​

SALE PRICE: $4,400,000

​

Two-Story Medical Office Building​

​

Ethan Donel, Alex Reyhan, and Daniel Hirth of The Hirth Group are pleased to announce the successful closing of 14602 Victory Boulevard, Van Nuys, CA 91411! The subject property is a two-story medical office building. The building stands at ±15,691 SF of building on a ±12,983 SF hard corner lot with an additional parking lot in the rear of ±13,006 SF, totaling ±25,989 SF of land.

 

Our team, representing both the seller and the buyer, skillfully navigated market challenges and the dismal current income to attract a buyer through a targeted marketing strategy. Despite limited demand for large medical office spaces, our agents took an alternative approach and highlighted the property’s valuable underlying C2 and R3 zoning, coupled with its TOC Tier 4 designation. This zoning potential supports the development of up to 94 units in the vibrant Downtown Van Nuys area.

 

The Hirth Group is proud to serve clients in an advisory capacity. Over the past four years, our team collaborated closely with the seller to determine the best strategy for maximizing asset value and ensuring a seamless closing. Given the current tight financing environment, the seller sought an all-cash buyer, and our repeat client met this need perfectly, facilitating a smooth escrow process. This transaction represents another upcoming development in Van Nuys, a neighborhood undergoing notable growth, fueled by the anticipated new Light Rail Metro along Van Nuys Boulevard.

​