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***CONTACT US FOR AN OM***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. This addition should immediately increase returns from a 4.21% Cap and 12.33 GRM to an 8.18% Cap and 8.08 GRM with no additional units turning over. After the construction the building would still have an additional 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 can cash-out refi the property after constructing the ADUs leaving an investment of only $500,000 in the asset and achieve a 16% cash-on-cash return in the first year at today's rates. The second strategy is to "Build and Flip." We estimate the total purchase, construction, carrying, and resale closing costs to be $4,730,000; with the resale value of $5,730,000, generating a $1,000,000 profit on your total investment of $1,600,000 that equal a 62.5% return on investment. This approach is suited for investors seeking quick, high returns in a shorter timeframe. 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. *Disclaimer:The attached information and figures are projections provided solely for conceptual marketing purposes and must be verified by the prospective purchasers. Neither the Seller, KW Commercial, Kelly Morgan, their team, nor any related employees or independent contractors warrant their accuracy. Prospective purchasers should conduct their own due diligence and are advised to conduct a thorough investigation including consulting with the appropriate professionals regarding all relevant details, facts, and projections, including the ability to make any potential improvements or build an ADU on the property in question.
Property Type(s):
Residential Income
| Last Updated | 12/11/2024 | Year Built | 1950 |
|---|---|---|---|
| Community | Panorama City | County | Los Angeles |
Price History
| Prior to Oct 10, '24 | $3,000,000 |
|---|---|
| Oct 10, '24 - Today | $2,800,000 |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Panorama City |
| GARAGE | Uncovered |
| HEAT | Wall Furnace |
| LOT | 0.39 acre(s) |
| LOT DIMENSIONS | 100x170 |
| PARKING | Uncovered |
| STORIES | 2 |
| ZONING | LARD2 |
Location
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Listed with KW Advisors
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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