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$ 3,995,000
Est. payment /mo
New
14924 Roscoe BLVD Panorama City, CA 91402
29 Beds
23 Baths
13,422 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 13,422 sqft
Price per Sqft $297
MLS Listing ID 25621221
Bedrooms 29
HOA Y/N No
Year Built 1963
Lot Size 0.392 Acres
Property Description
We are pleased to present 14924 Roscoe Boulevard, a well-maintained 17-unit apartment community offering a strong in-place cap rate of approximately 6.1% at the asking price significantly above market for the San Fernando Valley. The property delivers immediate, reliable cash flow supported by long-term tenants, consistently full occupancy, and larger-than-average unit sizes that help anchor tenant stability. The building totals approximately 13,422 square feet on a 17,071-square-foot lot, featuring an attractive mix of three-bedroom, two-bedroom, one-bedroom, and studio units, with an average unit size of approximately 825 square feet substantially larger than the average rental unit for this submarket. One of the three-bedroom units is a two-story townhouse-style residence, offering excellent livability and a potential opportunity to reconfigure it into two separate units in the future (subject to buyer verification and city requirements). Residents benefit from a functional two-story design, well-maintained building systems, and individually metered gas and electric utilities. This is an exceptionally stable asset, supported by several core fundamentals:* Superior Tenant Retention: Larger unit sizes attract long-term renters and families who tend to stay multiple years.* Consistent 100% Occupancy: The property remains fully leased with gross monthly rents of $30,224, generating $362,691 in annual income, demonstrating consistent, predictable cash flow.* Above-Market Cap Rate: A 6.1% in-place cap rate is notably higher than prevailing cap rates for comparable assets in the San Fernando Valley, positioning this as a cash-flow-first investment with immediate yield.* Robust Surrounding Economic Drivers: The area offers strong employment and shopping options that consistently support rental demand. The location is another major strength. While situated within the broader North Hills East multifamily corridor, the property is just minutes from some of the San Fernando Valley's highest-traffic retail and employment nodes, including Panorama Mall (anchored by Target, Marshalls, Foot Locker, and over 50 in-line retailers) and Roscoe Plaza, which includes high-performing national tenants. The surrounding area features El Super, Kaiser Permanente's 474-bed regional medical center, In-N-Out, Starbucks, Vons, Smart & Final, national banks, pharmacies, casual and full-service restaurants, and numerous service-oriented businesses. Transit access via the 405 and 118 freeways, the Metro Orange Line, and major bus routes provides excellent mobility for renters. With its above-market in-place cap rate, oversized units, rare townhouse-style three-bedroom layout with conversion potential, and proven operational stability, 14924 Roscoe Boulevard represents a reliable, cash-flowing investment offering long-term stability and attractive value-add upside in a high-demand pocket of the San Fernando Valley.
Location
State CA
County Los Angeles
Area Pc - Panorama City
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Pool None
Total Parking Spaces 12
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 2210003060
Special Listing Condition Standard
Listed by Oron Maher Maher Commercial Realty