Rubio Villas 7203 Rubio Ave 29 Unit Apartment Building $10,500,000 ($362,069/Unit) 5.40% Cap Rate Lake Balboa, CA 91406

The Neema Group of Marcus & Millichap is 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 finishes, 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 income 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 percent capitalization 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.