9325 Sylmar Avenue
Panorama City, CA 91402
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1950 build
- – on site
***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.
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Last updated Mar 10, 2025
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MLS# 24432075 —
The Building
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Year Built:1950
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:8156.00
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Total Number Of Units:12
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# of Buildings:1
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:East of Van Nuys Blvd., West of Woodman Ave., North of Tupper, South of Plummer
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Latitude:34.23952500
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Longitude:-118.44667000
The Property
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Property Type:Residential Income
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Zoning:LARD2
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Lot Size Area:16999.0000
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Lot Size Dimensions:100x170
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Lot Size Acres:0.3902
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Lot Size SqFt:16999.00
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Lot Size Source:Assessor
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Lot Dimensions 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:2644029007
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Uncovered
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Parking Spaces:24.00
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).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/5/25
Mar 5, 2025
|
Price Changed | CRMLS_CA | $2,650,000 | -5.4% |
10/10/24
Oct 10, 2024
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Price Changed | CRMLS_CA | $2,800,000 | -6.7% |
8/26/24
Aug 26, 2024
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Listed / Active | CRMLS_CA | $3,000,000 |