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6402 Graves Avenue, Van Nuys, California 91406, Van Nuys, 91406 - 5 bed, 4 bath

6402 Graves Avenue, Van Nuys, California 91406 home-pic-0
ACTIVE$1,099,000
6402 Graves Avenue, Van Nuys, California 91406
5Beds
4Baths
2,096Sqft
7,200Lot
Year Built
1955
Close
-
List price
$1.1M
Original List price
$1.2M
Price/Sqft
$524
HOA
-
Days on market
-
Sold On
-
MLS number
SR25177120
Home ConditionFair
Features
Good View: Park/Greenbelt
Deck
Patio
ViewPark/Greenbelt

About this home

We found 3 Cons,6 Pros. Rank: price - $1.10M(85th), sqft - 2096(86th), beds - 5(95th), baths - 4(94th).

*** FULLY PERMITTED ADU *** SEPARATE BACKHOUSE *** VALUE ADD OPPORTUNITY *** Welcome to 6402 Graves Ave, located in the highly desirable Lake Balboa neighborhood of Van Nuys. This beautiful property offers a rare combination of space, versatility, and location. Featuring 5 spacious bedrooms and 4 full bathrooms, this home is perfect for large families or investors. One of the standout features is the fully permitted Accessory Dwelling Unit (ADU), offering flexibility for rental income, a guest suite, or extended family living. The ADU includes its own private entrance, kitchen, bathroom, living space, and outdoor space. Ideal for tenants or independent living arrangements. Conveniently located in Lake Balboa, you’ll enjoy easy access to local parks, schools, shops, and the 405 and 101 freeways, making commuting easy. Whether you’re looking for a place to call home or a strong investment opportunity, this property checks all the boxes. Seller and Seller's Broker do not guarantee any information regarding property, square footage, use, zoning, or any other factor of the property. Buyer and buyer's broker to do their own due diligence and satisfy themselves.

Nearby schools

5/10
Lemay Street Elementary School
Public,•K-5•0.5mi
6/10
Lemay Street Elementary School
Public,•K-5•0.6mi
3/10
Gault Street Elementary School
Public,•K-5•0.8mi
3/10
Gault Street Elementary School
Public,•K-5•0.9mi
3/10
Bertrand Avenue Elementary School
Public,•K-5•1.2mi
3/10
Anatola Avenue Elementary School
Public,•K-5•1.2mi
3/10
Anatola Avenue Elementary School
Public,•K-5•1.2mi
7/10
Stagg Street Elementary School
Public,•K-5•1.8mi
3/10
Bassett Street Elementary School
Public,•PK-5•1.9mi
4/10
Bassett Street Elementary School
Public,•K-5•1.9mi
6/10
Lorne Street Elementary School
Public,•K-5•2.1mi
5/10
Cantara Street Elementary School
Public,•K-5•2.4mi
4/10
Sylvan Park Elementary School
Public,•K-5•2.7mi
9/10
Kester Avenue Elementary School
Public,•K-5•3.2mi
5/10
William Mulholland Middle School
Public,•6-8•0.3mi
3/10
William Mulholland Middle School
Public,•6-8•0.5mi
3/10
Northridge Middle School
Public,•6-8•2.8mi
2/10
Van Nuys Middle School
Public,•6-8•3.5mi
4/10
Reseda Senior High School
Public,•9-12•1.3mi
6/10
Van Nuys Senior High School
Public,•9-12•3.1mi
7/10
Northridge Academy High
Public,•9-12•4.1mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•5.0mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•5.1mi

Price History

Date
Event
Price
09/17/25
Price Change
$1,099,000-8.4%
08/07/25
Listing
$1,200,000
Condition Rating
Fair
Built in 1955, this property shows signs of regular maintenance but has not undergone a recent extensive renovation. The kitchens and bathrooms, while functional, feature dated cabinets, countertops (marble-look laminate/tile), and appliances (white dishwasher), indicating they are likely 15-30 years old in style. The tile flooring throughout is durable but also dated. While there are some updates like solar panels and recessed lighting in the living area, the overall aesthetic and key features require significant cosmetic updates to meet current market standards, aligning with a 'value add opportunity' as described in the listing.
Pros & Cons

Pros

Great Schools: Elementary School: Kester Avenue Elementary School (9/10).
Income-Generating ADU: Features a fully permitted Accessory Dwelling Unit (ADU) with its own entrance, kitchen, bathroom, living space, and outdoor area, offering significant potential for rental income or multi-generational living.
Spacious Accommodation: With 5 spacious bedrooms and 4 full bathrooms, the property is well-suited for large families or multiple occupants, providing ample living space.
Desirable Location: Located in the highly desirable Lake Balboa neighborhood of Van Nuys, offering easy access to local parks, schools, shops, and major freeways (405 and 101) for convenient commuting.
Strong Investment Opportunity: Explicitly marketed as a 'strong investment opportunity,' particularly enhanced by the income potential of the permitted ADU.
Park/Greenbelt View: The property benefits from a desirable 'Park/Greenbelt' view, adding to its aesthetic appeal and potential for outdoor enjoyment.

Cons

Property Age: Built in 1955, the property may have older systems and infrastructure that could require significant maintenance, upgrades, or renovations in the near future.
Pricing Strategy & Market Value: The property has undergone a price reduction from its original listing, and the current list price is slightly above the estimated market value, potentially indicating pricing challenges or room for negotiation.
Buyer Due Diligence & 'Value Add': The strong emphasis on buyer due diligence and the 'value add opportunity' phrasing suggest the property may not be turn-key and could require additional investment or effort from the buyer to maximize its potential.

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