7900 Willis Avenue, Panorama City, CA

$3,395,000

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3

Beds

2

Baths

0.84

Acres

About 7900 Willis Avenue

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.

Features of 7900 Willis Avenue

MLS® # SR24163292
Price $3,395,000
Bedrooms 3
Bathrooms 2.00
Acres 0.84
Type Residential Income
Status Closed

Community Information

Address 7900 Willis Avenue
City Panorama City
County Los Angeles
State CA
Zip Code 91402

Amenities

Is Waterfront No
Has Pool No
Pool N/K

Interior

Fireplace Yes
Stories 1 Story

Exterior

Lot Description Curbs,Sidewalks

Additional Information

Date Listed August 7th, 2024
Days on Market 23
Zoning Assessor
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeLee & Associates

Listing Map

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