14732 Blythe Street

    Panorama City, CA 91402
    • $5,550,000
    • STATUS: Active
    • ON SITE: 56 days
    • ID#: 18346288
    UPDATED: 55 min ago
    $5,550,000
    • 0
      BEDS
    • 0.63
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 26,670
      SQFT
    • $208
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    This 27 unit building on Blythe is an opportunity for a new investor to acquire a property in a dense North Los Angeles location with tremendous value-add potential. The current ownership has begun a unit interior renovation program to unlock the income potential. To date, 5 of the 27 units or approximately 18.5% of the units have been renovated under this program and 40% rent upside remains to be captured through further unit renovations. Further, the potential for income generation continues to improve with average rents for two bedroom units exceeding $1,800 per month in the submarket. A new investor can simply follow the blueprint laid out by the current owners to capture the upside and increase the net operating income of the property. ---- All Two and Three Bedroom Units* Building Size of 26,670 Square Feet* Current Owners have Renovated 5 of the Units realizing premiums of 40% to in-place rents and 44% average return on costs* Currently 100% Occupied*

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-17T16:31:37.143. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/83806670

    14732 Blythe Street Panorama City, CA 91402

    • Price: $5,550,000
    • Status: Active
    • Updated: 55 min ago
    • ID#: 18346288
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.63
    Acres
    26,670
    SQFT
    $208
    $/SQFT
    1962
    Built
    Neighborhood:
    PC - Panorama City
    County:
    Los Angeles
    Area:
    PC - Panorama City
    Property Description
    This 27 unit building on Blythe is an opportunity for a new investor to acquire a property in a dense North Los Angeles location with tremendous value-add potential. The current ownership has begun a unit interior renovation program to unlock the income potential. To date, 5 of the 27 units or approximately 18.5% of the units have been renovated under this program and 40% rent upside remains to be captured through further unit renovations. Further, the potential for income generation continues to improve with average rents for two bedroom units exceeding $1,800 per month in the submarket. A new investor can simply follow the blueprint laid out by the current owners to capture the upside and increase the net operating income of the property. ---- All Two and Three Bedroom Units* Building Size of 26,670 Square Feet* Current Owners have Renovated 5 of the Units realizing premiums of 40% to in-place rents and 44% average return on costs* Currently 100% Occupied*
    Exterior Features

    Lot Size Units Square Feet

    Interior Features

    Cooling Wall Window Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.30 Gross Multiplier 12.97 Gross Operating Income 427821.00 Improvements Amount 2460000 Land Value 1640000 Laundry YN Yes Net Operating Income 238800.00 Special Listing Conditions Standard Total Expenses 176333.00 Zoning Lar3

    Listing provided courtesy of David Harrington of Matthews Retail Group, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-17T16:31:37.143. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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