14949 Roscoe Blvd, Panorama City, CA 91402

Built in 1979 and not subject to the Los Angeles Rent Stabilization Ordinance, the property is located on a large 21,154 SF lot in the heart of the Valley in a neighborhood with consistent population growth and rising rental submarket. The two-story building currently features 25 units but will be delivered 100% vacant with approved plans and permits for 17-unit conversions, six additional ADUs and restriped parking. This offering presents an investor the opportunity to reposition the building immediately upon the close of escrow. After renovations and conversions, the unit mix will consist of 12 one-bedrooms, 12 two-bedrooms, one three-bedroom, four single ADUs and two one-bedroom ADUs. The ADUs will be constructed from current parking garages at the rear of the building into spacious units with singles ranging from581-588 SF and one-bedrooms between 478-505 SF. The new configuration of parking will include 42 total parking spaces with 26 standard spaces and 16 compact tandem spaces..