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James Patton

james@thebeardedagent.com +1(714) 342-6490

$ 1,799,990

Est. payment -/mo

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16021 Victory BLVD Van Nuys, CA 91406

4,889 SqFt

UPDATED:

10/12/2024 08:34 PM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 4,889 sqft

Price per Sqft $368

MLS Listing ID SR24212101

HOA Y/N No

Year Built 1954

Lot Size 5,915 Sqft

Property Description

Great opportunity to own 6 units with potential residential investment adjacent to Lake Balboa in Van Nuys west of the 405. This property has four units (two 2BR/1BA and two 1BR/1BA units) plus a 2BR/1BA ADU and Studio Junior ADU. ADU's are completed in 2021 and include central air, washer/dryer, and stainless appliances. Original fourplex has potential for 40 to 50% increase in income at market rates. 2BRs in the fourplex have an extra bonus room, which could be converted to a 3rd bedroom for additional income. In a prime location, this property is close to the Woodley Lakes Golf Course, Van Nuys Golf Course, Sepulveda Basin, The Japanese Garden, and Balboa Lake. Easy access to the 405 and 101 freeway. Current GRM is 17.4 with a cap of 4.38% with an unheard of full market GRM of 13.5 and 6% cap. Because the property is a four-plex plus ADU and Junior, buyers should check with lenders and potentially be able to get 1-4 unit residential financing. This is a unique opportunity to own 6 units at residential financing rate and terms, with long term potential at market rates. Priced at $299K/unit, this will sell quickly, so bring your offers!

Location

State CA

County Los Angeles

Area Vn - Van Nuys

Zoning LARD1.5

Rooms

Ensuite Laundry In Kitchen

Interior

Laundry Location In Kitchen

Cooling Central Air, Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Dryer, Washer

Laundry In Kitchen

Exterior

Garage None

Pool None

Community Features Street Lights, Sidewalks, Urban, Gated, Park

Utilities Available Natural Gas Connected, Sewer Available, Water Connected

Parking Type None

Private Pool No

Building

Lot Description Near Park

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2233023017

Security Features Gated Community

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

Listed by Greg Chermakyan • Park Regency Realty • 818-381-2143

James Patton

Agent | License ID: 01816048

+1(714) 342-6490

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James Patton

James Patton

16021 Victory BLVD Van Nuys, CA 91406

Key Details

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Rooms

Interior

Exterior

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Others

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16021 Victory BLVD