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$ 1,625,000
Est. payment /mo
New
16021 Victory Boulevard Van Nuys (los Angeles), CA 91406
3,842 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,842 sqft
Price per Sqft $422
MLS Listing ID CL25583469
HOA Y/N No
Year Built 1954
Lot Size 5,914 Sqft
Acres 0.14
Property Sub-Type Other
Property Description
A Trophy Investment in Lake Balboa. This fully occupied six-unit property combines an original fourplex with two brand-new ADUs designed for today's renter, offering central air, in-unit laundry, and premium finishes. Priced at approximately $270K per unit, the asset is aligned with the best comps while delivering far greater upside. With a current GRM of ~15.2 and a clear path to ~10.2 at market rents, investors gain both immediate stability and significant future growth. The unit mix includes two 2BR/1BA and two 1BR/1BA residences in the original fourplex, along with a full 2BR/1BA ADU and a junior studio ADU. Ownership has implemented consistent rent growth and meaningful upgrades, while also leaving additional opportunity through the potential conversion of bonus rooms in the 2BR units into third bedrooms. Current operations reflect a cap rate just under 5%, with the ability to reach 7%+ as rents continue to align with market. Lake Balboa is trending upward fast, with consistent appreciation and increasing demand solidifying its place as one of Los Angeles's most promising submarkets. This property offers the rare balance of reliable cash flow and meaningful equity growth, set within a thriving neighborhood surrounded by Woodley Lakes Golf Course, the Sepulveda Basin, The Jap
Location
State CA
County Los Angeles
Zoning LARD
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Dryer
Laundry Dryer, Washer, Inside
Exterior
Utilities Available Other Water/Sewer
Building
Water Other
New Construction No
Others
Tax ID 2233023017
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Listed by Mackenzie Stone • The Beverly Hills Estates