Closed Listing
6 Units @ 6.11% CAP & 10.49 GRM & 30% Rental Upside
14245 roscoe blvd
sold in
Panorama City
Sold At
$
950,000
6
Number of Units
1951
Year Built
4,644
SF
Square Footage
8,702 SF
SF
Lot Size
LAR3
Zoning
14245 Roscoe Blvd, Panorama City, CA 91402
About the Property
14245 Roscoe Blvd 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.
6
Number of Units
1951
Year Built
4,644
SF
Square Footage
8,702 SF
SF
Lot Size
LAR3
Zoning
Detailed Brochure on Real Estate Opportunities
Price P/ Unit
$158,333
Price p/ Sq. ft.
$205
Proforma Cap Rate
11.52%
Contact
Sales agent
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