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16805 Sherman Way, Lake Balboa, California 91406, Lake Balboa, 91406 - bed, bath

16805 Sherman Way, Lake Balboa, California 91406 home-pic-0
ACTIVE$875,000
16805 Sherman Way, Lake Balboa, California 91406
0Bed
0Bath
2,272Sqft
6,915Lot
Year Built
1948
Close
-
List price
$875K
Original List price
$950K
Price/Sqft
$385
HOA
-
Days on market
-
Sold On
-
MLS number
SR25041364
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $875.0K(50th), sqft - 2272(50th), beds - undefined(50th), baths - undefined(50th).

PRICE REDUCTION!!! Attention Astute Investors! This wonderful Tri-Plex is located in a great Lake Balboa neighborhood, and at this competitive price point it’s a great investment opportunity for any investor or developer. It has a Sherman Way address but all entrances are on Forbes Avenue. The units consist of one 2 bedroom, 1 bath unit, and two 1 bedroom, 1 bath units. A NEW ROOF HAS BEEN INSTALLED in the three units. NEW PAINT INSIDE VACATED UNIT AND OTHER UPDATES IN THE OCCUPIED UNITS. Each unit has a dedicated off street parking space. Landlord pays for water, tenants pay for gas and electricity. It has a total of 2,272 square feet of living space. Zoned LARD2. Sweeping 6,915 square foot corner lot. Property has a high Walk Score® of 71; Meaning the location is Very Walkable so most errands can be accomplished on foot. Close to restaurants, grocery stores, and a very short drive to the 405 freeway and Lake Balboa Park with its boating lake, golf course, and comprehensive sport amenities and activities. Call now for all the details and I’ll gladly arrange a private tour.

Nearby schools

3/10
Gault Street Elementary School
Public,•K-5•0.3mi
3/10
Gault Street Elementary School
Public,•K-5•0.4mi
7/10
Stagg Street Elementary School
Public,•K-5•0.9mi
3/10
Anatola Avenue Elementary School
Public,•K-5•0.9mi
3/10
Anatola Avenue Elementary School
Public,•K-5•0.9mi
6/10
Lemay Street Elementary School
Public,•K-5•1.0mi
5/10
Lemay Street Elementary School
Public,•K-5•1.1mi
6/10
Lorne Street Elementary School
Public,•K-5•1.3mi
3/10
Bassett Street Elementary School
Public,•PK-5•1.3mi
4/10
Bassett Street Elementary School
Public,•K-5•1.4mi
3/10
Bertrand Avenue Elementary School
Public,•K-5•1.5mi
5/10
Cantara Street Elementary School
Public,•K-5•1.9mi
4/10
Sylvan Park Elementary School
Public,•K-5•2.5mi
9/10
Kester Avenue Elementary School
Public,•K-5•3.3mi
3/10
William Mulholland Middle School
Public,•6-8•0.7mi
5/10
William Mulholland Middle School
Public,•6-8•0.8mi
3/10
Northridge Middle School
Public,•6-8•2.2mi
2/10
Van Nuys Middle School
Public,•6-8•3.5mi
4/10
Reseda Senior High School
Public,•9-12•2.0mi
6/10
Van Nuys Senior High School
Public,•9-12•2.7mi
7/10
Northridge Academy High
Public,•9-12•3.3mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•4.0mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•4.1mi

Price History

Date
Event
Price
08/13/25
Price Change
$875,000
02/25/25
Listing
$950,000
Condition Rating
Fair
Built in 1948, this triplex is an aged property that has received some recent maintenance, including a new roof and fresh paint in a vacated unit. However, the images reveal that the kitchen and bathrooms are significantly outdated, featuring older appliances, dated countertops, and a very vintage bathroom shower. While functional and move-in ready, these key areas show signs of being 15-30 years old in terms of style and features, requiring substantial updates to meet modern standards. The property is maintained but not extensively renovated, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Strong Investment Potential: This tri-plex offers multiple income streams, a recent price reduction, and is explicitly marketed as a great opportunity for investors and developers.
Excellent Location & Accessibility: Boasts a high Walk Score® of 71, indicating walkability to amenities like restaurants and grocery stores, close proximity to Lake Balboa Park, and convenient access to the 405 freeway.
Recent Capital Improvements: A new roof has been installed on all three units, along with new paint in a vacated unit and other updates, reducing immediate maintenance concerns for a buyer.
Favorable Zoning & Lot Attributes: Zoned LARD2 on a sweeping 6,915 sq ft corner lot, offering potential for future development, expansion, or increased density.
Tenant-Friendly Features: Each unit includes dedicated off-street parking, and the diverse unit mix (one 2-bed, two 1-bed) appeals to a wider range of potential tenants.

Cons

Property Age & Potential System Updates: Built in 1948, the property is over 75 years old, suggesting that while the roof is new, other major systems (e.g., plumbing, electrical, HVAC) may be original or require significant future upgrades not explicitly mentioned.
Landlord-Paid Water Utility: The landlord is responsible for water costs, which is an ongoing expense that can impact the net operating income and overall profitability for an investor.
Lack of Desirable Views: The property description indicates 'view: None,' meaning it does not offer any special or scenic views that could add to its market value or tenant appeal.

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