5-Unit Apartment Building with
For Sale
$1,560,000
15149 Victory BLVD, Van Nuys, CA 91411
Two-bedroom, two-bath units with balconies in an LAR3 zone, with potential for additional condo development.
Days on Market11
Property Features for 15149 Victory BLVD
General Information
Standard status
Active
Property subtype
Apartment
Zoning
LAR3
Units
Unit Mix
5 x 2BR/2BA
Multifamily Units
5
Amenities
balcony
Building Details
Building Size
4,730 SF
Year Built
1978
Listing Agency:
First Banker Real Estate
(818) 906-7733
Listed By:
Albert Foulad · License #00856747
Source:
Frontgaterealestate
Added: Jul 22
Changed: Jul 30
Last Checked: Jul 31 at 11:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of First Banker Real Estate
Investment Insights
Based on property information with market context.
This apartment building offers five units, built in 1978, with a consistent layout: all units are two-bedroom, two-bath homes and each includes a balcony. The front unit has the look of a one-story single-family home, with a large patio/yard. That front unit also features central air/heating and high ceilings, and its roof is described as not flat.
The property sits on a large lot and is described as having potential to build 12+ condos. It is zoned LAR3. The sellers indicate they will do a 1031 exchange at no cost to the buyer, and the buyer is responsible for verifying and investigating all aspects of the property and any development potential.
This configuration can suit an owner-occupant, an investor seeking rental income from a small multifamily asset, or a builder evaluating the site for possible additional condo development under the existing zoning. Buyer should confirm feasibility and all requirements during due diligence.
The property sits on a large lot and is described as having potential to build 12+ condos. It is zoned LAR3. The sellers indicate they will do a 1031 exchange at no cost to the buyer, and the buyer is responsible for verifying and investigating all aspects of the property and any development potential.
This configuration can suit an owner-occupant, an investor seeking rental income from a small multifamily asset, or a builder evaluating the site for possible additional condo development under the existing zoning. Buyer should confirm feasibility and all requirements during due diligence.
Key Highlights
- 5 apartment units built in 1978
- All units are 2‑bedroom, 2‑bath with balconies
- Front unit features central air/heating, high ceilings, and a patio/yard
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $150.4k | $31.80 |
| − Vacancy | −$12.0k | −$2.54 |
| EGI | $138.4k | $29.26 |
| − OpEx | −$62.3k | −$13.17 |
| NOI | $76.1k | $16.09 |
4,730 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$951.4K – $1.27M
NOI $76,109 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.95M
NOI $177,270 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,772
Businesses Nearby
Explore this area
Business Placement
Demographics for 91411, CA
24,984
Population
10,003
Households
2.5
Avg Household Size
36
Median Age
37%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
12,492
Density / Sq Mi
$77,582
Median Household Income
$42,096
Median Earnings
$1,850
Median Rent
$973,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom, two-bath units with balconies in an LAR3 zone, with potential for additional condo development.
Where is this apartment building located?
The property is located at 15149 Victory BLVD Van Nuys, CA.
What is the asking price?
The asking price for this property is $1,560,000.
What are key features of this property?
This property features: 5 apartment units built in 1978; All units are 2‑bedroom, 2‑bath with balconies; Front unit features central air/heating, high ceilings, and a patio/yard
