17650 Saticoy St., Lake Balboa, CA 91406
INVESTMENT OVERVIEW
This 19,803 SF infill development site will be delivered with Ready-to-Issue (RTI) permits for a modern 5-story, 139-unit multifamily project in the desirable Lake Balboa neighborhood of the San Fernando Valley. The approved plans include a well-balanced unit mix of 59 studios and 80 one-bedrooms, with average sizes between 318 and 473 square feet, ideal for efficient, high-absorption rental product.
Lake Balboa, within the 91406 ZIP code, continues to emerge as one of the Valley’s most stable and steadily growing residential submarkets. With easy access to the 405 and 101 freeways, Van Nuys Airport, Lake Balboa Park, and regional job centers, the property sits at the intersection of convenience and affordability—two of the strongest drivers in today’s Los Angeles housing market.
The site is zoned C4-1VL / P-1VL, allowing for commercial-residential flexibility and additional development options in the future. Located along a visible stretch of Saticoy Street, the property enjoys strong vehicle traffic, walkability, and access to transit.
The submarket is significantly underbuilt relative to demand, creating opportunity for new rental housing with efficient layouts and lower price points that appeal to a broad renter demographic.
With RTI permits secured, developers can immediately break ground, eliminating entitlement risk and significantly reducing time to market. The project is positioned to meet increasing demand for compact, attainable housing—a trend accelerated by affordability pressures, shifting renter preferences, and regional upzoning policies.
17650 Saticoy St. offers investors a shovel-ready, mid-size multifamily development with strong fundamentals, long-term income potential, and optionality for various leasing or exit strategies. Whether held for stabilized cash flow or delivered as a lease-up asset, this project represents a rare opportunity to build at scale in one of LA’s most consistent rental markets.
17650 Saticoy St
Project Overview
| Project Information | |
|---|---|
| Gross Building Area | 72,446 SF |
| Build-able Units | 139 Unit 80 (1-Bedroom) | 59 (STUDIOS) |
| Stories | 5 |
| Net Rentable | 64,252 SF |
| Lot Size | 19,803.3 SF |
| Legal Description | |
| Site Address | 17650 Saticoy St., Lake Balboa, CA 91406 |
| Zoning | C4-1VL/P-1VL | N/A |
| APN | 2202025024 |
17650 Saticoy St
Price Analysis
Gross building area
72,446 SF
Build-able Units
139
STORIES
5 FLOORS
LOT SIZE
19,803.3 SF
NET RENTABLE AREA
64,252 SF
| COST SUMMARY | |
|---|---|
| Acquisition Costs: | $ 5,500,000.00 |
| Operating Expenses at 5% of Acquisition | $275,000.00 |
| Construction Costs: | $12,650,000.00 |
| Total Development Costs | $18,425,000.00 |
| Plan #1 : DISPOSITION | ||
|---|---|---|
| Projected Property Value: | $42,468,945.23 | |
| Disposition Cap Rate: | 6.50% | |
| Sales Proceeds at Disposition: | ||
| Projected Sale Value: | $42,468,945.23 | |
| Broker Commission: at 6.0% of Sale Price | $ 2,548,136.71 | |
| Closing Cost: at 0.5% of Sale Price | $ 212,344.73 | |
| Net Sale Proceed | $ 39,708,463.79 | |
| less: Project Cost | $ 18,425,000.00 | |
| Net Profit | $ 21,283,463.79 | |
| ROI | 115.51% | |
| PLAN #2: HOLD | |
|---|---|
| OPERATING PERFORMANCE | |
| Scheduled Lease Revenue | $ 3,616,272.00 |
| less: Manager Unit | $ 24,048.00 |
| less: Vacancies & Bad Debt at 3.00 % | $ 108,488.16 |
| less: Operating Expenses | $ 723,254.40 |
| Total | $ 855,790.56 |
| Residential Cash Flow | $ 2,760,481.44 |
| Net Operating Income | $ 2,760,481.44 |
| Cap Rate on Total Cost | 14.98% |
17650 Saticoy St
Project Plans
Lake Balboa - San Fernando Valley
Neighborhood
Located in the heart of the San Fernando Valley, within the desirable Lake Balboa neighborhood of Los Angeles.
Provides excellent connectivity to major freeways including I-405, US-101, and SR-118, allowing quick access to Sherman Oaks, Burbank, and Downtown Los Angeles.
Within minutes of Van Nuys Airport and a short drive to the Orange Line Busway, offering efficient transit options across the Valley.
Nearby Saticoy Street and Balboa Boulevard serve as active commercial corridors with shops, restaurants, and essential services.
Centrally positioned with convenient access to employment hubs, schools, and parks — ideal for both residents and commuters.
A family-oriented, suburban community known for its quiet streets, mature trees, and neighborhood pride.
Diverse population with a blend of long-term homeowners and new residents seeking suburban comfort within the city.
Attracts working professionals and families drawn to its balance of affordability, safety, and accessibility.
Characterized by single-family homes, townhouses, and small multi-family complexes.
Increasing redevelopment activity includes modern apartment projects and accessory dwelling units (ADUs).
Stable rental demand supported by proximity to Van Nuys, Northridge, and Encino employment centers.
Attractive for long-term residents seeking spacious layouts, green surroundings, and local community feel.
Offers a tranquil, suburban lifestyle with abundant outdoor and recreational amenities.
Lake Balboa Park, Anthony C. Beilenson Park, and Sepulveda Basin Recreation Area provide access to lakes, trails, and sports facilities.
Local dining options range from family-owned cafés to international cuisine along Balboa and Victory Boulevards.
Residents enjoy farmers markets, weekend bike paths, and community events, fostering a strong neighborhood identity.
Served by the Los Angeles Unified School District (LAUSD).
Nearby schools include Mulholland Middle School, Birmingham Community Charter High School, and Stagg Street Elementary.
Within a short commute to Los Angeles Valley College for higher education opportunities.
Easy access to shopping centers, grocery stores, and healthcare services along Victory and Vanowen Boulevards.
Close to Van Nuys Airport, providing charter and general aviation services.
The Sepulveda Basin Sports Complex and Japanese Garden offer unique recreational and cultural attractions.
Well-connected to public transportation and freeway systems, ensuring smooth access across the Valley and greater Los Angeles area.
