16021 Victory Boulevard, Van Nuys, CA 91406 (MLS # 25583469)
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A Trophy Investment in Lake Balboa. This fully occupied six-unit property combines an original fourplex with two brand-new ADUs designed for today's renter, offering central air, in-unit laundry, and premium finishes. Priced at approximately $270K per unit, the asset is aligned with the best comps while delivering far greater upside. With a current GRM of ~15.2 and a clear path to ~10.2 at market rents, investors gain both immediate stability and significant future growth. The unit mix includes two 2BR/1BA and two 1BR/1BA residences in the original fourplex, along with a full 2BR/1BA ADU and a junior studio ADU. Ownership has implemented consistent rent growth and meaningful upgrades, while also leaving additional opportunity through the potential conversion of bonus rooms in the 2BR units into third bedrooms. Current operations reflect a cap rate just under 5%, with the ability to reach 7%+ as rents continue to align with market. Lake Balboa is trending upward fast, with consistent appreciation and increasing demand solidifying its place as one of Los Angeles's most promising submarkets. This property offers the rare balance of reliable cash flow and meaningful equity growth, set within a thriving neighborhood surrounded by Woodley Lakes Golf Course, the Sepulveda Basin, The Japanese Garden, and Balboa Lake, with effortless access to the 405 and 101.
| DAYS ON MARKET | 9 | LAST UPDATED | 9/2/2025 |
|---|---|---|---|
| YEAR BUILT | 1954 | COMMUNITY | LKBL - Lake Balboa |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Dryer, Microwave, Refrigerator, Washer |
| AREA | LKBL - Lake Balboa |
| LOT | 5915 sq ft |
| PARKING | None |
| POOL DESCRIPTION | None |
| STORIES | 2 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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