7900 7910 Willis Avenue

Panorama City, CA 91402

$3,395,000

List Price

N/A

bed Beds

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shower Baths

N/A sqft

straighten / sqft

1953

calendar_month Built

Property 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.

Listing Information

List Price $3,395,000
Status Pending
MLS SR24163292
Type Residential Income
Subtype Apartment
Year Built 1953
Lot Size 36,600
Structure Size N/A
DOM 23
Courtesy Of Lee & Associates
Listing Agent Warren Berzack DRE#01329015

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

Listing information courtesy of: Warren Berzack, Lee & Associates . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:29 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.