8434 Willis Ave | Panorama City, CA 91402
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- LoopNet Team
8434 Willis Ave
Panorama City, CA 91402
Willis Avenue Apartments · Multifamily Property For Sale
·
72 Units
INVESTMENT HIGHLIGHTS
- A 72-unit apartment investment opportunity located in Panorama City on a 65,410 SF lot
- The property has 72 parking spaces and community laundry
- Nestled in the heart of the San Fernando Valley, Panorama City is densely populated and has a diverse community full of economic opportunity
- Located between Roscoe Blvd and Nordhoff St, this is a value add opportunity with over 39% rental upside achievable as units turn
- Separately metered for gas and electric and all units have balconies
- Ideal rental market that continues to grow, illustrated by the year-over-year rent growth; the subject property is two blocks from the Panorama Mall
PROPERTY FACTS
| No. Units | 72 | Building Size | 46,127 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1974 |
| Building Class | C | Parking Ratio | 1.56/1,000 SF |
| Lot Size | 1.50 AC | ||
| Zoning | LAR3 | ||
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.50 AC |
| Building Size | 46,127 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | LAR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Dining Room
- Window Coverings
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Gated
- Maintenance on site
- Online Services
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 450 |
| 1+1 | 68 | - | 538 |
| 2+1 | 2 | - | 789 |
PROPERTY TAXES
| Parcel Number | 2653-019-038 | Improvements Assessment | $6,580,020 |
| Land Assessment | $9,870,540 | Total Assessment | $16,450,560 |
PROPERTY TAXES
Parcel Number
2653-019-038
Land Assessment
$9,870,540
Improvements Assessment
$6,580,020
Total Assessment
$16,450,560
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