19
See all 19 photos
$2,650,000
Est. payment /mo
20 BD
12 BA
8,156 SqFt
Price Dropped by $150K
9325 Sylmar AVE Panorama City, CA 91402
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UPDATED:
03/10/2025 07:05 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,156 sqft
Price per Sqft $324
MLS Listing ID 24432075
Bedrooms 20
HOA Y/N No
Year Built 1950
Lot Size 0.390 Acres
Lot Dimensions Assessor
Property Description
***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.
Location
State CA
County Los Angeles
Area Pc - Panorama City
Zoning LARD2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Uncovered
Total Parking Spaces 24
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2644029007
Special Listing Condition Standard
Listed by Kelly Morgan • KW Advisors
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