Lake Balboa (LKBL) Homes with Multi Level Stories

Welcome to Lake Balboa, a picturesque neighborhood nestled in the heart of the San Fernando Valley, California. Known for its serene lakes, lush parks, and vibrant community, Lake Balboa offers a tranquil escape from the hustle and bustle of Los Angeles while still providing easy access to all the city has to offer. With its family-friendly atmosphere, this charming region is perfect for those seeking a balanced lifestyle.

Lake Balboa boasts an array of beautiful homes, including stunning multi-level properties that cater to diverse tastes and lifestyles. These homes are designed to maximize space and functionality while providing a unique aesthetic appeal. With multiple stories, residents can enjoy expansive living areas, private retreats, and breathtaking views of the surrounding landscape. The versatility of multi-level homes allows for creative interior design, making them ideal for families, entertainers, or those simply seeking a little extra room to breathe.

The neighborhood is also home to several parks, including the popular Lake Balboa Park, which features walking trails, picnic areas, and a lovely lake perfect for leisurely afternoons. Whether you’re enjoying a weekend stroll or hosting a family gathering, the natural beauty of the area enhances every experience.

Living in Lake Balboa means becoming part of a close-knit community with access to excellent schools, shopping, and dining options. With its blend of suburban charm and urban convenience, Lake Balboa is the perfect place to find your dream multi-level home and create lasting memories. Come explore the possibilities in this delightful corner of Los Angeles!

Newest Lake Balboa (LKBL) Homes with Multi Level Stories

$1,799,000

10 Beds ⋅ 12 Baths ⋅ 26865459 MLS ⋅ Active Status

Built in 1990, this gated four-unit multifamily property features an attractive townhouse-style unit mix consisting of two 2-bedroom, 2.5-bath units and two 3-bedroom, 2.5-bath units, averaging approximately 1,430 square feet each. Every unit offers a spacious open floor plan with a fireplace, large kitchen, private balcony, washer/dryer hookups, and a large attached two-car garage. Two units have also been updated with waterproof laminate flooring throughout the downstairs living areas and bathrooms. From an investor's perspective, the property offers strong in-place cash flow with significant upside potential. The asset is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), allowing ownership to capture full market rent increases. Current operations generate approximately $74,779 in annual NOI, with projected stabilized NOI of approximately $106,927 at market rents. With its desirable large-unit mix, family-oriented amenities, and limited near-term capital expenditure requirements, this property presents an excellent investment opportunity.

6440 Balboa Boulevard, Lake Balboa

$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

$799,000

3 Beds ⋅ 3 Baths ⋅ 26852391 MLS ⋅ Active Status

Located in a desirable gated community of just 10 homes in Lake Balboa, this well-maintained residence built in 2016 offers 3 bedrooms, 2.5 bathrooms, and 1,502 sq ft of thoughtfully designed living space. The home features a bright, open layout with a modern kitchen equipped with stainless steel appliances, ample cabinetry, and generous counter space ideal for both everyday living and entertaining. The living and dining areas are seamlessly connected to the kitchen, creating a functional and inviting main living space. The spacious bedrooms are designed for comfort and privacy, with the primary suite offering a luxurious ensuite bathroom and ample closet space. Additional highlights include a direct-access two-car garage with secure parking and extra storage. Ideally situated near parks, schools, shopping, dining, and major freeways, this home offers easy living in a prime Lake Balboa location.

16855 Balboa Lane, Van Nuys

$2,550,000

10 Beds ⋅ 10 Baths ⋅ 26845473 MLS ⋅ Active Status

Due to its construction in 1987, the property is not subject to Los Angeles rent control and instead allows for higher annual rent increases via AB 1482. Given its attractive 6.46% CAP Rate, the asset offers an investor both strong immediate cash flow as well as the opportunity to increase future income more rapidly without the restrictions of Los Angeles rent control. With spacious one-bedroom floorplans averaging approximately 875 square feet each, the property can more easily attract higher-paying tenants. Its array of desirable amenities, including central air/heat, private balconies, and on-grade garage parking, allow the building to achieve more premium rents than competing apartments in the local area. Several of the units have already been thoroughly upgraded, saving an owner from future renovation costs while providing a clear blueprint for remodeling the remaining apartments. Interior upgrades in renovated units include wood flooring, stone countertops, stainless steel appliances, recessed lighting, and new ceiling fans. The building does not appear on the Los Angeles Department of Building & Safety's seismic retrofit list, saving an investor from an otherwise costly maintenance expense. Located near the intersection of Sherman Way and Haskell Avenue, the property offers residents incredibly easy access to the 405 Freeway, connecting tenants to various job centers and retail destinations throughout the San Fernando Valley and Greater Los Angeles Metro area.

7437 Haskell Avenue, Van Nuys

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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.