6 Units @ 6.11% CAP & 10.49 GRM & 30% Rental Upside

14245 Roscoe, located just east of Van Nuys Blvd, 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.