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$625,000
3 Beds 2 Baths ACTIVE Status
Opportunity awaits on a rare cul-de-sac in Lake Balboa! This fixer offers a chance to reimagine, renovate, or potentially start fresh and create something entirely your own. A detached garage offers potential for an ADU, while the spacious backyard, with an existing empty pool, provides plenty of room for a future outdoor retreat. Ideally located adjacent to the Van Nuys Golf Course and just minutes from Lake Balboa Park, the Encino Farmers Market, Sepulveda Basin Off-Leash Dog Park, and the many recreational amenities of the Sepulveda Basin. Convenient access to the 405 makes getting around the Valley and beyond a breeze. Bring your contractor, your imagination, and your vision, for this is a property with possibilities.

16431 Hamlin St, Lake Balboa

Courtesy of Sotheby's International Realty, Mary Hill - CA DRE#01783566

$1,599,999
37 Beds 37 Baths ACTIVE Status
Welcome to 6401 Whitman, a fully entitled 37 unit RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors, Builders ready to pull permits and start building right away. This SHOVEL READY 100% Affordable ED1 project in Lake Balboa featuring 37 units including a manager's office that can be converted into a unit, 19-1 bedroom, 18- studios across a Type V, four story, fully stacked designed which features all wood frame floors on a corner lot that is a currently a vacant land. This design has significant savings in construction costs and time maximizing the most units with significantly lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of San Fernando valley's vibrant and high demand areas, Lake Balboa is just minutes to Encino, Sherman Oaks, Van Nuys and the property located directly across the street to Woodley park which is considered a high resource area on the map. The property is also directly across the street to the Orange Line and the freeway, while major shopping stores like Super King and COSTCO are very close by as well. Due to its central location, the area is within top employment hubs and is easy access to Encino, it is a highly desirable and attractive area that has lots of brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area because of it just a walk across the street to the Metro/Orange Line, making this very walkable and bike friendly. The stackable design features 15,111 square feet of livable area and 16,780 square feet of buildable area with units ranging from 268- 338 sq ft Studios and 352 to 465 sq ft- One bedrooms. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 37 units would bring an estimated monthly gross income of $75,482 and yearly gross income of $905,784, or a buyer can look into achieving higher rents with Section 8 vouchers (buyer to verify). The most recent new Section 8 Voucher payment standards has this property and Zip code considered a TIER 7 with 1 bd priced at $2,370 and Studios at $2,110. Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area, LOCATION, LOCATION, LOCATION. Each unit is designed for maximum affordability and optimized rental income. This development presents a ultra rare and immediate opportunity for developers to bring much-needed affordable housing to one of San Fernando Valley's most sought-after areas. BUYER TO VERIFY ALL!

6401 Whitman Ave, Lake Balboa

Courtesy of Keller Williams Hollywood Hills, Daniel Lalezari - CA DRE#01949474

$1,599,999
ACTIVE Status
Welcome to 6401 Whitman, a fully entitled 37 unit RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors, Builders ready to pull permits and start building right away. This SHOVEL READY 100% Affordable ED1 project in Lake Balboa featuring 37 units including a manager's office that can be converted into a unit, 19-1 bedroom, 18- studios across a Type V, four story, fully stacked designed which features all wood frame floors on a corner lot that is a vacant land. This design has significant savings in construction costs and time maximizing the most units with significantly lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of San Fernando valley's vibrant and high demand areas, Lake Balboa is just minutes to Encino, Sherman Oaks, Van Nuys and the property located directly across the street to Woodley park which is considered a high resource area on the map. The property is also directly across the street to the Orange Line and the freeway, while major shopping stores like Super King and COSTCO are very close by as well. Due to its central location, the area is within top employment hubs and is easy access to Encino, it is a highly desirable and attractive area that has lots of brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area because of it just a walk across the street to the Metro/Orange Line, making this very walkable and bike friendly. The stackable design features 15,111 square feet of livable area and 16,780 square feet of buildable area with units ranging from 268- 338 sq ft Studios and 352 to 465 sq ft- One bedrooms. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 37 units would bring an estimated monthly gross income of $75,482 and yearly gross income of $905,784, or a buyer can look into achieving higher rents with Section 8 vouchers (buyer to verify). The most recent new Section 8 Voucher payment standards has this property and Zip code considered a TIER 7 with 1 bd priced at $2,370 and Studios at $2,110. Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area, LOCATION, LOCATION, LOCATION. Each unit is designed for maximum affordability and optimized rental income. This development presents a ultra rare and immediate opportunity for developers to bring much-needed affordable housing to one of San Fernando Valley's most sought-after areas. BUYER TO VERIFY ALL!

