7900 Willis Avenue
Panorama City, CA 91402
0.84 acres | #SR24163292
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.
Property Details
- Lot DescriptionLandscaped, RectangularLot
- Stories1
Measurements
- Acres0.8402
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1953
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$3,395,000
Other
- MLS #SR24163292
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Warren Berzack (#F207058099)
Listing Office: Lee & Associates (#F8048001)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
