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$1,175,000
14717 Victory Boulevard, Van Nuys, California 91411
3Beds
2Baths
1,166Sqft
6,502Lot
Year Built
1925
Close
-
List price
$1.18M
Original List price
$1.18M
Price/Sqft
$1,008
HOA
-
Days on market
-
Sold On
-
MLS number
SR25248003
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 29% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.18M(57th), sqft - 1166(20th), beds - 3(50th), baths - 2(50th).

RARE, SHOVEL-READY DEVELOPMENT OPPORTUNITY in a highly sought-after location! This is a fantastic equity opportunity offering a fast track to development with plans for a 24-unit, 5-story apartment building (LAR3 zoning) anticipated to be Ready-to-Issue (RTI) very soon! The project is strategically designed for maximum profitability, featuring 1-bedroom, 1-bathroom units—each with a private balcony and access to floor-level trash chutes—that qualify under an affordable housing initiative. Crucially, the absence of parking requirements dramatically maximizes usable space and return on investment. For the savvy buyer looking to push boundaries, the city has already approved the feasibility to increase the unit count from 24 to 30 units. Seize this moment to acquire a high-yield asset in a prime development corridor. Contact us immediately for full plans and to secure your stake in this exceptional venture! Buyer to independently verify all information.

Price History

Date
Event
Price
10/27/25
Listing
$1,175,000
Condition Rating
Tear down

The property was built in 1925, making it nearly 100 years old. The MLS listing explicitly markets this as a 'SHOVEL-READY DEVELOPMENT OPPORTUNITY' for a new 24-30 unit apartment building, with all provided images being architectural renderings of the proposed new construction, not the existing single-family residence. There is no information or visual evidence regarding the condition of the current 3-bed, 2-bath home. This strongly indicates that the value of the property lies solely in the land and its redevelopment potential, and the existing structure is considered obsolete and intended for demolition.
Pros & Cons

Pros

Shovel-Ready Development: The property offers a fast track to development with plans for a 24-unit, 5-story apartment building anticipated to be Ready-to-Issue (RTI) very soon.
High Density Potential: Approved feasibility to increase the unit count from 24 to 30 units, maximizing potential return on investment and density.
No Parking Requirements: The absence of parking requirements significantly maximizes usable space and enhances the return on investment for the development.
Affordable Housing Qualification: Units qualify under an affordable housing initiative, potentially offering benefits such as expedited permits or financial incentives.
Prime Development Location: Situated in a highly sought-after location and prime development corridor in Van Nuys, indicating strong rental demand and future appreciation.

Cons

RTI Status Pending: While anticipated, the plans are not yet officially Ready-to-Issue (RTI), which could introduce unforeseen delays or additional requirements.
Extensive Buyer Due Diligence: The buyer is responsible for independently verifying all information, including plans, zoning, and feasibility, adding time, cost, and risk to the acquisition.
Significant Capital Investment Required: Beyond the purchase price, substantial additional capital will be needed for construction, permits, and project management, representing a high barrier to entry.

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