14717 Victory Boulevard, Van Nuys, California 91411, Van Nuys, 91411 - 3 bed, 2 bath
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Van Nuys, California 91411
This property presents a High-Potential Investment Opportunity with a List Price of $1,250,000—positioned above the $1,044,609 Fair Market Value. While the current structure has a Condition Rating of 6, the value lies in the LAR3 zoning and Ready-to-Issue (RTI) plans for a 24-unit apartment building. With the potential to increase density to 30 units and zero parking requirements, this asset is engineered for maximum ROI. This is a strategic acquisition ideal for Buy-and-Hold Investors or Multi-Family Developers seeking a high-yield project in a prime corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 14717 Victory Boulevard Subject | $1,250,000* List Price | 3 | 2 | 1,166 | $896 | - |
A 5839 Tobias Sold | $965,000 | 3 | 1 | 974 | $991 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1925 and over 50 years old with no evidence of recent renovations, the property is being marketed strictly as a development opportunity for a 24-30 unit apartment building. The value lies entirely in the land and the Ready-to-Issue (RTI) plans rather than the existing structure.
The property is nearing Ready-to-Issue (RTI) status for a 24-unit apartment building, significantly accelerating the construction timeline and reducing entitlement risk for developers.
The project maximizes ROI with city-approved feasibility to increase density to 30 units and a complete absence of parking requirements, allowing for maximum usable square footage.
Located in a prime Van Nuys corridor, the LAR3 zoning and affordable housing initiative alignment provide a high-yield opportunity in a high-demand rental market.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
The $1.25M asking price reflects the value of the entitlements rather than the existing 1925 structure, requiring significant upfront capital before construction begins.
Realizing the property's full potential requires navigating a complex 5-story construction project and strictly adhering to affordable housing initiative guidelines.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,166 | 1,562 | 20% |
| Lot Size | 6,502 | 6,752 | 33% |
| Price | $1.25M | $1.07M | 67% |
| Price per sq ft | $1.1K | $739 | 98% |
| Built year | 1925 | 1950 | 4% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 157 | 4% |
May 18, 2026
$1,250,000
Initial Listing
May 20, 2024
$850,000
Public Record
Aug 1, 2012
$219,500
Public Record
Apr 27, 2001
$158,000
Public Record