Under Contract

7203 Rubio Avenue

Van Nuys, CA 91406

$10,500,000 $44,268/Mo

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Overview

Bed

Bath

32,777

Sqft

23,426

Sqft(Lot)

Description

We are pleased to present 7203 Rubio Avenue, a high-quality multifamily investment opportunity located in the Lake Balboa neighborhood of the San Fernando Valley. Constructed in 2013, the property consists of 29 residential units and a separately leased on-site office space situated on a prominent corner lot at the intersection of Sherman Way and Rubio Avenue. This offering represents the first time the asset has been brought to market since completion, providing investors the rare opportunity to acquire a modern, institutionally maintained property in a central infill Los Angeles location. The residential component features a well-balanced unit mix of one-, two-, and three-bedroom layouts ranging from approximately 675 to 1,295 square feet. Units are outfitted with contemporary interior f inishes, including recessed lighting, luxury vinyl plank flooring, quartz countertops, stainless steel appliances, wood cabinetry, and generous storage. Some of the units have tile throughout the kitchen, living room, and bathroom areas. Seventeen units offer private balconies, and the property includes common area spaces on the third and fourth floors that provide panoramic views of the San Fernando Valley and additional lifestyle appeal. The on-site office space is leased to an insurance firm with a term extending through May 31, 2027,offering stable supplemental income the space is approximately 1,200 SF and equipped with a kitchen and bathroom, ideal for a potential ADU conversion. Built in 2013, the property is not subject to the Los Angeles Rent Stabilization Ordinance, allowing for greater operational flexibility and long-term growth. The asset has strong occupancy, demonstrating tenant demand and providing immediate in-place cash flow. At the asking price, the offering is priced at $362,069 per unit and $320 per square foot, reflecting a 5.40% CAP rate and an 12.24 gross income multiplier based on current operations. The property is well equipped with 53 gated ground-floor parking spaces, EV charging stations, a secure intercom-controlled entry system, and security cameras throughout. Utilities are separately metered, including water, which minimizes landlord expense exposure. With little to no deferred maintenance, the asset offers investors a truly turnkey acquisition. Strategically located with convenient access to the 405 and 101 Freeways, the property benefits from proximity to major retail, dining, and employment corridors along Sherman Way, Victory Boulevard, and Balboa Boulevard. Residents enjoy efficient connectivity throughout the San Fernando Valley, including nearby communities such as Encino, Tarzana, Sherman Oaks, and Valley Village. Lake Balboa remains a stable, supply constrained submarket characterized by favorable demographics, consistent renter demand, and a central location, making 7203 Rubio Avenue an attractive long-term investment opportunity in the Los Angeles multifamily market.

Property Details

Property Type : Residential Income

Price : $10,500,000

AD Id : 75731046

MLS Id : 26658831

Beds : 59

Lot Size : 23,426 Sqft

Living Area Size : 32,777

Year Built : 2013

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 59

Bathroom Information

Total Baths: 49 Full Baths: 0 Half Baths: 0
Cooling Features

None Air Conditioning

Heating Source

None Has Heating

Building Information

Year Built: 2013 Building Area Total: 32,777

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.5378
Lot Size Source: Assessor Lot Size Square Feet: 23426

Listing Price Information

Original List Price: 10,500,000 Listing Contract Date: 2026-03-02
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 2226016025

Garage and Parking

Garage Description: Gated,Community Structure

Homeowners Association

Other Property Info

Source Listing Status: Active Under Contract Source Neighborhood: LKBL - Lake Balboa Directions: Corner of Rubio Ave & Sherman Way Zoning: LAC2 Source Property Type: Residential Income Area: LKBL - Lake Balboa
Building and Construction

Property Age: 13 Year Built Source: Vendor Enhanced Total Square Feet Living: 32777 Levels or Stories: Three Or More

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
15401 Saticoy Street, Van Nuys, CA, 91406	$1,499,000	4	1	2,675	2,675 SqFt
15358 Cohasset, Van Nuys, CA, 91406	$1,698,900	5	4	2,901	2,901 SqFt
15329 Vose Street, Van Nuys, CA, 91406	$6,500,000	48	--	24,952	24,952 SqFt
7667 Chisholm Avenue, Van Nuys, CA, 91406	$990,000	4	2	--
15513 Cohasset Street, Van Nuys, CA, 91406	$869,000	3	2	1,299	1,299 SqFt
15337 Lemay Street, Van Nuys, CA, 91406	$1,550,000	6	4	2,680	2,680 SqFt
15556 Valerio, Van Nuys, CA, 91406	$1,100,000	3	3	1,860	1,860 SqFt
6448 Peach Avenue, Van Nuys, CA, 91406	$1,440,000	4	3	3,044	3,044 SqFt
7524 Haskell, Van Nuys, CA, 91406	$3,700,000	--	--	11,795	11,795 SqFt
15455 Vanowen, Van Nuys, CA, 91406	$2,750,000	--	--	8,238	8,238 SqFt

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ByOwner last updated this listing 06/06/2026 @ 13:00

MLS: 26658831 LISTED BY: Neema Ahadian, Marcus & Millichap 310-909-5500 SOURCE: CRMLS