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Terraces at the Lake offers modern living with open floor plans, private balconies, updated stainless steel appliances, and in-unit washer and dryer, supported by a detailed listing with 28 photos for clear expectations. With an overall expert rating of 8.5/10 and standout scores for price (9/10), amenities (10/10), location (9/10), and trustworthiness (8/10), it delivers strong value and convenience, including proximity to top-rated schools. The property is also highlighted for pet friendliness, with multiple nearby pet services, supply stores, and a dog park.
Things you’ll love
High school nearbyMiddle school nearbyImages AvailableGreat for
Pet owners| 1BR/1.0BA | 1 bed | 1 bath | 615+ sqft | $2,350–$2,595 /mo | 4 units available | Available NOW - ask about our MOVE-IN SPECIAL! 3rd & top floor, lots of natural light. 15-foot high ceilings in the living room. Going through total renovation! Full kitchen with stainless steel appliances In-Unit Washer & Dryer Be the first to move in to one of our spacious, newly-renovated 1 bedroom, 1 bath apartment in 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. NEWLY-RENOVATATED APARTMENT FEATURES: - Hardwood flooring throughout - Recessed lighting - Bathroom features built-in Bluetooth speaker which syncs to most smartphones - Brand new quartz countertops - Industrial stainless kitchen faucet - Stainless steel gas stove, microwave, dishwasher - Brand new subway tiling - 4 inches crown & base molding throughout - Oversized windows - Spacious balcony - Freshly-painted - An in unit high-end washer dryer combo - Private unit facing tree-lined street - Convenient USB outlets COMMUNITY AMENITIES - Sparkling plunge pool - On-site laundry - Secured parking for one vehicle - Ample street parking for guests ***PETS allowed with deposit*** **PLEASE NOTE: Explication images may not be of the exact but comparable unit. * Price shown is base rent and may not include non-optional fees and utilities. *Price and availability is subject to change without notice. * Square footage definitions vary. Displayed square footage is approximate. |
Let's explore this property.
Appliances
| Dishwasher | Garbage Disposal |
| In-Unit Laundry | Microwave |
| Refrigerator | Stove/Range |
| Washer and Dryer |
Building
| Cats OK | Dogs OK |
| EV Charging |
Grounds
| Assigned Parking | Swimming Pool |
One-time.
One-time. Refundable.
Assigned Parking
Contact for more information on pet policy.
Questions about this property’s policies and fees?
| Units | 49 |
|---|
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.
How Terraces at the Lake compares to other nearby properties.
Positives
Considerations
1-bedroom apartments at Terraces at the Lake cost about 27% more than the average rent price for 1-bedroom apartments in Lake Balboa.
| Month | Median Rent |
|---|---|
| June 2024 | $1,778 |
| July 2024 | $1,816 |
| August 2024 | $1,848 |
| 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 |
| Month | Median Rent |
|---|---|
| June 2024 | $1,695 |
| July 2024 | $1,625 |
| August 2024 | $1,857 |
| 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 | $1,542 |
Can I afford to live at 16550 Vanowen St?
Bedrooms
1 bedroomRent-to-income ratio
30%
$94,000/yr
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