7961 Willis Ave
Panorama City, CA 91402
26 Beds23 Baths15,621 Sq Ft15 Days on Market
Under Contract $3,150,000
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Courtesy of KW Advisors
Listing Agent & Comments
The two story apartment consists of four 2 bedroom/ 2 bathroom units, three 2 bedroom/ 1 bathroom units, and the remainder of twelve 1 bedroom/ 1 bathroom units. Some of the units include balconies. The roof has been newly updated and the soft story retrofit work has been completed. Additionally there are 19 parking spots. The building size is 15,621 square feet that is built on a 18,221 square foot lot. The zoning is LAR3 Tier 3 TOC. The investment opportunity is located in the vibrant and up and coming neighborhood of Panorama City. Located within blocks of the existing Panorama Mall, the future site of a planned 4.5 million square foot mixed use development site. Included in the proposal are 70,000 square feet of restaurant space, 125,000 square feet of retail space, 146,000 square feet of open space,and 90,000 square feet of entertainment space. 7961 Willis Avenue is a 0.7 mile 14 minute walk from the Metrolink Ventura County Line at the Van Nuys Metrolink Station stop.A noteworthy development project currently in the San Fernando Valley, the light rail line will connect the Metrolink Train Line inVan Nuys , 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 a station planned within blocks of the subject property. With current rents approximately 60% below market rates, a savy investor can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. An additional revenue stream is provided by the on-site laundry facilities.
Listing Broker Offer of Compensation is 2.5%.*
MLS# 24388019 • Data provided by CRMLS
*This offer of compensation is only eligible for participants of the MLS where the listing was filed.
Living Area | 15,621 Sq.Ft. |
---|---|
Lot Size | 0.4 Acres |
Total Rooms | -- |
Bedrooms | 26 |
Bathrooms | 23 |
Stories | -- |
Year Built | 1966 |
Property Type | Multi Family |
Zoning | LAR3 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2023 |
Tax Amount | $36,340 |
Property in Flood Zone | -- |
Data provided by CRMLS.
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More Information On This Home
This home's estimated value
$3,073,934
ComeHome Estimated Value
What influenced our estimate?
This is ComeHome’s estimated market value for this home. It is not a formal appraisal. This estimate is based on our market knowledge, and it should be used as a starting point to determine a home’s value.
This property is missing data for:
Rental estimate
New
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HouseCanary, Inc. Brokerage
7961 Willis Ave., Panorama City, CA 91402
Multi Family26 Beds23 Baths15,621 Sq Ft15 Days on Market
Listing Agent & Comments
The two story apartment consists of four 2 bedroom/ 2 bathroom units, three 2 bedroom/ 1 bathroom units, and the remainder of twelve 1 bedroom/ 1 bathroom units. Some of the units include balconies. The roof has been newly updated and the soft story retrofit work has been completed. Additionally there are 19 parking spots. The building size is 15,621 square feet that is built on a 18,221 square foot lot. The zoning is LAR3 Tier 3 TOC. The investment opportunity is located in the vibrant and up and coming neighborhood of Panorama City. Located within blocks of the existing Panorama Mall, the future site of a planned 4.5 million square foot mixed use development site. Included in the proposal are 70,000 square feet of restaurant space, 125,000 square feet of retail space, 146,000 square feet of open space,and 90,000 square feet of entertainment space. 7961 Willis Avenue is a 0.7 mile 14 minute walk from the Metrolink Ventura County Line at the Van Nuys Metrolink Station stop.A noteworthy development project currently in the San Fernando Valley, the light rail line will connect the Metrolink Train Line inVan Nuys , 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 a station planned within blocks of the subject property. With current rents approximately 60% below market rates, a savy investor can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. An additional revenue stream is provided by the on-site laundry facilities.
Listing Broker Offer of Compensation is 2.5%.*
MLS# 24388019 • Data provided by CRMLS
*This offer of compensation is only eligible for participants of the MLS where the listing was filed.
Living Area | 15,621 Sq.Ft. |
---|---|
Lot Size | 0.4 Acres |
Total Rooms | -- |
Bedrooms | 26 |
Bathrooms | 23 |
Stories | -- |
Year Built | 1966 |
Property Type | Multi Family |
Zoning | LAR3 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2023 |
Tax Amount | $36,340 |
Property in Flood Zone | -- |
Data provided by CRMLS.
We’ll connect you with top agents in your area.
This property is missing data for:
Rental estimate
New
Do you own this home?
Access your homeowner dashboard
Under Contract $3,150,000
Request tour
Save
Courtesy of KW Advisors
7961 Willis Ave
Panorama City, CA 91402
26 Beds23 Baths15,621 Sq Ft15 Days on Market
Listing Agent & Comments
The two story apartment consists of four 2 bedroom/ 2 bathroom units, three 2 bedroom/ 1 bathroom units, and the remainder of twelve 1 bedroom/ 1 bathroom units. Some of the units include balconies. The roof has been newly updated and the soft story retrofit work has been completed. Additionally there are 19 parking spots. The building size is 15,621 square feet that is built on a 18,221 square foot lot. The zoning is LAR3 Tier 3 TOC. The investment opportunity is located in the vibrant and up and coming neighborhood of Panorama City. Located within blocks of the existing Panorama Mall, the future site of a planned 4.5 million square foot mixed use development site. Included in the proposal are 70,000 square feet of restaurant space, 125,000 square feet of retail space, 146,000 square feet of open space,and 90,000 square feet of entertainment space. 7961 Willis Avenue is a 0.7 mile 14 minute walk from the Metrolink Ventura County Line at the Van Nuys Metrolink Station stop.A noteworthy development project currently in the San Fernando Valley, the light rail line will connect the Metrolink Train Line inVan Nuys , 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 a station planned within blocks of the subject property. With current rents approximately 60% below market rates, a savy investor can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. An additional revenue stream is provided by the on-site laundry facilities.
Listing Broker Offer of Compensation is 2.5%.*
MLS# 24388019 • Data provided by CRMLS
*This offer of compensation is only eligible for participants of the MLS where the listing was filed.
Living Area | 15,621 Sq.Ft. |
---|---|
Lot Size | 0.4 Acres |
Total Rooms | -- |
Bedrooms | 26 |
Bathrooms | 23 |
Stories | -- |
Year Built | 1966 |
Property Type | Multi Family |
Zoning | LAR3 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2023 |
Tax Amount | $36,340 |
Property in Flood Zone | -- |
Data provided by CRMLS.
We’ll connect you with top agents in your area.
More Information On This Home
This home's estimated value
$3,073,934
ComeHome Estimated Value
What influenced our estimate?
This is ComeHome’s estimated market value for this home. It is not a formal appraisal. This estimate is based on our market knowledge, and it should be used as a starting point to determine a home’s value.
This property is missing data for:
Rental estimate
New
Do you own this home?
Access your homeowner dashboard
Under Contract $3,150,000
Request tour
Save
Courtesy of KW Advisors