7900 Willis Avenue, Panorama City, CA 91402

  • $3,395,000
  • $246
7900 Willis Avenue, Panorama City, CA 91402
  • Residential Income
  • Property Type
  • 0.00
  • Garage
  • 1953
  • Year Built
For Sale
7900 Willis Avenue, Panorama City, CA 91402
  • $3,395,000
  • $246

Overview

Property ID: SGR-33474753
  • Residential Income
  • Property Type
  • 0.00
  • Garage
  • 1953
  • Year Built

Description

These three adjacent properties on Willis Avenue in Panorama City have incredible potential. First, there is tremendous upside in rents with a projected 7.37 GRM and approximately a 10% cap rate based on market rents. Additionally, at $141,500 per unit, this is well below comparable sales given the sheer upside in rents. In addition, the property sits on 36,600 square feet of R3 zoned land with a Tier 3 TOC (70% bonus) allowing for up to 78 units to be developed.

  • Address 7900 Willis Avenue
  • City Panorama City
  • State/county CA
  • Zip/Postal Code 91402
  • Area PC - Panorama City
  • Country United States

Details

Updated on August 11, 2024 at 7:31 am
  • Property ID: SGR-33474753
  • Price: $3,395,000
  • Land Area: 36600.00 m²
  • Garage: 0.00
  • Year Built: 1953
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 13824.00
  • MLS#: SR24163292
  • Office Name: LEE & ASSOCIATES
  • Agent Name: Warren Berzack
  • MLS Status: Active
  • Living Area Prefix: Sqft
  • Agent State License: 01329015
  • IDX Contact Info: 818-269-2979

Additional details

  • Sewer: Public Sewer
  • County: Los Angeles
  • Property SubType: Apartment
  • Parking: 40.00
  • Water Source: Public

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