14687 Rayen Street, Panorama City
Panorama City Home For Sale
***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 Details
Additional Information
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- City:
- Panorama City
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- County:
- Los Angeles
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- Zip:
- 91402
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- MLS® #:
- 23331875
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- Bedrooms:
- 5
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- Bathrooms:
- 4
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- Square Ft:
- 20,829
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- Lot Size:
- 0.53
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- Levels:
- Two
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- HOA Dues:
- $
Price Change History for 14687 Rayen Street, Panorama City, (MLS® #23331875)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Increased | $5,300,000 | $300,001 (6.00%) | |
| Price Reduced | $4,999,999 | $400,001 (7.41%) | |
| Price Increased (from $5,300,000) | $5,400,000 | $100,000 (1.89%) |
Based on information from California Regional Multiple Listing Service, Inc. as of July 30th, 2024 at 10:55am PDT. 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.