Pending
7900 Willis AVE
PANORAMA CITY CA, 91402
$3,395,000
$245.59 per sqft
Pending
3 Beds
2 Baths
13,824 sqft
Multi-family
Built in 1953
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.
SR24163292MR
MLSⓇ ID
August 7, 2024
Listed
September 13, 2024
Updated
Map
7900 Willis AVE
PANORAMA CITY CA, 91402
Interior Features
Total Stories
1
Bedrooms
3
Total Bathrooms
2
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.84 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Panorama City
Days on Market
23
Garage
No
Parking
Assigned
Parking Total
40
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LAR3
Listing History
Date | Event | Price |
|---|---|---|
8/31/2024 | Pending | — |
Listed by Warren Berzack with Lee & Associates
Listing Contact: 818-269-2979
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Christie’s International Real Estate Southern California shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 9/13/2024
