14758 Blythe Street

    Panorama City, CA 91402
    • $885,000
    • STATUS: Active Under Contract
    • ON SITE: 126 days
    • ID#: 18372510
    Under Contract
    UPDATED: 37 min ago
    $885,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,344
      SQFT
    • $265
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1955
    County:

    School Ratings & Info

    Description

    We are pleased to present a 5 unit apartment building located in Panorama City. The well-kept garden style building has great curb appeal and each unit has been remodeled with wood or wood laminate floors. Based on increasing rental rates in the area, the property has great upside and represents a major value-add and easy re-positioning opportunity. By simply turning over units and renovating them, a savvy investor can achieve market rents of $1,550 for one bedrooms and $1,800 for two bedrooms. This equates to 47% of potential rental upside. The offering consists of a 5 unit building with an attractive unit mix consisting of 4: 1 Bed + 1 Bath and 1: 2 Bed + 1 Bath. The building has a pitched roof and 5 covered parking spaces. Each unit has its own gas water heater, and tenants pay for their own gas and electricity. The property is situated on a 9,153 sq. ft. corner lot and has immense redevelopment potential, with the ability to build up to 17 new units.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-11T17:30:14.01. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/86311266

    14758 Blythe Street Panorama City, CA 91402

    • Price: $885,000
    • Status: Active Under Contract
    • Updated: 37 min ago
    • ID#: 18372510
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    3,344
    SQFT
    $265
    $/SQFT
    1955
    Built
    Neighborhood:
    PC - Panorama City
    County:
    Los Angeles
    Area:
    PC - Panorama City
    Property Description
    We are pleased to present a 5 unit apartment building located in Panorama City. The well-kept garden style building has great curb appeal and each unit has been remodeled with wood or wood laminate floors. Based on increasing rental rates in the area, the property has great upside and represents a major value-add and easy re-positioning opportunity. By simply turning over units and renovating them, a savvy investor can achieve market rents of $1,550 for one bedrooms and $1,800 for two bedrooms. This equates to 47% of potential rental upside. The offering consists of a 5 unit building with an attractive unit mix consisting of 4: 1 Bed + 1 Bath and 1: 2 Bed + 1 Bath. The building has a pitched roof and 5 covered parking spaces. Each unit has its own gas water heater, and tenants pay for their own gas and electricity. The property is situated on a 9,153 sq. ft. corner lot and has immense redevelopment potential, with the ability to build up to 17 new units.
    Exterior Features

    Lot Size Dimensions 61X150 Parking Features Covered Parking Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.67 Gross Multiplier 13.56 Gross Operating Income 63313.00 Improvements Amount 77895 Land Value 116844 Laundry YN Yes Net Operating Income 43445.00 Special Listing Conditions Standard Total Expenses 19868.00 Zoning Lar3

    Listing provided courtesy of Jon Emrani of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-11T17:30:14.01. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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