15200 Roscoe Blvd Panorama City, CA 91402

This property is a Tier 2 development site suitable for townhome-style, ED1, or multifamily construction. Ready-to-Issue (RTI) plans are fully approved, allowing for immediate construction of an ED1 plan featuring 17 affordable housing units. The Type VA building will be approximately 12,915 square feet, three stories, and requires no parking or demolition fees. The estimated build cost is approximately $2.1 million, with a unit mix of nine 2-bed units and eight 1-bed units. Projected pro forma rents of $34,069 per month ($408,828 per year) support a potential completed valuation of approximately $5,682,000, with an estimated $2,000,000 profit margin. Additional space is available for a leasing/management office or an optional Accessory Dwelling Unit (ADU). The property also qualifies for SB684, allowing an alternate plan of 10 townhomes plus 10 ADUs. The lot offers multiple profitable pathways and flexibility depending on the builder's preferred business model. The property is located minutes from Noble Ave Early Education Center, Noble Ave Elementary, Vista Middle School, Panorama High School, Walmart, and Mission Community Hospital, providing access to schools, retail, transit, and major employment centers. The site is located in Panorama City, CA, and has a lot size of 0.1704 acres. The zoning is LAR3. This property presents an opportunity to deliver quality housing while achieving financial returns.