7900 7910 Willis AVE Pending

Panorama City,CA 91402

$ 3395000

- Bed

- Bath

13824 SqFt


Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Square Footage 13,824 sqft

Price per Sqft $245

MLS Listing ID SR24163292

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

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Laundry None

Exterior

Garage Assigned

Pool None

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

Building

Lot Description Landscaped,Rectangular Lot

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash,Cash to New Loan

Listing Terms Cash,Cash to New Loan

Special Listing Condition Standard

View More
Favorite Go Tour