14687 Rayen Street

Panorama City, CA 91402

  • 42 Bed(s)
  • 0 Bath(s)
  • 20,829 Sqft
  • 23133
    Sqft(Lot)
$5,300,000

Description

***huge price reduction***vacant 2+2 unit leased at $2,550*** in-place 6.31% cap rate, 10.18 grm***18 (2+2) 2 (3+2) units in panorama city. property is located in panorama city, the next multifamily hotspot. there are big changes going on near panorama city and north hills. primestor and the city are planning a major development called the "panorama city center". this massive development will offer over 5 million square feet of multi-family, retail, restaurants, entertainment, fitness, office, and medical. basically, a walking city. this adds to other current and future huge developments being planned in the area. izek shomof has already converted the panorama tower, previously an office building, into 194 luxury residential apartments and due it's success, is now planning on building another 200 apartments w/ retail right next door. we believe these major investments are due to the upcoming light rail transit line on van nuys blvd. transit lines have been proven to change neighborhoods, sometimes increasing rents 25-67%. large developers know this and build accordingly. these transformative large developments further change the neighborhoods. nearby property owners receive the benefits. call us, we can help you profit from this. the next multifamily hotspot echoing the success of north hollywood and korea town | less than 1/2 mile from the coming van nuys light rail, new public transit stops drive up nearby rental prices 25% - 60% | 1/2 a mile to the future panorama city center, a 5,000,000 sq ft transportation oriented development sure to transform the neighborhood | new developments change neighborhoods, additional significant developments are planned in the area by major developers | 80% 2 bedroom 2 bath, 20% 3 bedroom 2 bath | all units have nice kitchens, kitchen cabinets, flooring and bathrooms | potential to add an adu without losing parking (buyer to confirm) | contact us for an om.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    45830798

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Property Details

  • Bedroom Information

    • Total Bedrooms : 42

    Bathroom Information

    • Total Baths: 40
    • Full Baths: 0
    • Half Baths: 0

    Heating Source

    • Wall Furnace
    • Has Heating

  • Building Information

    • Year Built: 1964
    • Building Area Total: 20,829

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.5311
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 23133

  • Listing Price Information

    • Original List Price: 5,300,000
    • Listing Contract Date: 2023-11-14

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 2651011030

  • Garage and Parking

    • Garage Description: Attached Carport
    • Attached Garage: Yes

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Closed
    • Source Neighborhood: PC - Panorama City
    • Postal Code Plus 4: 2048
    • Directions: West of Van Nuys Blvd., South of Nordhoff St, North of Parthenia St, East of Willis Ave
    • Zoning: LAR3
    • Source Property Type: Residential Income
    • Area: PC - Panorama City

    Building and Construction

    • Property Age: 60
    • Year Built Source: Assessor
    • Total Square Feet Living: 20829
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 11/21/2024 @ 16:51

  • MLS: 23331875
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 42 bedrooms which is for sale, it has 20,829 sqft, 23,133 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Panorama City , in zip code 91402, this Los Angeles County Home are nearby neighborhoods.