7900 7910 Willis Avenue, Panorama City, CA 91402
Property
Sold November 2024
Listing Agent: Warren Berzack (DRE #01329015) · Listing Office: Lee & Associates · Contact: 818-269-2979 · Bought with: Adam Feldman · Matthews Real Estate Investment Services · MLS #SR24163292 · Source: CRMLS
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.
Listing description from the November 2024 sale, as reported to CRMLS.
Sale history