16021 Victory BLVD Active Save Request In-Person Tour Request Virtual Tour
Van Nuys,CA 91406
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24212101
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
Interior
Cooling Central Air,Wall/Window Unit(s)
Fireplaces Type None
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
Building
Lot Description Near Park
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange
Special Listing Condition Standard