$5,300,000
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14687 Rayen Street Panorama City, CA 91402
Cluster
Residence
42
Beds
40
Baths
...
Bed/Bath
20,829
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
***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 ar...e 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.
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MLS#
23331875
Property Type
Cluster
Bedrooms
42
Bathrooms
Year Built
1964
Square Feet
20,829
sq. ft
Lot Size
0.53
Stories
2.0
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
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