14245 Roscoe Blvd Active Save Request In-Person Tour Request Virtual Tour
Panorama City,CA 91402
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,644 sqft
Price per Sqft $258
MLS Listing ID 24-470653
Bedrooms 9
Year Built 1951
Lot Size 8,702 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 Panorama City
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall, Other
Cooling Wall/Window
Equipment Other
Laundry Community, Room
Exterior
Parking Features Gated
Garage Spaces 8.0
View Y/N No
View None
Building
Story 1
Level or Stories Two
Others
Special Listing Condition Standard