6.11% CAP & 10.49 GRM w/ 30% Rental Upside | 14245 Roscoe Blvd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
6.11% CAP & 10.49 GRM w/ 30% Rental Upside 14245 Roscoe Blvd
6 Unit Apartment Building $1,200,000 ($200,000/Unit) 6.11% Cap Rate Van Nuys, CA 91402
INVESTMENT HIGHLIGHTS
- 14245 Roscoe is a 6-unit value-add complex located 0.3 mile from Panorama Mall and 1 mile from The Plant Shopping Center.
- Value-add opportunity with approx. 31% rental upside, 8.86% CAP and 8.09 GRM by achieving projected market rents for renovated units in the area.
- Can be purchased in conjunction in 8135 Reseda Blvd, a 10-unit complex not subject to local rent control and located across from Northridge Hospital.
- Comprised of (3) 2-bdrm. units and (3) 1-bdrm. units that are offered at $200K per unit, $258 per foot, 6.11% CAP and 10.49 GRM on current rents.
- Property amenities include gated parking with approx. 8 parking spaces and a sizeable yard for the front units.
EXECUTIVE SUMMARY
Located just east of Van Nuys Blvd, 14245 Roscoe is a 6-unit value-add complex located 0.3 mile from Panorama Mall and 1 mile from The Plant Shopping Center. Primestor Development, which owns Panorama Mall (20-acre shopping center) plans to redevelop the property with approx. 4.5 million SF of residential, hotel, and other commercial uses. Pending approvals, Primestor would redevelop the mall in 4 phases over 20 years. The complex is comprised of (3) 2-bdrm. units and (3) 1-bdrm. units, and is offered at $200,000 per unit, $258 per foot, and 6.11% CAP & 10.49 GRM on current rents. This value-add opportunity presents approx. 30% rental upside, and a future investor can reach an 8.86% CAP and 8.09 GRM, by achieving projected market rents for renovated units in the area. Property amenities include gated parking with approx. 8 parking spaces and a sizeable yard for the front units. For those seeking additional opportunities, this property can be purchased individually or alongside 8135 Reseda, a 10-unit complex not subject to local rent control (1981), and offers approx. 25% rental upside, and is located across the street from Northridge Hospital. Please email or call Kenny Stevens for more info.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS In Escrow
| Price | $1,200,000 | Apartment Style | Low Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.11% | Building Size | 4,644 SF |
| Gross Rent Multiplier | 10.49 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | Parking Ratio | 1.72/1,000 SF |
| Price | $1,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.11% |
| Gross Rent Multiplier | 10.49 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,644 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 1.72/1,000 SF |
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | $1,850 | - |
| 1+1 | 3 | $1,330 | - |
1 of 1
Walk Score®
Very Walkable (75)
ZONING
| Zoning Code | R3 |
| R3 |
1 of 8
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
6.11% CAP & 10.49 GRM w/ 30% Rental Upside | 14245 Roscoe Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.