CA > Panorama City
Panorama City, CA 91402,15200 Roscoe BLVD
Panorama City, CA 91402,15200 Roscoe BLVD
Panorama City, CA 91402,15200 Roscoe BLVD
Panorama City, CA 91402,15200 Roscoe BLVD
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Michelle Esquivel

Michelle Esquivel

$ 1,249,500
Est. payment | /mo

7,422 Sqft Lot

Save
$ 1,249,500
Est. payment | /mo
Save

7,422 Sqft Lot

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

California Regional MLS (CRMLS)
Listed by Eliza Kerndian • Keller Williams Realty Westside
agent-avatar

michelle@michellehomesellingteam.com

515 S Myrtle Ave, Monrovia, CA, 91016, USA

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15200 Roscoe BLVD