diff --git a/netbox/ipam/api/nested_serializers.py b/netbox/ipam/api/nested_serializers.py
index b3ac4eac0..0589998e4 100644
--- a/netbox/ipam/api/nested_serializers.py
+++ b/netbox/ipam/api/nested_serializers.py
@@ -6,7 +6,7 @@ from ipam import models
 from ipam.models.l2vpn import L2VPNTermination, L2VPN
 from ipam.validators import validate_ipaddress_with_mask
 from netbox.api.serializers import WritableNestedSerializer
-from netaddr import IPNetwork
+from netaddr import AddrFormatError, IPNetwork
 
 __all__ = [
     'IPAddressField',
@@ -48,7 +48,12 @@ class IPAddressField(serializers.CharField):
         self.validators.append(validator)
 
     def to_internal_value(self, data):
-        return IPNetwork(data)
+        try:
+            IPNetwork(data)
+        except AddrFormatError:
+            raise serializers.ValidationError("Invalid IP address format: {}".format(data))
+        except (TypeError, ValueError) as e:
+            raise serializers.ValidationError(e)
 
     def to_representation(self, value):
         return str(value)