$1,799,990
16021 Victory Boulevard Van Nuys (los Angeles), CA 91406
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Listed by Greg Chermakyan • Park Regency Realty
$1,799,990
Est. payment /mo
4,889 SqFt
UPDATED:
10/13/2024 04:11 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,889 sqft
Price per Sqft $368
MLS Listing ID CRSR24212101
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1954
Lot Size 5,914 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
Interior
Cooling Central Air, Wall/Window Unit(s)
Fireplace No
Appliance Dryer
Laundry Dryer, Washer, In Kitchen
Exterior
Parking Type None
Building
Lot Description Other
Water Public
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