9325 Sylmar AveLos Angeles, CA 91402

Property Details for 9325 Sylmar Ave

Year built

1950

Construction

WOOD

Lot size

0.39 AC

Property size (Sq ft)

8,156 SF

Zone code

LARD2

Property type

Apartment buildings

APN

2644-029-007

APU

2644029007

Description

This exceptional 12-unit apartment building presents a compelling investment opportunity in Los Angeles, CA. Situated on a 0.39-acre lot at 9325 Sylmar Ave, 91402, this two-story building boasts 8,156 square feet and offers a mix of one-bedroom, one-bathroom and two-bedroom, one-bathroom units. The property includes 24 parking spaces, a significant advantage in this location. Built in 1950, this property offers substantial upside potential given its location within a rapidly developing area. The property is strategically positioned just three blocks from the upcoming San Fernando Valley Light Rail Transit project and less than two miles from the planned Panorama City Center, a massive 5,000,000 square foot mixed-use development. This development will include multi-family housing, retail, restaurants, entertainment, fitness centers, office space, and medical facilities, transforming the neighborhood and driving increased demand for rental properties. The current asking price is $2,800,000, representing a price per unit of $233,333.33 and a price per square foot of $343.31. Significant potential exists to increase rental income, with estimates suggesting a 62% upside. Furthermore, the large parking lot offers the possibility of adding two detached accessory dwelling units (ADUs), further enhancing the property's value and return on investment. This property represents a rare chance to capitalize on the transformative growth projected for this area of Los Angeles.

• CAP approach

  CAP return

  Valuation

  6%

  $2,927,618

  6.5%

  $2,702,417

  7%

  $2,509,387

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,403,965

  Geo Method

  $2,403,965

• Alternative Use

  Use

  Valuation

  Residential

  $2,702,417

  Hospitality

  $2,475,400

  Educational

  $2,059,503

  Medical

  $2,130,333

  Retail

  $3,203,672

Location Insight

City

Panorama City

County

Los Angeles

State

California

Latitude

34.2395

Longitude

-118.447

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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