Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 20951 Roscoe Boulevard, a 34-unit apartment community located in the Canoga Park submarket of the San Fernando Valley. Originally built in 1963, current ownership has completed renovations on 15 of the 34 units and has been achieving $200 to $300 premiums over unrenovated units at the property. Investors will have the opportunity to follow a proven value-add strategy and capture approximately 21 percent upside in rental income by renovating the remaining 19 units.
Centrally located in the Western San Fernando Valley, 20951 Roscoe Boulevard provides residents with excellent accessibility to employment, area amenities, and transportation options. The property is approximately five minutes north of Warner Center, a major employment center with 10 million square feet of office and industrial space, which has been rated an A+ by AreaVibes for area amenities. In addition, 20951 Roscoe Boulevard is adjacent to a stop on the Metro Orange Line and is in close proximity to several major thoroughfares and freeways. Given the excellent submarket fundamentals, the quality of the asset, and the proven value-add strategy, 20951 Roscoe Boulevard is well positioned to provide strong returns for investors over the hold period.
