CA > Panorama City
Panorama City, CA 91402,9325 Sylmar Ave
Panorama City, CA 91402,9325 Sylmar Ave
Panorama City, CA 91402,9325 Sylmar Ave
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Kirshner Elkin Properties

Kirshner Elkin Properties

+1(424) 214-0133
$2,700,000
Est. payment /mo
20 Beds
12 Baths
8,156 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,156 sqft

Price per Sqft $331

MLS Listing ID 24-432075

Bedrooms 20

Year Built 1950

Lot Size 0.390 Acres

Acres 0.3902

Property Sub-Type Multi-Family

Property Description

***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 4.41% Cap and 11.89 GRM to an 7.75% Cap and 8.35 GRM with no additional units turning over. After the construction the building would still have an addition 28% 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 21.52 IRR%, 8.68 Pre-Tax cash flow, 7.75% cap rate with a 8.35 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.

Location

State CA

County Los Angeles

Area Panorama City

Zoning LARD2

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall/Window

Equipment None

Exterior

Parking Features Uncovered

Garage Spaces 24.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by KW Advisors

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