Panorama City, CA 91402,7900 7910 Willis AVE
Panorama City, CA 91402,7900 7910 Willis AVE
Panorama City, CA 91402,7900 7910 Willis AVE
Panorama City, CA 91402,7900 7910 Willis AVE
Panorama City, CA 91402,7900 7910 Willis AVE
Panorama City, CA 91402,7900 7910 Willis AVE
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Ian Ferguson

Ian Ferguson

Greenspan Realty

+1(818) 795-7724
$ 3,395,000
Est. payment | /mo

0.84 Acres Lot


Save
$ 3,395,000
Est. payment | /mo
Save

0.84 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SR24163292

HOA Y/N No

Year Built 1953

Lot Size 0.840 Acres

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.

Location

State CA

County Los Angeles

Area Pc - Panorama City

Zoning LAR3

Interior

Fireplace No

Laundry None

Exterior

Garage Assigned

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks, Urban

Total Parking Spaces 40

Private Pool No

Building

Lot Description Landscaped, Rectangular Lot

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 2210021032

Energy Description 1000.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Warren Berzack • Lee & Associates • 818-269-2979
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

 

Scott Greenspan

Broker Owner

+1(310) 363-0606

info@greenspanrealty.net

Rancho Palos Verdes, CA, 90275, USA

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7900 7910 Willis AVE