6401 Odessa Ave
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6401 Odessa Ave
7 Unit Apartment Building $4,249,000 ($607,000/Unit) 5.84% Cap Rate Lake Balboa, CA 91406
Investment Highlights
- 5.66% Cap Rate
- Massive Windows, Sliding Doors, and Bedrooms
- Beautiful Golf Course and Mountain Views
Executive Summary
Welcome to 6401 Odessa Ave., a brand-new 7-unit multifamily complex in the heart of Lake Balboa, offering modern luxury and outstanding convenience. With a projected yearly income of $320,400 and a strong projected 5.66% cap rate, this property is a top-tier investment opportunity. Nestled steps away from the Van Nuys Golf Course and with seamless access to major freeways, this property is ideally located to attract tenants seeking a combination of comfort and accessibility.
Each unit features soaring 9 and 10-foot ceilings, custom kitchens with state-of-the-art appliances, and massive windows that flood interiors with natural light. Select bathrooms offer spa-like rainfall showerheads and sprayers. While on the exterior, the grounds are furnished with low-maintenance landscaping which enhances the property’s aesthetic appeal. A soon-to-be-installed massive gated entrance will ensure privacy and security, further complementing the property’s high-end features. To bolster safety, the property is equipped with 10 security cameras, accessible via a mobile app for real-time monitoring and peace of mind.
Nearby amenities include Lake Balboa Park, the Sepulveda Basin Recreation Area, and a range of dining options such as Salsa & Beer and The Drunken Crab. Shopping and entertainment hubs like The Sherman Oaks Galleria and Van Nuys Plaza are also just minutes away.
The property provides ample on-site parking, with additional street parking in the quiet neighborhood surrounded by single-family homes. Combining luxury features, a prime location, and robust financial potential, 6401 Odessa Ave is an unparalleled opportunity in the thriving Van Nuys market. Schedule your tour today to see everything this exceptional property has to offer!
Each unit features soaring 9 and 10-foot ceilings, custom kitchens with state-of-the-art appliances, and massive windows that flood interiors with natural light. Select bathrooms offer spa-like rainfall showerheads and sprayers. While on the exterior, the grounds are furnished with low-maintenance landscaping which enhances the property’s aesthetic appeal. A soon-to-be-installed massive gated entrance will ensure privacy and security, further complementing the property’s high-end features. To bolster safety, the property is equipped with 10 security cameras, accessible via a mobile app for real-time monitoring and peace of mind.
Nearby amenities include Lake Balboa Park, the Sepulveda Basin Recreation Area, and a range of dining options such as Salsa & Beer and The Drunken Crab. Shopping and entertainment hubs like The Sherman Oaks Galleria and Van Nuys Plaza are also just minutes away.
The property provides ample on-site parking, with additional street parking in the quiet neighborhood surrounded by single-family homes. Combining luxury features, a prime location, and robust financial potential, 6401 Odessa Ave is an unparalleled opportunity in the thriving Van Nuys market. Schedule your tour today to see everything this exceptional property has to offer!
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,249,000 | Apartment Style | Low Rise |
| Price Per Unit | $607,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.84% | Building Size | 9,014 SF |
| Gross Rent Multiplier | 13.41 | Average Occupancy | 0% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Price | $4,249,000 |
| Price Per Unit | $607,000 |
| Sale Type | Investment |
| Cap Rate | 5.84% |
| Gross Rent Multiplier | 13.41 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 9,014 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 1.11/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 1 | $4,400 | 1,540 - 1,555 |
| 2+2 | 2 | $2,800 | 642 - 674 |
| 3+3 | 2 | $4,000 | 1,464 - 1,532 |
| 4+3 | 2 | $4,300 | 1,607 |
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Bike Score ®
Very Bikeable (80)
zoning
| Zoning Code | LAR3 |
| LAR3 |
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