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7900 Willis Avenue Panorama City, CA 91402
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Key Details
Sold Price $3,300,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR24163292
Sold Date 11/26/24
Bedrooms 3
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
Zoning Assessor
Direction West of Van Nuys Blvd, South of Roscoe
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Read Less
Bought with San Diego
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