New Construction 5-Unit Apartment
For Sale
Contact for pricing
6700 Balboa Blvd, Van Nuys, CA 91406
Tri-level residences feature en-suite bedrooms, balconies, and private garage parking.
Property Size9,874 SF
Price / SF$353.96
Days on Market9
Property Features for 6700 Balboa Blvd
General Information
Standard status
Active
Size
9,874 SF
Class
A
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
LAR1.5
Occupancy
80%
Investment Type
Stabilized
Net Operating Income
$198,135
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Cap Rate
5.67%
Multifamily Units
5
Building Details
Year Built
2025
Buildings
2
Units
5
Tenancy
Multi
Listing Agency:
Myunits.com
(805) 973-7470
Listed By:
Lauren Cearley · License #02146823
Source:
Crexi
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 4 at 2:16PM
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 Myunits.com
Investment Insights
Based on property information with market context.
Completed in 2025, this 5-unit apartment property contains tri-level townhome-style residences ranging from 1,524 to 1,721 SF. Each residence includes 4 bedrooms with en-suite baths, open kitchens with oversized islands, stainless steel appliances, high ceilings, generous closets, and balconies. Private garage parking is accessed from a rear alley, while drought-tolerant landscaping and abundant natural light add to the property’s physical appeal. The 9,874-square-foot property is separately metered for all utilities and is identified with LAR1.5 zoning.
The property is fully leased and non-rent-controlled, with a reported 5.67% cap rate. It is located near the 80-acre Lake Balboa Park, a golf course, Ventura Blvd, Kaiser Permanente, and CSUN. Access to the 101 and 405 freeways connects the property with broader employment and service areas.
The property is fully leased and non-rent-controlled, with a reported 5.67% cap rate. It is located near the 80-acre Lake Balboa Park, a golf course, Ventura Blvd, Kaiser Permanente, and CSUN. Access to the 101 and 405 freeways connects the property with broader employment and service areas.
Key Highlights
- Five 2025‑built apartment residences, each configured across three levels
- Unit sizes range from 1,524 to 1,721 SF; each includes 4 bedrooms with en‑suite baths
- Fully leased, non‑rent‑controlled property with a reported 5.67% cap rate
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 | $314.0k | $31.80 |
| − Vacancy | −$25.1k | −$2.54 |
| EGI | $288.9k | $29.26 |
| − OpEx | −$130.0k | −$13.17 |
| NOI | $158.9k | $16.09 |
9,874 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.27M
$1.99M – $2.65M
NOI $158,881 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.29M
$4.63M – $6.17M
NOI $370,055 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 91406, CA
53,252
Population
19,650
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
77%
High-School Grad
8.1 sq mi
ZIP Area
6,574
Density / Sq Mi
$76,653
Median Household Income
$41,469
Median Earnings
$1,859
Median Rent
$765,000
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 - Tri-level residences feature en-suite bedrooms, balconies, and private garage parking.
Where is this apartment building located?
The property is located at 6700 Balboa Blvd Van Nuys, CA.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: Five 2025‑built apartment residences, each configured across three levels; Unit sizes range from 1,524 to 1,721 SF; each includes 4 bedrooms with en‑suite baths; Fully leased, non‑rent‑controlled property with a reported 5.67% cap rate
