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6440 Balboa Blvd
Van Nuys, CA 91406 Lake Balboa

$1,799,000 USD

Apartments For Sale  •  5,721 SF

Property Details

• Property Type Apartments
• Total Building Size 5,721 SF
• Lot Size 0.14 AC
• Building Class C
• Year Built 1990
• Cap Rate 4.32 %
• Zoning RD1.5

50 Transit Score

60 Walk Score

Highlights

Large Townhome Unit Mix: The property features 4 large units averaging ±1,430 SF, comprised of 2x 2BR/2.5BA and 2x 3BR/2.5BA layouts.

Garage-Driven Tenant Appeal: All 4 units include 2-car garages, a practical amenity that supports leasing for the property’s larger floor plans.

In-Place Cash Flow: The asset is underwritten at $77,714 NOI, providing immediate income with a clear path to stabilized performance.

Unit Amenities: Each unit has washer dryer hookups and private balconies.

The property is not subject to the City of Los Angeles RSO, allowing investors to capture full market rate increases.

Stabilized NOI Growth: Under the optimistic underwriting, NOI increases from $77,714 currently to $110,708 at market rents.

Cap Rate:

4.32 %

Public Transportation

Commuter Rail	Drive	Walk	Distance
Van Nuys (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak)	9 min	-	4.8 mi
Van Nuys Metrolink Station (Metrolink Ventura County Line - Metrolink Trains)	9 min	-	5.2 mi
Airport	Drive	Walk	Distance
Bob Hope	16 min	-	9.3 mi
Los Angeles International	29 min	-	21.2 mi