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16021 Victory Boulevard

Van Nuys, CA 91406
  • $1,695,000
  • STATUS: Active Under Contract
  • ON SITE: 41 Days
  • ID#: 22144025
Under Contract
UPDATED: 48 min ago
$1,695,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Listing Agent(s): Will Tiao of The Collective Realty (310-569-1335)


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 California Regional Multiple Listing Service, Inc. as of 2022-05-25T20:35:37.52. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127639647
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16021 Victory Boulevard Van Nuys, CA 91406

  • Price: $1,695,000
  • Status: Active Under Contract
  • On Site: 41 Days
  • Updated: 48 min ago
  • ID#: 22144025
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1954
Built
Neighborhood:
LKBL - Lake Balboa
County:
Los Angeles
Area:
LKBL - 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

Architectural Style Bungalow Construction Materials Stucco Direction Faces South Lot Features Front Yard Parking Features None Parking Total 0 Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

Interior Features

Appliances DishwasherMicrowaveRefrigeratorDryerWasher Cooling Wall/Window Unit(S) Cooling YN Yes Flooring Wood

Property Features

Additional Parcels YN No Association Fee 0 Community Features Gated Gross Income 99036 Insurance Expense 979 Laundry Features In Kitchen Levels Two Listing Agreement Seller Reserved Listing Service Full Service Maintenance Expense 3925 Net Operating Income 80362 New Construction YN No New Taxes Expense 8405 Rent Control YN Yes Security Features Gated Community Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 99036 Vacancy Allowance Rate 0 Water Sewer Expense 4602 Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T20:35:37.52. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Will Tiao of The Collective Realty (310-569-1335)