13724 Victory Blvd

Highlights:

• Built in 2022 - Modern 68-unit podium construction with gated parking, elevator service, no deferred maintenance and no seismic retrofit exposure.
• Outside LARSO - The property sits outside the Los Angeles Rent Stabilization Ordinance, with an AB 1482 exemption through February 2037.
• Below Replacement Cost - Offered at $342.83 per square foot, below the cost of developing comparable new construction today.
• Full Amenity Package - Landscaped rooftop deck, resident lounge and co-working office, fitness center, private balconies and patios, in-unit laundry, and 27 EV charging stations.

Description:

The LAAA Team of Marcus & Millichap is pleased to present V on Victory, a 68 unit apartment community completed in 2022 at 13724 Victory Blvd in Valley Glen. Four residential floors rise over a gated podium garage, elevator served, with 66,796 gross square feet on a 24,749 square foot lot. The unit mix is 40 one bedrooms, 16 two bedrooms and 12 three bedrooms averaging 832 rentable square feet, crowned by a penthouse level.

The asset is professionally managed with full on site staffing and an amenity package that includes a landscaped rooftop deck, a furnished lounge, a fitness center, a co-working office and controlled access. Every residence carries an in unit washer and dryer, utility recovery is implemented through a RUBS program, and vacant residences carry the manager's posted market rents, handing a buyer immediate lease up income with no renovation capital.

By its 2022 vintage the Property sits outside the Los Angeles Rent Stabilization Ordinance and outside the AB 1482 state rent caps through February 2037, leaving 64 of its 68 residences with no rent ceiling for the next eleven years. It also sits inside a federally designated Opportunity Zone, and its assessed value on the current county roll tracks the offering closely enough that reassessment is effectively neutral.