15200 Roscoe Boulevard, Panorama City, CA 91402

Prime Development Opportunity in Los Angeles!This versatile R3-1 TOC Tier 2 lot offers exceptional potential for investors and developers seeking strong returns and flexibility in one of L.A.'s most active multifamily corridors. Two lucrative development paths are available: build 10 townhomes with 10 ADUs under SB684 for individual resale, or move forward with the (RTI) ED1-approved project to construct 17 affordable housing units ready for immediate execution.The approved Type VA construction plan features a three-story, 12,915 square foot building with no parking requirement, minimizing costs and streamlining construction. The estimated build cost is approximately $2,100,000, with an excellent unit mix of 9 two-bedroom and 8 one-bedroom units. Projected proforma rents total $34,069 per month ($408,828 annually), leading to an estimated completed property value of $5,682,000 (GRM 13.9) and a potential $2,000,000 profit margin.Additional space is available for a leasing or management … read more …