Description
9325 Sylmar Avenue, located in Panorama City, California with 4 (1+1) and 8 (2+1). This 12-unit value add investment has more than 70% upside in rents and also has the possibility to add two large 3+2 detached ADUs (Accessory Dwelling Units) in the large parking lot.* By turning two units each year for five years after purchase and adding the two ADUs, Buyer may potentially achieve a 18% average annual return including renovation and construction costs.This location and surrounding neighborhoods are probable to go up in value with the construction of the new East San Fernando Light Rail Transit Project. The Light Rail project runs along Van Nuys Boulevard with various stops in Panorama City. Some of which will only be 3 blocks from the subject property. It is estimated that new public transit stops raise nearby rental prices by 25-65%. Therefore, it is believed that the value of 9325 Sylmar Avenue will go up significantly in the coming years.*Buyer to confirm feasibility.
Location
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Listing Agent: Kelly Morgan Courtesy of: KW Advisors The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 21st March, 2023 10:10 AM (UTC)