6401 Whitman Ave, Lake Balboa

Courtesy of Keller Williams Hollywood Hills, Daniel Lalezari - CA DRE#01949474

$1,695,000
4 Beds 3 Baths ACTIVE Status
Beautifully renovated home in the heart of Lake Balboa, located in one of the San Fernando Valley's most desirable neighborhoods. This turnkey property offers easy access to parks, shopping, dining, and the Van Nuys Airport. The home has been upgraded with Milgard sliding doors and windows, European interior doors, a custom kitchen imported from Turkey, Italian stone counters, and Italian tile finishes. Major systems are fully updated, including brand-new electrical, brand-new plumbing to the street, and a new ventilation system. Bathrooms feature smart toilets, European vanities, anti-fog mirrors, tinted windows, and recessed lighting throughout.Enjoy the heated pool with new plumbing and new lighting, an outdoor shower, water resistant hardwood flooring, new concrete surrounding the property, a widened driveway, new vinyl fencing, and a concrete perimeter wall. Electrical conduit and a concrete pad are already in place for a future automated gate.The fully renovated garage, featuring new insulation, drywall, and epoxy flooring, offers excellent potential for an ADU conversion. Landscaping has been thoughtfully designed and planted by the owners. The home is sold fully furnished, making it a truly move-in-ready opportunity.

16823 Valerio St, Lake Balboa

Courtesy of Beverly & Company Luxury Properties, Artur Israyelyan - CA DRE#02195045

$1,150,000
4 Beds 3 Baths ACTIVE UNDER CONTRACT Status
Welcome to this lovely home in the highly desirable Lake Balboa neighborhood. The main house features 3 bedrooms, 2 baths, a large living room with cathedral ceilings, wood burning fireplace, over-sized formal dining room, office/den plus an enclosed sunroom which is perfect as a playroom or additional workspace. The eat-in kitchen has newer stainless steel appliances, granite countertops, and a breakfast bar with a pass through to the dining room, tile flooring plus the laundry area. Sleeping quarters include a primary bedroom suite with bath and walk-in closet, two lovely guest rooms and a full bath. In 2023 the garage was converted into a one bedroom ADU complete with efficiency kitchen, large living room, bath with glass enclosed shower, and washer/dryer hookups. Great for extended family or additional income. Solar panels are owned, low electricity bill, security shades on all of the main house windows. Grassy backyard with a solid wood pergola to dine al fresco or relax, listen to music and read a book! Close to Lake Balboa, the dog park, local shopping and dining.

6443 Graves Ave, Lake Balboa

Courtesy of Sotheby's International Realty, Darcy Kaye - CA DRE#01322432

$1,799,000
10 Beds 12 Baths ACTIVE Status
Built in 1990, this gated four-unit townhouse-style apartment property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), offering investors significantly less restricted rental upside. With an excellent location in Lake Balboa, adjacent to Encino, the property also had central HVAC installed in 2019. The property features an attractive unit mix of two 2-bedroom, 2.5-bath units and two 3-bedroom, 2.5-bath units, averaging approximately 1,430 square feet each. Every unit offers a spacious open floor plan with a fireplace, large kitchen, private balcony, washer/dryer hookups, and an oversized attached two-car garage. Two units have also been updated with waterproof laminate flooring throughout the downstairs living areas and bathrooms. There is presently a single water bill, however, there are separate water meters installed for each unit.

6440 Balboa Blvd, Lake Balboa

Courtesy of Matthews Real Estate Investment Services, Daniel Withers - CA DRE#01325901

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