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Ryan Court 14696 Rayen St 27 Unit Apartment Building $4,880,000 ($180,741/Unit) 7% Cap Rate Panorama City, CA 91402
INVESTMENT HIGHLIGHTS
- Strong Rental Demand Location
- 32% Upside on Rent
- New Roof Completed in 2024
- Major 2-bedroom Units
- Seismic Retrofitting Completed
- SCEP PASSED
EXECUTIVE SUMMARY
We are pleased to present the opportunity to acquire a 27-unit value-add multifamily, located in Panorama City. Built in 1964, the subject property is located at one of the most desirable rental markets in San Fernando Valley, and it offers an excellent unit mix with the majority of the 2-bedroom units. Selected units are renovated. The ownership has completed the seismic retrofitting. The roof was replaced in 2024. SCEP PASSED.
PROPERTY FACTS
| Price | $4,880,000 | Building Class | C |
| Price Per Unit | $180,741 | Lot Size | 0.53 AC |
| Sale Type | Investment | Building Size | 19,742 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.9 | No. Stories | 2 |
| No. Units | 27 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.36/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3, Panorama City - Restricted Density Multiple Dwelling Zone | ||
| Price | $4,880,000 |
| Price Per Unit | $180,741 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 8.9 |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 19,742 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.36/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Panorama City - Restricted Density Multiple Dwelling Zone |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Disposal
- Heating
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 500 |
| 1+1 | 7 | - | 600 |
| 2+2 | 18 | - | 700 |
| 3+1 | 1 | - | 900 |
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 2653-003-005 | Improvements Assessment | $2,181,899 |
| Land Assessment | $3,272,850 | Total Assessment | $5,454,749 |
PROPERTY TAXES
Parcel Number
2653-003-005
Land Assessment
$3,272,850
Improvements Assessment
$2,181,899
Total Assessment
$5,454,749
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Ryan Court | 14696 Rayen St
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