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$1,200,000
Est. payment /mo
9 Beds
6 Baths
4,644 SqFt
UPDATED:
12/19/2024 05:53 AM
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
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Listed by Kenny Stevens • Compass