***PRICE REDUCTION | MOTIVATED SELLER***9325 Sylmar Ave in Panorama City presents an excellent covered land play opportunity, combining immediate income with significant development opportunity. The property currently generates stable cash flow from 4 (1+1) and 8 (2+1) units and offers the ability to add 8 detached Non-Rent Control 2+2 ADUs in the parking lot. Seller will deliver the ADUs RTI prior to the close of escrow. This addition should immediately increase returns from a 4.52% Cap and 11.67 GRM to an 8.53% Cap and 7.79 GRM with no additional units turning over. After the construction the building would still have an addition 34% rental upside in rents. The buyer has the option to select from two strategies: The first is "Build and Hold" which offers exceptional cash flow once the 8 ADUs are added. We estimate that the buyer will have a 21.70 IRR%, 9.60 Pre-Tax cash flow, 8.53% cap rate with a 7.79 GRM after the ADU additions, unheard of in any market today. The second strategy is to "Build and Flip." We estimate the total purchase, construction and resale closing costs to be just north of $4,050,000; with the resale value of $5,730,000, generating approximate. $1,730,000 profit on your total investment. The investment is located just 3 blocks from the upcoming San Fernando Valley Light Rail Transit Project and less than 2 miles from the transformative 5-million-square-foot Panorama City Center, the property is positioned to benefit from substantial neighborhood revitalization. Nearby developments, such as the Panorama Tower luxury apartments and other mixed-use projects, are driving demand and rent growth in the area. With its income-generating capacity, potential for additional units, and proximity to transformative developments, this property offers a unique opportunity to capitalize on immediate returns and future growth.
Property Details
Price:
$2,650,000
MLS #:
24432075
Status:
Active
Baths:
0
Address:
9325 Sylmar Avenue
Type:
Residential Income
Neighborhood:
pcpanoramacity
City:
Panorama City
Listed Date:
Aug 26, 2024
State:
CA
ZIP:
91402
Lot Size:
16,999 sqft / 0.39 acres (approx)
Year Built:
1950
See this Listing
Mortgage Calculator
Schools
Interior
Cooling
Wall/ Window Unit(s)
Heating
Wall Furnace
Exterior
Parking Features
Uncovered
Parking Spots
24.00
Stories Total
2
Financial
Map
Community
- Address9325 Sylmar Avenue Panorama City CA
- AreaPC – Panorama City
- CityPanorama City
- CountyLos Angeles
- Zip Code91402
Similar Listings Nearby
- 14811 Parthenia Street
Panorama City, CA$3,300,000
0.92 miles away
- 13147 Vanowen Street
North Hollywood, CA$2,999,999
3.48 miles away
- 5653 Hazeltine Avenue
Sherman Oaks, CA$2,850,000
4.56 miles away
- 5655 Hazeltine Street
Sherman Oaks, CA$2,850,000
4.56 miles away
- 13226 Paxton Street
Pacoima, CA$2,800,000
3.01 miles away
- 17520 Kingsbury Street
Granada Hills, CA$2,695,000
4.28 miles away
- 14752 Erwin Street
Van Nuys, CA$2,599,000
3.91 miles away
- 7436 Lankershim Boulevard
North Hollywood, CA$2,550,000
4.11 miles away
- 15919 Sherman Way
Van Nuys, CA$2,400,000
3.24 miles away

9325 Sylmar Avenue
Panorama City, CA
LIGHTBOX-IMAGES