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$ 22,900,000
Est. payment | /mo
108 Beds
96 Baths
66,796 SqFt
$ 22,900,000
Est. payment | /mo
108 Beds
96 Baths
66,796 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 66,796 sqft
Price per Sqft $342
MLS Listing ID 26946437
Bedrooms 108
HOA Y/N No
Year Built 2022
Lot Size 0.568 Acres
Property Description
We are pleased to present V on Victory, a 68-unit apartment community completed in 2022 at 13724 Victory Boulevard in Valley Glen. The Property comprises four residential floors above a gated podium garage, totaling 66,796 gross square feet on a 24,749-square-foot lot. The unit mix consists of 40 one-bedroom, 16 two-bedroom, and 12 three-bedroom residences averaging approximately 832 rentable square feet, including a penthouse level.The Property offers a turnkey, professionally managed operation with full on-site staffing and a comprehensive amenity package featuring a landscaped rooftop deck with mountain views, furnished resident lounge, fitness center, co-working office, controlled access, and package lockers. Every residence includes an in-unit washer and dryer, while an established RUBS program provides utility reimbursement income. Vacant residences are marketed at the manager's current market rents, providing an incoming investor with immediate lease-up upside without the need for renovation capital.Completed in 2022, V on Victory is exempt from the City of Los Angeles Rent Stabilization Ordinance and remains outside the rent-cap provisions of AB 1482 through February 2037, leaving 64 of the Property's 68 residences without rent caps for approximately the next eleven years. The Property is also located within a federally designated Opportunity Zone. Additionally, its current assessed value closely tracks the offering basis, significantly limiting potential property tax reassessment exposure upon sale.V on Victory is strategically positioned along Victory Boulevard just west of Woodman Avenue in Valley Glen, near the geographic and civic center of the San Fernando Valley. The Van Nuys Government Center is approximately 0.9 miles west and serves as a major employment hub encompassing the Los Angeles Superior Court Northwest District, LAPD Valley Bureau and Van Nuys Division, and numerous city, county, and state agencies, including the DMV and DPSS. The Property also benefits from proximity to the established commercial corridors along Van Nuys and Victory boulevards.Three major hospitalsValley Presbyterian Hospital, Sherman Oaks Hospital, and Kaiser Permanente Panorama Cityare located within approximately 2.2 miles of the Property, providing substantial nearby healthcare employment. Van Nuys Airport, approximately 3.5 miles northwest, spans roughly 730 acres and supports more than 10,000 affiliated jobs across approximately 200 businesses. Los Angeles Valley College is approximately 1.1 miles southeast, with enrollment exceeding 18,000 students, serving as both a major local employer and a consistent source of renter demand.The Property also offers convenient regional connectivity, with access to the 101, 405, and 170 freeways within approximately ten minutes. The Metro G Line station at Woodman is roughly one mile away and provides connections to the B Line subway in North Hollywood. Further enhancing long-term transit accessibility, the East San Fernando Valley Light Rail project is under construction along Van Nuys Boulevard and is planned to add 11 stations, with service currently scheduled for December 2031. Within ZIP Code 91401, approximately 67% of households are renter occupied, supported by a median household income of $79,552.
Location
State CA
County Los Angeles
Area Vg - Valley Glen
Zoning LAC1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Microwave, Oven, Refrigerator, Dryer, Washer
Exterior
Parking Features Garage, Gated, Tandem
Pool None
Community Features Gated
Private Pool No
Building
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 2239006043
Security Features Fire Sprinkler System,Gated Community,Key Card Entry
Special Listing Condition Standard
Listed by Filip Niculete Marcus & Millichap #01905352