and the San Fernando Valley and recently facilitated the $31.3 million sale of a 49-unit mixed-use property in Encino. Since 2021, Saghian closed more than $250 million in transactions.
How do mixed-use projects work in West L.A. versus the San Fernando Valley?
In West Los Angeles, mixed-use projects are driven by lifestyle and walkability. Residents want proximity to cafes, fitness studios and boutique retail, so ground floor spaces often feature smaller, experience-driven operators that complement a high-quality residential base. Strategy here focuses on maximizing density, design and pedestrian engagement.
In the San Fernando Valley, mixed-use has become a resilient and well-balanced asset class. Larger parcels and strong community demand support a broader mix of retail and residential uses, appealing to tenants seeking convenience and long-term value.
Depending on your client’s investment goals, how do you tailor your strategies?
I act less like a salesperson and more like an adviser, understanding each client’s financial structure, debt position and where they are in their investment cycle. My first step is identifying whether their focus is long term appreciation, cash flow or redevelopment potential. For example, a 1031 exchange buyer might prioritize stabilized assets with strong rent rolls and minimal management, while a developer client looks for well-located infill sites with income in place but a path to deliver the property vacant by the end of entitlements.
You recently facilitated a large mixed-use sale in Encino. How does that deal speak to the local mixed-use market?
That sale spoke volumes about where the Southern California mixed-use market is headed. Investors are increasingly drawn to projects that combine walkability, visibility and diversified income streams. Properties like 16300 Ventura Blvd. with strong retail frontage and stable residential above continue to outperform because they create lifestyle convenience and community connection…
Well-designed retail frontage offers flexibility for the future, allowing larger spaces to be divided into smaller operators to enhance stability and activity. Grocery-anchored mixed-use projects… show how these developments perform well financially while strengthening neighborhoods and anchoring vibrant, self-sustaining communities.
Where do you see the future of the mixed-use sector?
The future of mixed-use in Los Angeles is about more than density; it is about creating connected, lifestyle driven communities. Over the next five to 10 years, I see projects becoming larger in scale with greater emphasis on amenities, retail and walkability within the development itself…
As people continue to value convenience and community, these integrated environments will define the next generation of urban living and remain central to how Los Angeles meets its housing and neighborhood growth goals.
What is the ideal ratio for a mixed-use project?
The ratio for mixed-use projects generally leans around 80% to 85% residential and 15% to 20% commercial, depending on the site and surrounding demand. The focus should be on activating the ground floor with retail that adds daily convenience and energy to the property. Coffee shops, fitness studios and neighborhood dining tend to perform best…
The strongest projects create natural synergy between residents and retailers, building lasting stability.
