Updated 5+ Days Ago
Location
16550 Vanowen St, Lake Balboa, CA 91406, USA|Lake Balboa
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Property Overview
Terraces at the Lake earns a strong overall rating with standout scores for price, amenities, and location, suggesting solid value and convenient access to nearby points of interest. Its notable feature is proximity to golf courses, and the listing includes 28 photos plus nearby top-rated middle and high schools within short distances.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
High school nearby- Middle school nearby
- Dishwasher
Great for
Pet owners
Floor plans
| 2BR/2.0BA | 2 bed | 2 bath | 850 sqft | $2,800–$3,200 /mo | 2 units available | This is the one you have been waiting for. A two bedroom, two bath home with something almost impossible to find in this market: your own 510 square foot private patio, with a big beautiful view of the Santa Monica Mountains looking out over Sherman Oaks and Encino. Add the patio to the 850 square feet indoors and you have 1,360 square feet of total living space to make your own. Picture morning coffee in the sun, dinners outdoors on warm evenings, and a plunge pool to cool off in on hot afternoons. There is room for the grill, the garden, and the lounge chairs. If you have a dog, this is their backyard. If you have kids, this is where they play. If you love being outside, this is where you will spend your best hours, with the mountains in front of you. Inside, two full bedrooms, two full bathrooms, and your own in-unit washer and dryer. Comfort indoors, freedom outdoors. The building matches the home. You get secure, designated indoor parking, EV charging in the garage, parcel lockers that keep your deliveries safe, and an elevator, all in a well-maintained property that is cared for the way it should be. Homes like this do not come around often. The patio, the plunge pool, and the view set it apart from anything else on the market. Schedule your showing today before someone else claims it. |
Let's explore this property.
Amenities for Terraces at the Lake
Appliances
| Dishwasher | In-Unit Laundry |
| Microwave | Refrigerator |
| Stove/Range | Washer and Dryer |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Building details
Property details
| Units | 51 |
|---|
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About Terraces at the Lake
Enjoy a connected Valley lifestyle near the best of Encino and Sherman Oaks while coming home to the comfort and space of Lake Balboa. Within minutes, residents can explore Ventura Boulevard’s restaurants, cafés, shopping, and nightlife, including the Sherman Oaks Galleria and Encino Commons. For outdoor living, the one mile away, Sepulveda Basin Recreation Area and Lake Balboa Park offer miles of bike paths, jogging trails, golf courses, and some of the most enjoyable green space in Los Angeles.
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Terraces at the Lake is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Terraces at the Lake has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·9A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Terraces at the Lake stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Terraces at the Lake goes above and beyond to provide sought-after conveniences and desirable perks, including dishwasher. Renters looking for popular or luxurious features will find them here—and for that reason, Terraces at the Lake receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Terraces at the Lake is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Terraces at the Lake does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
Terraces at the Lake is great for:
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How Terraces at the Lake compares to other nearby properties.
Positives
- High school nearby
- There is a high school 0.4 mile away
- Middle school nearby
- There is a middle school 1 mile away
- Dishwasher
- Dishwasher available in kitchen
- Images Available
- There are at least 10 photos of this address
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Rent trends in Lake Balboa
2-bedroom apartments at Terraces at the Lake cost about 14% more than the average rent price for 2-bedroom apartments in Lake Balboa.
Median rents as of Aug 15 2026.
Lake Balboa
Los Angeles
| Month | Median Rent |
|---|---|
| August 2024 | $1,850 |
| September 2024 | $1,848 |
| October 2024 | $1,801 |
| November 2024 | $1,814 |
| December 2024 | $1,845 |
| January 2025 | $1,848 |
| February 2025 | $1,815 |
| March 2025 | $1,810 |
| April 2025 | $1,756 |
| May 2025 | $1,745 |
| June 2025 | $1,750 |
| July 2025 | $1,750 |
| August 2025 | $1,736 |
| September 2025 | $1,702 |
| October 2025 | $1,702 |
| November 2025 | $1,709 |
| December 2025 | $1,738 |
| January 2026 | $1,739 |
| February 2026 | $1,721 |
| March 2026 | $1,697 |
| April 2026 | $1,690 |
| May 2026 | $1,650 |
| June 2026 | $1,651 |
| July 2026 | $1,650 |
| August 2026 | $1,650 |
| Month | Median Rent |
|---|---|
| August 2024 | $1,938 |
| September 2024 | $1,981 |
| October 2024 | $1,667 |
| November 2024 | $1,650 |
| January 2025 | $1,631 |
| February 2025 | $1,640 |
| March 2025 | $1,635 |
| April 2025 | $1,543 |
| May 2025 | $1,686 |
| June 2025 | $1,715 |
| July 2025 | $1,742 |
| August 2025 | $1,666 |
| September 2025 | $1,679 |
| October 2025 | $1,689 |
| November 2025 | $1,695 |
| December 2025 | $1,750 |
| January 2026 | $1,677 |
| February 2026 | $1,643 |
| March 2026 | $1,665 |
| April 2026 | $1,601 |
| May 2026 | $1,561 |
| June 2026 | $1,562 |
| July 2026 | $1,533 |
| August 2026 | $1,523 |
Affordability calculator
Can I afford to live at 16550 Vanowen St?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$112,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $112,000 annually to afford this 2-bedrooms monthly rent price of $2,800.
For more information on rent affordability, visit our rent calculator.
Schools near Terraces at the Lake
Gault Street Elementary School
17000 gault st
lake balboa, CA, 91406
K-5Public
B-
Lokrantz Special Education Center
19451 wyandotte st
reseda, CA, 91335
K-12Public
Charles Leroy Lowman Special Ed & Career Transition Center
12827 saticoy st
north hollywood, CA, 91605
K-12Public
Burbank Unified Independent Learning Academy (Buila)
3715 allan ave
burbank, CA, 91505
K-12Public
B+
Las Virgenes Independent
4029 las virgenes rd
calabasas, CA, 91302
K-8Public
A
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Internet available near Terraces at the Lake
Getting around Lake Balboa near 16550 Vanowen St
Walking
6/10
Some shops and stores are within a few minutes.
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
6/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
4/10
Frequent public transit options are within walking distance.
Points of interest for 16550 Vanowen St, Lake Balboa
Groceries
8/10
At least one supermarket within a 15-minute walk
Shopping
6/10
Several shops within walking distance
Cafes
5/10
Some cafés within a few minutes’ walk
Restaurants
7/10
Variety of restaurants within a few minutes' walk
Primary schools
8/10
At least one elementary school within a 15-minute walk
High schools
8/10
At least one high school within a 15-minute walk
Parks
10/10
Exceptionally large amount of park space within a few minutes’ walk
Nightlife
4/10
Some bars within walking distance
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