7008 Encino Ave
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7008 Encino Ave
3 Unit Apartment Building $1,750,000 ($583,333/Unit) 5.27% Cap Rate Van Nuys, CA 91406
Investment Highlights
- 100% Rented with 14.6 GRM - 3 Units on 8,877 Sq Ft Lot in Prime Lake Balboa North of Encino
- 3-Bed, 2-Bath, 1,200 Sq Ft Brand-New ADU with Fully Paid-Off Solar Panels
- Each With Its Own Address, Private Outdoor Space, and In-Unit Laundry
- 4-Bed, 3-Bath, 1,613 Sq Ft Fully Remodeled Main House
- 1-Bed, 1-Bath, 345 Sq Ft Brand-New JADU
- Easy Access to the 101 & 405 Freeways, and the Orange Line Busway
Executive Summary
At a new price and an exciting GRM of 14.6, this fully rented three-unit property offers an excellent opportunity for those seeking to complete a 1031 exchange or acquire a high-income-generating asset in a prime residential neighborhood of Lake Balboa, conveniently located near the 405 and 101 FWYs just north of Encino. The property features a remodeled and extended 4-bed, 3-bath, 1,613 sq ft main house, a brand-new 3-bed, 2-bath, 1,200 sq ft detached ADU with a paid-off solar system, and a 1-bed, 1-bath, 345 sq ft JADU. In total, it offers 3,158 sq ft of living space with a combined 8-bed, 6-bath count on an 8,877 sq ft lot. Three units, each with its own address, private outdoor space, and in-unit laundry. The main house features an open floor plan with a spacious living room, a primary suite, and a junior suite. It boasts a brand-new kitchen equipped with white shaker cabinetry, quartz countertops, a walk-in pantry, and fully renovated bathrooms. The new detached ADU offers private outdoor space with palm trees, enclosed by a white vinyl fence. Inside, the open floor plan seamlessly connects the spacious living room to the new kitchen, featuring white shaker cabinetry and quartz countertops. The primary bedroom includes a large walk-in closet and a private bathroom with a tub. The newly completed JADU is located at the front of the property and features a living space, a well-sized bedroom with a wall-to-wall closet, and a kitchen with white shaker cabinetry and quartz countertops. The bathroom includes a tub and stackable laundry hookups. Recessed lighting, laminate floors, and double-paned windows are featured throughout all units. Nearby amenities include Lake Balboa Park, golf courses, an off-leash dog park, and a Sunday farmer’s market. With easy access to the 101 and 405 freeways and the Orange Line Busway, this property offers both convenience and a prime location. Don’t miss out on this exceptional investment opportunity—schedule your private tour today!
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$120,000
|
$38.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$120,000
|
$38.00
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $38.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $38.00 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,750,000 | Apartment Style | Single Family Home |
| Price Per Unit | $583,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.27% | Building Size | 3,158 SF |
| Gross Rent Multiplier | 14.6 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.95/1,000 SF |
| Price | $1,750,000 |
| Price Per Unit | $583,333 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| Gross Rent Multiplier | 14.6 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 3,158 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2024 |
| Parking Ratio | 0.95/1,000 SF |
Unit Amenities
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 1 | $4,300 | 1,613 |
| 3+2 | 2 | $3,700 | 1,200 |
| 1+1 | 3 | $2,000 | 345 |
1 of 1
Walk Score ®
Very Walkable (71)
zoning
| Zoning Code | LAR1 |
| LAR1 |
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