Panorama City, CA 91402,9325 Sylmar AVE
Panorama City, CA 91402,9325 Sylmar AVE
Panorama City, CA 91402,9325 Sylmar AVE
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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$ 2,700,000
Est. payment | /mo

20 Beds

12 Baths

8,156 SqFt


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$ 2,700,000
Est. payment | /mo
Save

20 Beds

12 Baths

8,156 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,156 sqft

Price per Sqft $331

MLS Listing ID 24432075

Bedrooms 20

HOA Y/N No

Year Built 1950

Lot Size 0.390 Acres

Lot Dimensions Assessor

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 Pc - Panorama City

Zoning LARD2

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Uncovered

Total Parking Spaces 24

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2644029007

Special Listing Condition Standard

CRMLS – RECore
Listed by Kelly Morgan KW Advisors

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

rwgbjg

Exceptional Realtors

There are a number of solid and competent realtors that can help you navigate the paperwork needed to either close a sale or negotiate a purchase of a home. The number of exceptional realtors who can develop a effective markeketing plan based on research, investment and strength of intellect and character are few and hard to find. Patrick and Ruby Raymond are those exceptional realtors. In addition, the other members of their team were each exceptional and epitomize professionalism. When Patrick first approached me, he stated a price than our home would generate that exceeded what I thought the market would bear. Then he proceeded to explain how this sale price could happen. First, he knew our neighborhood and its strength and weaknesses regarding its saleability. Next, he revealed the investments he had made to obtain a data base of pre-qualified buyers from throughout our state and around the country. Finally, Patrick and Ruby provided an in depth strategy on how to stage our home, establish timelines, and present tools they would use to sell the home. Some of their strategies were known but not always followed by other realtors, and additional strategies were proprietary to the Raymond team. The result was that we received three offers each either meeting of exceeding what Patrick and Ruby first told us our home could sell for. Throughout the process they both remained calm and focused even when little hickups occurred. It was a learning experience for us when we had questions about staging the home I found out later from the buyers how much Rubys’ strategies influenced their purchasing decision. Needless to say it is without any reservations that we would recommend the Raymond team whether you are purchasing or selling a home. P.S. They even gave us great input on strategies on how to buy our current home in a very competitive market.

Heather Squire

Transparent, Reliable & Honest

Ruby was extremely helpful, open, transparent, and reliable through the whole process, she really cared about us, understood our needs. Ruby was always available to answer our questions. Ruby really is the best! She was thorough and professional and great to work with. She scheduled the inspection and pest company, made it so easy to get everything done. She was honest and forthright- no games. Would use her again tomorrow if we were to buy or sell in the area.

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How Does The Raymond Team Deliver Exceptional Real Estate Service?

Expert Guidance

We educate you on the market and guide you to the best best decision about your move.

Proven Systems

Over 23 years of real estate experience  has helped us perfect our results-driven buying and selling systems.

Results Driven

We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.

agent
Ruby Raymond

Broker Associate | License ID: 01342959

+1(805) 201-6341 | ruby@rubyraymond.com

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