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15200 Roscoe Boulevard

Panorama City, CA 91402

$1,249,500

List Price

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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.

Listing Information

List Price $1,249,500
Status Active
MLS 24446009
Type Land
Lot Size 7,423
Structure Size N/A
DOM 22
Courtesy Of Keller Williams Realty Westside
Listing Agent Eliza Kerndian DRE#01398836
Co-Listing Agent Mona Kerendian DRE#01758802

Interior Features

Total Bedroom
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Exterior Information

Maps

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Listing information courtesy of: Eliza Kerndian, Mona Kerendian, Keller Williams Realty Westside 310-924-7244. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 31st, 2024 at 8:45 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.