9325 Sylmar Avenue Active Save Request In-Person Tour Request Virtual Tour
Panorama City (los Angeles),CA 91402
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,156 sqft
Price per Sqft $343
MLS Listing ID CL24432075
HOA Y/N No
Year Built 1950
Lot Size 0.390 Acres
Acres 0.39
Property Sub-Type Other
Property Description
***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, hig
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 2644029007