9325 Sylmar Ave, Panorama City, CA 91402
12 Unit Apartment Building | $3,000,000 ($250,000/Unit) | Panorama City, CA 91402
For Sale
Active
Asking Price $3,000,000
- Property Type
-
Multifamily
- Square Feet
- 8,156 SF
Listing Contacts
Kelly Morgan
- Property Info
Property Overview
Kelly Morgan Commercial Group is proud to present 9325 Sylmar Avenue, located in Panorama City, California with 4 (1+1) and 8 (2+1).
There are big changes going on near Panorama City and North Hills.
Primestor and the city are planning a major development called the “Panorama City Center”. This massive development will offer over 5 million square feet of multi-family, retail, restaurants, entertainment, fitness, office, and medical.
Basically, a walking city.
This adds to other current and future huge developments being planned in the area. Izek Shomof has already converted the Panorama Tower (https://www.panoramatowerla.com), previously an office building, into 194 luxury residential apartments and due it’s success, is now planning on building another 200 apartments w/ retail right next door. (https://la.urbanize.city/post/mixed-use-project-moves-forward-8141-van-nuys-panorama-city)
We believe these major investments are due to the upcoming Light Rail Transit Line on Van Nuys Blvd.
Transit Lines have been proven to change neighborhoods, sometimes increasing rents 25-67%. Large developers know this and build accordingly. These transformative large developments further change the neighborhoods. Nearby property owners receive the benefits.
Call us, we can help you profit from this.
There are big changes going on near Panorama City and North Hills.
Primestor and the city are planning a major development called the “Panorama City Center”. This massive development will offer over 5 million square feet of multi-family, retail, restaurants, entertainment, fitness, office, and medical.
Basically, a walking city.
This adds to other current and future huge developments being planned in the area. Izek Shomof has already converted the Panorama Tower (https://www.panoramatowerla.com), previously an office building, into 194 luxury residential apartments and due it’s success, is now planning on building another 200 apartments w/ retail right next door. (https://la.urbanize.city/post/mixed-use-project-moves-forward-8141-van-nuys-panorama-city)
We believe these major investments are due to the upcoming Light Rail Transit Line on Van Nuys Blvd.
Transit Lines have been proven to change neighborhoods, sometimes increasing rents 25-67%. Large developers know this and build accordingly. These transformative large developments further change the neighborhoods. Nearby property owners receive the benefits.
Call us, we can help you profit from this.
Property Details
- Class
- C
- Year Built
- 1950
- Stories
- 2
- Lot Size (sq. ft)
- 16,988 SF
- Units
- 12
Highlights
- 3.80% Cap, 13.42 GRM | 63% Potential Upside In Rents
- Possibility To Add Two 3+2 Detached ADUs In The Large Parking Lot
- 3 Blocks From Upcoming SF Valley Light Rail Transit Project
- Less than 2 miles from the Future Panorama City Center, a 5,000,000 Sq Ft Transportation Oriented Development sure to Transform the Neighborhood
- New Developments Change Neighborhoods, Additional Significant Developments are Planned in the Area by Major Developers
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