We are pleased to present for sale this 16-unit value-add multifamily investment opportunity located at 15865 Vanowen Street in the desirable Lake Balboa neighborhood of Van Nuys, with potential for detached ADU development. Constructed in 1976, the property encompasses approximately 9,460 square feet of building area on a large 13,494… Read More square foot lot. Zoned R3-1, the unit mix consists of fifteen (15) one-bedroom/one-bath units and one (1) studio unit. The asset presents investors with a compelling low-basis acquisition andsignificant upside potential in a high-demand rental corridor. The property benefits from its proximity to several of the San Fernando Valley's most established neighborhoods, including Van Nuys, Lake Balboa, Sherman Oaks, North Hollywood Arts District, and Encino. Residents enjoy convenient access to major employment centers, retail, dining, and public transportation. The location carries a Walk Score of 66 (Somewhat Walkable), allowing select daily errands to be completed on foot. Investors have the opportunity to capture immediate upside through a vacant unit and to explore the potential development of up to eight (8) detached ADUs pursuant to SB 1211 (buyer to verify all feasibility, zoning, and entitlement requirements) Disclosure: Buyers are to conduct thorough and independent due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking availability, unit mix, year built, zoning, market rents, and the feasibility of ADUs or additional units. DO NOT DISTURB TENANTS OR ENTER THE PROPERTY - DRIVE-BY ONLY. Read Less
Courtesy of Remax Commercial and Investment Realty 213-817-1000
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