Executive Summary

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• The Neema Group of Marcus & Millichap is pleased to present 16751 Victory Blvd in the Lake Balboa neighborhood of Van Nuys, located on the main thoroughfare between Balboa Blvd and Hayvenhurst Ave, a central Valley location with easy access to both the 405 & 101 Freeways
• With soaring single-family residence prices in the immediate area, this is an ideal owner-user or investment opportunity totaling four units with strong in-place cash flow; the front of the building with Victory Blvd frontage is a three-bedroom two-bathroom unit with two two-bedrooms and one three-bedroom unit at the rear of the property
• Ample parking for the units with four tandem, gated spaces (8 parking spaces total); the soft-story retrofit work has been completed by the ownership
• The units are spacious (two-bedrooms approximately 950 SF and three-bedrooms approximately 1,100 SF) with in-unit laundry; additional 11% rental upside with further interior renovations
• The building is low maintenance for a user or investor as gas, electricity, and water are all separately metered
• The subject property has been well-maintained throughout the years with minimal deferred maintenance required
• 16751 Victory Blvd is directly across the street from the Balboa Orange Line Station, convenient for residents to utilize a commute from North Hollywood to Chatsworth and everywhere in between
• Located across the street from the Woodley Lakes Golf Course as well as the Sepulveda Basin Sports Complex; additionally, one block from both Birmingham Community High School and Mullholland Middle School

Area Overview

Van Nuys is a neighborhood in the central San Fernando Valley region of Los Angeles, California. Home to Van Nuys Airport and the Valley Municipal Building, it is the most populous neighborhood in the San Fernando Valley.

Van Nuys is bordered on the north by North Hills, on the northeast by Panorama City, on the east by Valley Glen, on the south by Sherman Oaks, on the southwest by the Sepulveda Basin, on the west by Lake Balboa, and on the northwest by Northridge. Its street and other boundaries are Roscoe Boulevard on the north, Sepulveda Boulevard, the Tujunga Wash, Woodman Avenue and Hazeltine Avenue on the east, Oxnard Street on the south, the Sepulveda Basin on the southwest and Odessa and Hayvenhurst avenues and Balboa Boulevard on the west.

Van Nuys Boulevard has a long and diverse commercial district along it, as do other major streets crossing through Van Nuys. There are two Target stores in Van Nuys, one on Sepulveda and Hatteras and another on Raymer and Kester. Van Nuys has two Asian supermarkets, one on Sherman Way and White Oak, and one on Sepulveda and Victory.

In 1999, The Plant shopping center opened on the former factory site, anchored by a Home Depot, OfficeMax & 16-screen Mann movie theater multiplex. Through the following years there were additions to The Plant shopping center the following additions were: In-N-Out Burgers,7- Eleven, Gap Outlet, Ono Hawaiian BBQ, Starbucks, Party City, and Old Navy.

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