We are pleased to present the opportunity to acquire a 27-unit value-add multifamily, located in Panorama City. Built in 1964, the subject property is located at one of the most desirable rental markets in San Fernando Valley, and it offers an excellent unit mix with the majority of the 2-bedroom units. Selected units are renovated. The ownership has completed the seismic retrofitting. The roof was replaced in 2024. SCEP PASSED IN CURRENT.
Property Features
Appliances
- Laundry Features: Common Area
Bathrooms
Land Info
- Additional Parcels: No
- Land Lease: No
- Lot Description: Lot 20000-39999 Sqft
- Lot Size Acres: 0.5327
- Lot Size Source: Assessor
- Lot Size Square Feet: 23204
Garage and Parking
- Parking Features: Assigned
Rental Info
- Gross Scheduled Income: 547176
- Vacancy Allowance: 16415
- Rent Control: Yes
Multi-Unit Info
- Number of Units: 27
- Bedrooms in Unit-1: 0
- Bedrooms in Unit-2: 1
- Bedrooms in Unit-3: 2
- Bedrooms in Unit-4: 3
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 2
- Total Bathrooms in Unit-4: 1
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 1
- Full Bathrooms in Unit-3: 2
- Full Bathrooms in Unit-4: 1
- Unit-1 Furnished Description: Unfurnished
- Unit-2 Furnished Description: Unfurnished
- Unit-3 Furnished Description: Unfurnished
- Unit-4 Furnished Description: Unfurnished
- Unit 1 Total Actual Rent: 1450
- Unit 2 Total Actual Rent: 1523
- Unit 3 Total Actual Rent: 1751
- Unit 4 Total Actual Rent: 1980
Amenities and Community Features
- Community Features: Urban
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 7
- Source Property Type: Residential Income
- Area: PC - Panorama City
- Source Neighborhood: PC - Panorama City
- Number of Separate Electric Meters: 28
- Number of Separate Gas Meters: 28
- Number of Separate Water Meters: 1
- Parcel Number: 2653003005
- Property Subtype: Commercial/Residential
Commercial Info
- Net Operating Income: 341679
- Operating Expense: 224054
Building and Construction
- Year Built: 1964
- Building Features: 1
- Common Walls: 1 Common Wall
- Entry Level: 1
- Entry Location: Ground
- Property Age: 61
- Property Attached: Yes
- Building Total Stories: 2
- Elevation Units: Feet
- Year Built Source: Assessor
Utilities
- Sewer: Public Sewer
- Water Source: Public
