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14717 Victory Boulevard, Van Nuys, California 91411, Van Nuys, 91411 - 3 bed, 2 bath

14717 Victory Boulevard, Van Nuys, California 91411 home-pic-0
ACTIVE$1,190,000
14717 Victory Boulevard, Van Nuys, California 91411
3Beds
2Baths
1,166Sqft
6,502Lot

Price Vs. Estimate

The estimated value ($865,406.06) is $324,593.94 (27%) lower than the list price ($1,190,000). This property may be overpriced.

Key pros and cons

Top Pros:
Development Opportunity: Prime development opportunity with approved plans in progress to build a 24-unit apartment building.
Top Cons:
As-Is Condition: The property is being sold as-is, which may require initial investment for site preparation or existing structure demolition.

Compared to the nearby listings

Price:$1.19M vs avg $1.14M (+$52,250)58%
Size:1,166 sqft vs avg 1,432.5 sqft22%
Price/sqft:$1.0K vs avg $74589%

More Insights

Built in 1925 (100 years old).
Condition: The property, built in 1925, is being sold as a development opportunity with approved plans for a new 24-unit apartment building. The listing focuses on the land's potential and the approved building plans, implying the existing structure is not habitable and likely requires demolition. The images confirm the existing structure is old and not the focus of the listing.
Year Built
1925
Close
-
List price
$1.19M
Original List price
$1.19M
Price/Sqft
$1,021
HOA
-
Days on market
-
Sold On
-
MLS number
SR25048113
Home ConditionTear down
Features
View-

About this home

Prime Development Opportunity with Approved Plans in Progress to build 24-unit, 5-story apartment building under Type V5 construction! With LAR3 zoning. Plans are expected to be RTI (Ready to Issue) in just 2 months! A fantastic equity opportunity. Each unit is thoughtfully designed as a 1-bedroom, 1-bathroom with privete balcony and trash shut on each floor qualifying as part of an affordable housing initiative. With no parking requirements, this project maximizes the use of space and profitability. Don’t miss out on this rare chance to develop in a prime location. Contact us today for more details and to schedule a property tour! If Buyer wishes to increase the number of units from 24 to 30, it is feasible. The units will be slightly smaller, and the city has already granted approval for this adjustment. Buyer to independently verify all information.

Condition Rating
Tear down
The property, built in 1925, is being sold as a development opportunity with approved plans for a new 24-unit apartment building. The listing focuses on the land's potential and the approved building plans, implying the existing structure is not habitable and likely requires demolition. The images confirm the existing structure is old and not the focus of the listing.
Pros & Cons

Pros

Development Opportunity: Prime development opportunity with approved plans in progress to build a 24-unit apartment building.
High-Density Zoning: LAR3 zoning allows for high-density development, maximizing the potential for profitability.
Affordable Housing Initiative: Each unit is designed as a 1-bedroom, 1-bathroom with a private balcony, qualifying as part of an affordable housing initiative.

Cons

As-Is Condition: The property is being sold as-is, which may require initial investment for site preparation or existing structure demolition.
Verification Required: Buyer needs to independently verify all information, including the feasibility of increasing the number of units.

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