14245 Roscoe Boulevard Pending Save Request In-Person Tour Request Virtual Tour
Panorama City (los Angeles),CA 91402
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 4,644 sqft
Price per Sqft $258
MLS Listing ID CL24470653
HOA Y/N No
Year Built 1951
Lot Size 8,702 Sqft
Acres 0.2
Property Sub-Type Other
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
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Community Facility,Laundry Room
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 2638026010