Welcome to 6401 Whitman, a fully entitled 37 unit RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors, Builders ready to pull permits and start building right away. This SHOVEL READY 100% Affordable ED1 project in Lake Balboa featuring 37 units including a manager's office that can be converted into a unit, 19-1 bedroom, 18- studios across a Type V, four story, fully stacked designed which features all wood frame floors on a corner lot that is a currently a vacant land. This design has significant savings in construction costs and time maximizing the most units with significantly lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of San Fernando valley's vibrant and high demand areas, Lake Balboa is just minutes to Encino, Sherman Oaks, Van Nuys and the property located directly across the street to Woodley park which is considered a high resource area on the map. The property is also directly across the street to the Orange Line and the freeway, while major shopping stores like Super King and COSTCO are very close by as well. There is also an opportunity to purchase the neighboring property and get close to almost 12,000 square feet on a double lot. Due to its central location, the area is within top employment hubs and is easy access to Encino, it is a highly desirable and attractive area that has lots of brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area because of it just a walk across the street to the Metro/Orange Line, making this very walkable and bike friendly. The stackable design features 15,111 square feet of livable area and 16,780 square feet of buildable area with units ranging from 268- 338 sq ft Studios and 352 to 465 sq ft- One bedrooms. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 37 units would bring an estimated monthly gross income of $75,482 and yearly gross income of $905,784, or a buyer can look into achieving higher rents with Section 8 vouchers (buyer to verify). The most recent new Section 8 Voucher payment standards has this property and Zip code considered a TIER 7 with 1 bd priced at $2,370 and Studios at $2,110. Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area, LOCATION, LOCATION, LOCATION. Each unit is designed for maximum affordability and optimized rental income. This development presents a ultra rare and immediate opportunity for developers to bring much-needed affordable housing to one of San Fernando Valley's most sought-after areas. BUYER TO VERIFY ALL!
Welcome to 6401 Whitman, a fully entitled 37 unit RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors, Builders ready to pull permits and start building right away. This SHOVEL READY 100% Affordable ED1 project in Lake Balboa featuring 37 units including a manager's office that can be converted into a unit, 19-1 bedroom, 18- studios across a Type V, four story, fully stacked designed which features all wood frame floors on a corner lot that is a currently a vacant land. This design has significant savings in construction costs and time maximizing the most units with significantly lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of San Fernando valley's vibrant and high demand areas, Lake Balboa is just minutes to Encino, Sherman Oaks, Van Nuys and the property located directly across the street to Woodley park which is considered a high resource area on the map. The property is also directly across the street to the Orange Line and the freeway, while major shopping stores like Super King and COSTCO are very close by as well. There is also an opportunity to purchase the neighboring property and get close to almost 12,000 square feet on a double lot. Due to its central location, the area is within top employment hubs and is easy access to Encino, it is a highly desirable and attractive area that has lots of brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area because of it just a walk across the street to the Metro/Orange Line, making this very walkable and bike friendly. The stackable design features 15,111 square feet of livable area and 16,780 square feet of buildable area with units ranging from 268- 338 sq ft Studios and 352 to 465 sq ft- One bedrooms. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 37 units would bring an estimated monthly gross income of $75,482 and yearly gross income of $905,784, or a buyer can look into achieving higher rents with Section 8 vouchers (buyer to verify). The most recent new Section 8 Voucher payment standards has this property and Zip code considered a TIER 7 with 1 bd priced at $2,370 and Studios at $2,110. Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area, LOCATION, LOCATION, LOCATION. Each unit is designed for maximum affordability and optimized rental income. This development presents a ultra rare and immediate opportunity for developers to bring much-needed affordable housing to one of San Fernando Valley's most sought-after areas. BUYER TO VERIFY ALL!
FULLY RENOVATED 3+2 HOME + PERMITTED 1+1 ADU + FUTURE EXPANSION POTENTIAL! Location Location Location!! Beautifully and meticulously renovated single-level home tucked away on a quiet, tree-lined cul-de-sac in one of Lake Balboa’s most desirable neighborhoods. This light-filled 3-bedroom, 2-bath residence offers approximately 1,277 square feet of thoughtfully upgraded living space on an expansive 7,000+ square foot lot. Nearly every detail has been improved, including newer windows and doors, updated drywall, recessed LED lighting, waterproof luxury laminate wood flooring, a newer roof, upgraded HVAC system, and a tankless water heater. The open-concept layout creates seamless flow for everyday living and entertaining. The modern kitchen is completely redone with quartz countertops, new cabinetry, stainless steel appliances, and clean, contemporary finishes. The primary suite features a beautifully remodeled bathroom, creating a comfortable private retreat. A spacious laundry room leads directly to the backyard. What truly sets this property apart is the newly constructed, fully permitted approx. 400 sq ft 1-bedroom, 1-bath ADU — a rare and highly valuable addition. Designed as a true independent living space, it features its own full kitchen, stainless steel appliances, dedicated laundry, and a private entrance. Ideal for rental income, multigenerational living, guest quarters, or a private workspace, the ADU provides immediate flexibility and long-term financial upside. The expansive backyard offers a park-like setting with exceptional space and layout, presenting a rare opportunity to potentially add a third ADU (buyer to verify) — further enhancing income potential and future value. Additional highlights include abundant secure off-street parking and a highly convenient location near Lake Balboa Park, Woodley Lakes Golf Course, the Sepulveda Basin Recreation Area, Encino Farmers Market, and the Metro Orange Line, with easy access to the 101 and 405 freeways. A rare opportunity offering modern upgrades, a brand-new income-producing ADU, and future expansion potential — delivering both lifestyle and investment in one compelling property.
Built in 1990, this gated four-unit townhouse-style apartment property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), offering investors significantly less restricted rental upside. With an excellent location in Lake Balboa, adjacent to Encino, the property also had central HVAC installed in 2019. The property features an attractive unit mix of two 2-bedroom, 2.5-bath units and two 3-bedroom, 2.5-bath units, averaging approximately 1,430 square feet each. Every unit offers a spacious open floor plan with a fireplace, large kitchen, private balcony, washer/dryer hookups, and an oversized attached two-car garage. Two units have also been updated with waterproof laminate flooring throughout the downstairs living areas and bathrooms. There is presently a single water bill, however, there are separate water meters installed for each unit.
***EXCEPTIONAL INVESTMENT OPPORTUNITY*** Rare opportunity to own MULTY UNIE INCOME PROPERTY W TWO PERMITTED ADUS income-producing property featuring a beautifully maintained 4 beds, 2-bath in the main home The Junior ADU is a guest house that is attached to the house with a separate entrance The second ADU has a separate address, creating outstanding flexibility for multigenerational living or rental income SOLAR SYSTEM IS FULLY PAID. The property is move-in ready offers numerous recent upgrades including a newer roof, new floors, paint and bathrooms fully paid-off solar system, helping reduce utility costs and increase long-term value The backyard is a private retreat with mature producing fruit trees and plenty of outdoor space to enjoy Ideal for an owner-occupant looking to live in the main home while generating income from the ADUs, or for an investor seeking strong cash-flow potential. Conveniently located near schools, shopping, dining, parks, public transportation, and major commuter routes. Nearby schools include Stagg Street Elementary, Northridge Middle School, and Birmingham Community Charter High School. Residents will also enjoy easy access to Lake Balboa recreation areas and shopping destinations throughout the neighborhood. All information is deemed reliable but not guaranteed. Buyer is advised to independently verify the accuracy of all property information. Listing agent and broker are not responsible for inaccuracies
Lake Balboa is located in California.
