Lake Balboa Homes with Multi Level Stories

Lake Balboa Homes with Multi Level Stories

Welcome to Lake Balboa, a hidden gem nestled in the heart of the San Fernando Valley in Los Angeles County, California. This vibrant neighborhood is renowned for its picturesque parks, serene lakes, and a strong sense of community. With its lush greenery and friendly atmosphere, Lake Balboa offers residents a perfect blend of suburban tranquility and urban convenience. Enjoy leisurely strolls around the expansive Lake Balboa Park, which features walking trails, picnic areas, and playgrounds, making it an ideal spot for families and outdoor enthusiasts alike.

One of the most appealing aspects of Lake Balboa is its diverse array of homes, particularly those with multi-level stories. These beautifully designed residences not only provide ample living space but also offer breathtaking views of the surrounding landscape. Multi-level homes in Lake Balboa often feature open floor plans, modern amenities, and spacious backyards, perfect for entertaining or relaxing after a long day. The architectural variety in this neighborhood means that you can find a home that suits your personal style, whether you prefer a contemporary aesthetic or a more traditional charm.

Living in Lake Balboa means enjoying the best of both worlds: a peaceful suburban lifestyle with easy access to the bustling energy of Los Angeles. With excellent schools, shopping centers, and dining options just a stone's throw away, this community truly has it all. Discover the beauty and charm of Lake Balboa, where your dream home with multi-level stories awaits!

Newest Lake Balboa Homes with Multi Level Stories

$1,599,999
37 Beds ⋅ 37 Baths ⋅ 26864773 MLS ⋅ Active Status
Welcome to 6401 Whitman, a fully entitled 37 unit RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors, Builders ready to pull permits and start building. This SHOVEL READY 100% Affordable ED1 project in Lake Balboa featuring 37 units including a manager's office that can be converted into a unit, 19-1 bedroom, 18- studios across a Type V, four story, fully stacked designed which features all wood frame floors on a corner lot. This design has significant savings in construction costs and time maximizing the most units with significantly lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of San Fernando valley's vibrant and high demand areas, Lake Balboa is just minutes to Encino, Sherman Oaks, Van Nuys and the property located directly across the street to Woodley park which is considered a high resource area on the map. The property is also directly across the street to the Orange Line and the freeway, while major shopping stores like Super King and COSTCO are very close by as well. Due to its central location, the area is within top employment hubs and is easy access to Encino, it is a highly desirable and attractive area that has lots of brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area because of it just a walk across the street to the Metro/Orange Line, making this very walkable and bike friendly. The stackable design features 15,111 square feet of livable area and 16,780 square feet of buildable area with units ranging from 268- 338 sq ft Studios and 352 to 465 sq ft- One bedrooms. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 37 units would bring a monthly gross income of $75,482 and yearly gross income of $905,784, or a buyer can look into achieving higher rents with Section 8 vouchers (buyer to verify). Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area, LOCATION, LOCATION, LOCATION. Each unit is designed for maximum affordability and optimized rental income. This development presents a ultra rare and immediate opportunity for developers to bring much-needed affordable housing to one of San Fernando Valley's most sought-after areas. BUYER TO VERIFY ALL!

6401 Whitman Avenue, Lake Balboa
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.