Homes for sale - 14245 Roscoe BLVD, Panorama City, CA 91402

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Yosef Adde

yosef@adde.la +1(310) 363-7362

$ 1,200,000

Est. payment | -/mo

9 Beds

6 Baths

4,644 SqFt

Save

$ 1,200,000

Est. payment | -/mo

Save

9 Beds

6 Baths

4,644 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,644 sqft

Price per Sqft $258

MLS Listing ID 24470653

Bedrooms 9

HOA Y/N No

Year Built 1951

Lot Size 8,703 Sqft

Property Description

Located just east of Van Nuys Blvd, 14245 Roscoe is a 6-unit value-add complex located 0.3 mile from Panorama Mall and 1 mile from The Plant Shopping Center. Primestor Development, which owns Panorama Mall (20-acre shopping center) plans to redevelop the property with approx. 4.5 million SF of residential, hotel, and other commercial uses. Pending approvals, Primestor would redevelop the mall in 4 phases over 20 years. The complex is comprised of (3) 2-bdrm. units and (3) 1-bdrm. units, and is offered at $200,000 per unit, $258 per foot, and 6.11% CAP & 10.49 GRM on current rents. This value-add opportunity presents approx. 30% rental upside, and a future investor can reach an 8.86% CAP and 8.09 GRM, by achieving projected market rents for renovated units in the area. Property amenities include gated parking with approx. 8 parking spaces and a sizeable yard for the front units. For those seeking additional opportunities, this property can be purchased individually or alongside 8135 Reseda, a 10-unit complex not subject to local rent control (1981), and offers approx. 25% rental upside, and is located across the street from Northridge Hospital. Please email or call LA1 for more information.

Location

State CA

County Los Angeles

Area Pc - Panorama City

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area, Laundry Room

Exterior

Parking Features Gated

Community Features Gated

View Y/N No

View None

Total Parking Spaces 8

Building

Faces South

Story 1

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2638026010

Security Features Gated Community

Special Listing Condition Standard

Listed by Kenny Stevens • Compass

"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(310) 363-7362

yosef@adde.la

Serving the South Bay Los Angeles

14245 Roscoe BLVD Panorama City, CA 91402