7910 Brimfield Avenue
Panorama City, CA 91402
- – beds
- – baths
- – sqft
- 10,913 sqft lot
- 1956 build
- – on site
Available to purchase for just $158,214 per unit, this represents one of the best values in the entire San Fernando Valley, offering an investor an inexpensive entry point into the sought-after Valley multifamily market. With current rents below market, a new owner can increase income dramatically while recapturing the approximately 59% in rent upside. The current owner has already completed all seismic retrofit repairs (Buyer to verify), allowing a new investor to benefit from both the $230,000 in brand new seismic upgrades as well as the monthly tenant surcharges that can be collected for the next five years. Much of the plumbing has been upgraded to copper pipes by the current owner as well. The property is set to benefit from several large projects in the development pipeline within Panorama City. On a 17-acre site just blocks from Brimfield Avenue, a potential 4.5-million square foot mixed-use campus is slated for the site of the existing Panorama Mall. Dubbed Panorama City Center, the project would include 125,000 square feet of retail space, 70,000 square feet of restaurant space, 90,000 square feet of entertainment space, and 146,000 square feet of open space. Perhaps the most noteworthy development project in the area is the upcoming East San Fernando Valley Light Rail Line, which will connect the Metro Orange Line, the Metrolink Train Line in Van Nuys, and the Metrolink Train Line in Sylmar/San Fernando. The majority of the new transit line will run along the median of Van Nuys Boulevard, with the Van Nuys Metrolink and the Roscoe Boulevard stations only blocks away from tenants at 7910 Brimfield Avenue. In addition to boosting commerce in the immediate area, it will also provide the benefit of more convenient transportation for the property's tenants.
Listed By CRMLS_CA / Roderick 'Rick' Raymundo / Marcus & Millichap
Last checked:
Checking…
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Last updated Nov 6, 2024
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MLS# 24456379 —
The Building
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Year Built:1956
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New Construction:No
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Building Area Total:9094.00
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# of Buildings:2
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Total Number Of Units:14
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:We are pleased to announce the opportunity to purchase 7910 Brimfield Avenue, a 14-unit multifamily property located in Panorama City, CA.
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Latitude:34.21444200
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Longitude:-118.45719300
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:10913.0000
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Lot Size Acres:0.2505
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Lot Size SqFt:10913.00
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Lot Size Source:Assessor
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:2209041002
Appliances
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Included:Yes
The Community
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Senior Community:No
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Association:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:14.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/6/24
Nov 6, 2024
|
Listed / Active | CRMLS_CA | $2,215,000 | 1.4% (0.2% / YR) |
8/6/24
Aug 6, 2024
|
Price Changed | CRMLS_CA | ||
5/30/24
May 30, 2024
|
Listed / Active | CRMLS_CA |