16021 Victory Boulevard
Van Nuys, CA 91406
0.14 acres | #SR24212101
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!
Property Details
- Utility FeaturesNaturalGasConnected, SewerAvailable, WaterConnected
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,799,990
- MLS #SR24212101
- MLS #SR24212101
- Lot DescriptionNearPark
- Property SubtypeMixedUse
- Cost1799990
- Acres0.1358
- Utility SourcePublic
- Year Built1954
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Greg Chermakyan (#F210005457)
Listing Office: Park Regency Realty (#F0067001)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
