16021 Victory Boulevard

Van Nuys, CA 91406

$1,799,990
Price
8
Beds
6
Baths
4,889 Sq. Ft.
$368 / Sq. Ft.
4,889
Sq. Ft.
$368
per Sq. Ft.

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...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!
  1. Listed by Greg Chermakyan • DRE #01232572 • Brokerage DRE #01231306 • Park Regency Realty • 818-381-2143

Property Details for 16021 Victory Boulevard

Architectural Style
Traditional
Parking Spaces Total
0
Private Pool
No
Cooling Type
Central, Wall/Window Unit(s)
Total Units
6.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4889
LISTING UPDATED: 10/12/2024 06:33 AM

Property Details for 16021 Victory Boulevard

StatusActive
MLS #SR24212101
Days on Market78
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1954
Lot Size0.14 AC / 5,914 SF
CountyLos Angeles County

Building Information for 16021 Victory Boulevard

Stories2Residences-Year Built1954Building Size-Lot Size0.14 AC / 5,914 SF

Property Information for 16021 Victory Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Income: $103,260
  • Gross Scheduled Income: $133,200
  • Gross Operating Income: $103,260
  • Net Operating Income: $78,960
  • Gross Multiplier: 17.4
  • Cap Rate: 4.38
Expense Details
  • Operating Expense: $24,300
  • Insurance Expense: $2,600
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $4,600
  • Total Expenses: $24,300
Tax / Assessment Info
  • Tax Tract Number: 12712
  • Tax Census Tract: 1276.05
  • Tax Lot: 17
Community / Development
Community / Development
  • Community Features: Park, Sidewalks, Street Lights, Urban
Property / Structure Info
Interior Features
  • Room Type: Living Room
  • Laundry: Yes
  • Laundry Features: Dryer Included, In Kitchen, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air, Wall/Window Unit(s)
Exterior Features
  • Security Features: Gated Community
  • Entry Location: Street
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Park Nearby
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Natural Gas Connected, Sewer Available, Water Connected
  • Electric: Natural Gas Connected, Sewer Available, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: None
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: None
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,315
  • Unit Type Total Rent: $1,315
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,004
  • Unit Type Total Rent: $1,004
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,248
  • Unit Type Total Rent: $1,248
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $870
  • Unit Type Total Rent: $870
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,500
  • Unit Type Total Rent: $2,500
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,668
  • Unit Type Total Rent: $1,668
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 6
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 2

Property History for 16021 Victory Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 16021 Victory Boulevard

Taxable ValueLand$663,000Additions$980,080Total$1,643,080
Tax Record2024$20,260 ($1,688 / month)
Home Facts
Total Finished SqFt4,889 SqFtAbove Grade Finished SqFt4,889 SqFtLot Size5,912 SqFtStyleMulti-Family Res (5+ Units)Year Built1954ZoningLARD1.5CountyLOS ANGELESAPN2233-023-017

Schools near 16021 Victory Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Charter - 9 to 12
Public - 9 to 12
Rating
School
Distance
Bassett Street Elementary School
PublicK to 5

William Mulholland Middle School
Public6 to 8

Birmingham Community Charter High School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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16021 Victory Boulevard is a mixed use property for sale in Van Nuys, CA 91406. This property was listed for sale on October 12, 2024 by Park Regency Realty, it's currently listed at $1,799,990. It has been on the market for a total of 78 days and was last sold on September 23, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Bassett Street Elementary School, William Mulholland Middle School and Birmingham Community Charter High School. 16021 Victory Boulevard is a 8-bed, 6-bath, 4,889 sqft mixed use property built in 1954.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Park Regency Realty, Greg Chermakyan, DRE #01232572

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.