Lake Balboa Land for Sale

Lake Balboa Land for Sale

Welcome to Lake Balboa, a hidden gem nestled in the heart of Los Angeles County, California. This vibrant neighborhood is renowned for its picturesque parks, serene lakes, and a welcoming community atmosphere. With a charming blend of suburban tranquility and urban convenience, Lake Balboa offers a unique lifestyle that appeals to families, retirees, and young professionals alike.

One of the standout features of Lake Balboa is its namesake, the stunning Lake Balboa Park. This expansive green space invites residents to enjoy leisurely strolls, picnics, and a variety of outdoor activities. The park's beautiful walking paths, playgrounds, and serene lake create an idyllic setting for relaxation and recreation. Additionally, the area is home to a diverse array of shopping, dining, and entertainment options, ensuring that everything you need is just a stone's throw away.

For those looking to invest in their future, Lake Balboa presents an exciting opportunity with land for sale. Whether you envision building your dream home or developing a new project, the available parcels in this desirable neighborhood offer a canvas for your aspirations. With its prime location, access to major freeways, and proximity to the bustling city of Los Angeles, Lake Balboa is a promising area for real estate investment.

Don't miss your chance to be part of this thriving community. Explore the available land for sale in Lake Balboa and start your journey towards creating the perfect living space in one of Los Angeles County's most enchanting neighborhoods!

Newest Lake Balboa Land for Sale

$1,599,999
26864763 MLS ⋅ Active Status
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. 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. 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). 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!

6401 Whitman Avenue, Lake Balboa
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.