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16021 Victory Blvd

Van Nuys, CA 91406
  • $1,695,000
  • STATUS: Active Under Contract
  • ON SITE: 46 Days
  • MLS #: 22-144025
Under Contract
UPDATED: 24 min ago
$1,695,000
  • 9
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,812
    SQFT
  • $352
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1954
County:
Area:

School Ratings & Info

Description

PRICE ADJUSTMENT TO $1,695,000! Unique opportunity to own 6 units with potential residential financing in Lake Balboa in Van Nuys west of the 405. This property has four units (two 2BR/1BA and two 1BR/1BA units) plus a newly completed 2BR/1BA ADU and Studio Junior ADU. ADU's are all new construction and include central air, washer/dryer, and stainless appliances. Original fourplex has potential for 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 16.81 with a cap of 4.74% with an unheard of full market GRM of 10.99 and 7.2% cap. Because the property is still listed as a four-plex, 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 $282,500/unit, this will sell quickly, so bring your offers!

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-29T06:43:13.563. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/127639253
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16021 Victory Blvd Van Nuys, CA 91406

  • Price: $1,695,000
  • Status: Active Under Contract
  • On Site: 46 Days
  • Updated: 24 min ago
  • MLS #: 22-144025
9
Beds
0
Baths
0
½ Baths
0.14
Acres
4,812
SQFT
$352
$/SQFT
1954
Built
Neighborhood:
Lake Balboa
County:
Los Angeles
Area:
Lake Balboa
Property Description
PRICE ADJUSTMENT TO $1,695,000! Unique opportunity to own 6 units with potential residential financing in Lake Balboa in Van Nuys west of the 405. This property has four units (two 2BR/1BA and two 1BR/1BA units) plus a newly completed 2BR/1BA ADU and Studio Junior ADU. ADU's are all new construction and include central air, washer/dryer, and stainless appliances. Original fourplex has potential for 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 16.81 with a cap of 4.74% with an unheard of full market GRM of 10.99 and 7.2% cap. Because the property is still listed as a four-plex, 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 $282,500/unit, this will sell quickly, so bring your offers!
Exterior Features

Cross Streets Woodley And Haskell Direction Faces South Exterior Construction Stucco Levels Two Lot Description Front Yard Lot Location City Lot Size Area 5912 Other Structures Accessory Dwelling Unit Parking Garage None Paved YN Yes Pool Description None Pool YN No Spa None Spa YN No Style Bungalow Tennis Court None Tennis YN No Total Parking 0 View Description City View YN Yes Water Frontage None

Interior Features

Baths Total 6.00 Common Walls Attached Cooking Appliances Free Standing Gas Cooling Wall/WindowOther Den No Dining Room No Equipment MicrowaveRefrigeratorRange/OvenWasherDryerDishwasher Family Room No Flooring Engineered HardwoodHardwood Heating Wall Gas Laundry In Kitchen Laundry Equipment Own Rooms Living Room Water Heater Features Central Water Heater

Property Features

Alley YN Yes Amenities None Assessed Total Value 919427 Gardener Expense 1730.00 Gross Income 99036 Gross Operating Income 101836 Insurance Expense 979.00 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Maintenance Expense 3925.00 Net Operating Income 80362.00 Number Of Buildings 2 Number Of Units 6 Owner Pays Gardener Rent Control YN Yes Sale Type Standard Security Features Gated Sewer In Connected And Paid Source Living Area Owner Source Lot Size Area Assessor Tenant Pays ElectricityGas Total Annual Expense 20474 Type Of Units Multifamily Water Public Water Expense 4602.00 Water Heaters YN Yes Year Built Source Assessor Zoning Lard1.5

Listing provided courtesy of Will Tiao DRE#01918965 of The Collective Realty.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-29T06:43:13.563. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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