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    14949 Roscoe Blvd

    Panorama City, CA 91402
    • $6,300,000
    • STATUS: Active
    • ON SITE: 60 days
    • ID#: 20-610936
    Price Reduced
    UPDATED: 40 min ago
    $6,300,000
    • 39
      BEDS
    • 0.49
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,922
      SQFT
    • $396
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1979
    County:

    School Ratings & Info

    Description

    Built in 1979 and not subject to the Los Angeles Rent Stabilization Ordinance, the property is located on a large 21,154 SF lot in the heart of the Valley in a neighborhood with consistent population growth and rising rental submarket. The two-story building currently features 25 units but will be delivered 100% vacant with approved plans and permits for 17-unit conversions, six additional ADUs and restriped parking. This offering presents an investor the opportunity to reposition the building immediately upon the close of escrow. After renovations and conversions, the unit mix will consist of 12 one-bedrooms, 12 two-bedrooms, one three-bedroom, four single ADUs and two one-bedroom ADUs. The ADUs will be constructed from current parking garages at the rear of the building into spacious units with singles ranging from581-588 SF and one-bedrooms between 478-505 SF. The new configuration of parking will include 42 total parking spaces with 26 standard spaces and 16 compact tandem spaces..

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-28T07:42:34.173. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/108340537
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    14949 Roscoe Blvd Panorama City, CA 91402

    • Price: $6,300,000
    • Status: Active
    • Updated: 40 min ago
    • ID#: 20-610936
    39
    Beds
    0
    Baths
    0
    ½ Baths
    0.49
    Acres
    15,922
    SQFT
    $396
    $/SQFT
    1979
    Built
    Neighborhood:
    Panorama City
    County:
    Los Angeles
    Area:
    Panorama City
    Property Description
    Built in 1979 and not subject to the Los Angeles Rent Stabilization Ordinance, the property is located on a large 21,154 SF lot in the heart of the Valley in a neighborhood with consistent population growth and rising rental submarket. The two-story building currently features 25 units but will be delivered 100% vacant with approved plans and permits for 17-unit conversions, six additional ADUs and restriped parking. This offering presents an investor the opportunity to reposition the building immediately upon the close of escrow. After renovations and conversions, the unit mix will consist of 12 one-bedrooms, 12 two-bedrooms, one three-bedroom, four single ADUs and two one-bedroom ADUs. The ADUs will be constructed from current parking garages at the rear of the building into spacious units with singles ranging from581-588 SF and one-bedrooms between 478-505 SF. The new configuration of parking will include 42 total parking spaces with 26 standard spaces and 16 compact tandem spaces..
    Exterior Features

    Exterior Construction BrickStucco Lot Description 2-4 Lots Lot Location Corner LotStream Lot Size Area 27660 Other Structures None Parking Garage Driveway Roof Flat Total Parking 42 Water Frontage Stream

    Interior Features

    Baths Total 32.00 Cooling Other Equipment Ceiling Fan Flooring Hardwood Heating Other Laundry Laundry Area

    Property Features

    ADACompliance Yes Assessed Total Value 2597424 Gross Income 679800 Gross Operating Income 625416 Like Units1 4 Like Units2 2 Like Units3 12 Like Units4 12 Like Units5 1 Net Operating Income 447095.00 Number Of Buildings 1 Number Of Units 31 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Other Total Annual Expense 178321 Type Of Units Apartments Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-28T07:42:34.173. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377