7900 7910 Willis Ave, Panorama City, CA 91402

$3,300,000 Sold on Nov 26, 2024 Residential Income

–	–	–	36,600	1953
Beds	Baths	Sq Ft	Sq Ft Lot	Yr Built

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–	–	–	36,600	1953
Beds	Baths	Sq Ft	Sq Ft Lot	Yr Built

Property Details

Neighborhood Map

About this Property

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.

MLS Listing Information

MLS #

CRSR24163292

MLS Source

California Regional MLS

Interior Features

Laundry

None

Parking, School, and Other Information

Garage/Parking

Assigned Spaces, Garage: 0 Car(s)

Unit Information

# Buildings	# Leased Units	# Total Units
3	–	–

Listing Agent

Warren Berzack

Lee & Associates

License #: 01329015

Phone: –

Neighborhood: Around This Home

Neighborhood: Local Demographics

7900 7910 Willis Ave is a Residential Income in Panorama City, CA 91402. This – square foot property sits on a 36,600 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $3,300,000 and was built in 1953. Comparable nearby homes include 1064 Polk Ave, 445 Molino Ave, and 1176 W Iowa Ave. Nearby schools include St Cyprian School, Vargas Elementary School and Sunnyvale High School. The closest grocery stores are Safeway, Madras Groceries and Felipe's Market. Nearby coffee shops include Starbucks and 7-Eleven. Nearby restaurants include Pho Quyen 2 Noodle House, Madras Cafe and The Old Siam. 2135 Blue Bonnet Way is near Advanced Micro Devices Headquarters, Encinal Park and Las Palmas Park. This address can also be written as 7900 7910 Willis Ave, Panorama City, CA 91402.

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This listing information is up-to-date as of December 21, 2024. For the most current information, please contact Warren Berzack