15931 Victory Blvd, Van Nuys, CA 91406

Property Description

Introducing an exceptional investment opportunity located at 15931-35 Victory Blvd, Van Nuys.Built in 1952, the property consists of five (5) units, four (4) one-bedroom + one-bathroom units and one (1) two-bedroom + one-bathroom unit. The buildings are 3,412 gross square feet and sit on a 17,713 square foot lot.The subject property is located in The Lake Balboa area of the San Fernando Valley offering a prime location that attracts residents and visitors alike. Convenient Transportation Access served by several bus routes and is in proximity to the Balboa Station on the Metro Orange Line, located near major freeways, including the 101 and 405, providing easy access to other parts of Los Angeles and neighboring communities.The property represents a unique value-add opportunity for investors due to the property's location, unit mix and rental upside. The property offers an initial CAP rate of 2% with the ability to improve to a 5% CAP rate once units turnover.This property presents a multitude of potential avenues for revenue generation and development. ADU (Accessory Dwelling Unit) potential, and development possibilities, make it an attractive prospect for savvy investors and developers.Rental Upside:With a rental upside of over 40%, the property presents an exceptional opportunity to maximize returns through the rehabilitation of existing units and subsequent rent increases. Take advantage of the flourishing rental market and optimize returns on this investment through strategic leasing and property management.ADU Potential:In addition to the existing structures on the property, there is potential for the construction of ADUs. ADUs have gained popularity as a means of maximizing property value and generating additional rental income.Development Potential:Beyond the immediate rental and ADU opportunities, this property also holds tremendous development potential. The large lot size and zoning regulations allow for the possibility of constructing a 17+ ADUs unit redevelopment project. Capitalize on the burgeoning real estate market in Van Nuys and explore the potential for creating a modern multi-unit complex or mixed-use development, catering to the needs of the community and maximizing returns.In summary, 15931 Victory Blvd offers an enticing marketing opportunity with its rental upside, ADU potential, and development possibilities. This property presents investors and developers with a chance to capitalize on the thriving Van Nuys real estate market and unlock its full potential. Don't miss out on this unique chance to secure a sound investment with endless possibilities. Disclaimer: Any potential development plans or modifications are subject to applicable regulations, permits, and approvals from the relevant authorities. It is advised to conduct proper due diligence and consult with appropriate professionals before making any investment or development decisions.Investment HighlightsMultifamily Property Built in 1952, the property consists of four (4) one-bedroom + one-bathroom units and one (1) two-bedroom + one-bathroom unit. The buildings are 3,412 gross square feet and sits on a 17,713 square foot lot. Rental upside potential of 40%, there is room to increase rental income by optimizing the current rental rates. This can be achieved through strategic leasing, property improvements, and market-aligned rental adjustments.ADU Potential: The property offers the opportunity to explore the construction of Accessory Dwelling Units (ADUs). Adding ADUs can significantly enhance the property's income potential.Development Potential: In addition to the existing 5 units, the property presents development potential. By leveraging the property's zoning and local regulations, it may be possible to expand or redevelop the property to accommodate more units or explore mixed-use development options.Potential Capitalization Rate (CAP): 6%+ with market rents of the existing five units more adding ADUs