$1,249,500
15200 Roscoe Blvd Panorama City, CA 91402
Save Share
Schedule a Tour
4
See all 4 photos
$1,249,500
Est. payment /mo
7,423 Sqft Lot
Active
15200 Roscoe Blvd Panorama City, CA 91402
UPDATED:
10/17/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-446009
Lot Size 7,423 Sqft
Acres 0.1704
Property Description
This ready-to-issue (RTI) project offers an excellent chance to Develop 17 Affordable Housing units, Type VA construction, three story on-grade with a total area of 12,915 sqft, no parking, very low cost construction estimated at $2,100,000. Great Mix of units, 9 X 2 bedroom and 6 X 1 bedroom, Proforma monthly rent $34,069 or yearly $ 408,828 which will bring the value of the property around $5,682,000 with GRM 13.9 providing around $2,000,000 profit potential on the Development, price per unit of $334,000 resale value. Additional space possible for Leasing/Management office or ADU. Conveniently located close to public transportation, offering easy access to entertainment and events providing recreational opportunities for future residents, start construction immediately, saving time and reducing the hassle of lengthy approval processes. This project presents a unique opportunity to contribute positively to the community by providing much-needed affordable housing, addressing a critical need in Los Angeles. The city's incentives for affordable housing projects enhance the viability and potential returns on this investment. Los Angeles has a significant demand for affordable housing, ensuring a strong market for these units and benefiting from the long-term appreciation potential in one of the most sought after real estate markets in the country. This offering is priced to sell! No Demo fee required.
Location
State CA
County Los Angeles
Area Panorama City
Zoning LAR3
Exterior
View Y/N Yes
View Any, Other
Others
Special Listing Condition Standard
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Keller Williams Realty Westside
GET MORE INFORMATION
