$1,249,500
15200 Roscoe BLVD Panorama City, CA 91402
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$1,249,500
Est. payment /mo
7,422 Sqft Lot
UPDATED:
10/31/2024 08:45 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24446009
HOA Y/N No
Lot Size 7,422 Sqft
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 8 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 Pc - Panorama City
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N Yes
Building
New Construction No
Others
Senior Community No
Tax ID 2209005003
Special Listing Condition Standard
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Listed by Eliza Kerndian • Keller Williams Realty Westside