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9325 Sylmar Ave, Panorama City, CA 91402

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For Sale

$2,650,000

20 beds • 8,156 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $324.91
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

***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.
MLS# 24-432075

Courtesy Of Keller Williams Santa Monica

(310) 482-2200

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    0.39 Acres

Map and Directions

Directions to 9325 Sylmar Ave, Panorama City, CA 91402

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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