[2] On November 2, 2007, the Los Angeles City Council approved a motion renaming a large portion of Van Nuys to Lake Balboa.

The new boundaries are as follows:[1] Lake Balboa is flanked on the north by Northridge, on the east by Van Nuys, on the south by the Sepulveda Basin and on the west by Reseda.

[2] MGA Entertainment, a toy maker, previously had its headquarters in the Lake Balboa area, before moving to Chatsworth in the NW San Fernando Valley.

[16] The United States Postal Service Van Nuys Post Office is located at 15701 Sherman Way in Lake Balboa.

[1][17] Twenty-five percent of Lake Balboa residents aged 25 and older had earned a four-year degree by 2000, an average figure for both the city and the county.