Stats

• Sold Price $4,216,000
• Price per Unit $140,533
• Price per Sqft $162
• GRM 9.58
• Cap Rate 5.32%
• Number of Buildings 1
• Number of Units 30
• Gross Building Area 25,959 SF
• Lot Size 33,013 SF
• Floors 2
• Year Built 1962
• Parking 44 space
• Zoning LAR3-1

About the Property

The Kanner Group is pleased to present 8415 Willis Avenue, a 2-story, 30-unit value-add multi-family investment opportunity. The property is locat¬ed in the desirable Panorama City submarket of Los Angeles, just 0.4 miles north of Roscoe Blvd and 0.4 miles south of Parthenia St.

Built in 1962, the building is comprised of 13 (2+1), 12 (1+1) and 5 (2+2) units that average approximately 865 gross square feet. The 25,959 square foot structure is situated on a 33,013 square foot, LAR3-1 zoned lot and contains 44 parking spaces on-site. The property is separately metered for gas & electric and contains an on-site laundry room. The property is fully compliant with SB 721. All required inspections of elevated exterior elements have been completed, with all identified repairs performed in compliance with California state regulations and Los Angeles local standards.

The property’s Panorama City location, near the intersection of Roscoe Blvd and Van Nuys Blvd, offers residents convenient access to a wide range of shopping, dining, entertainment, and recreational options throughout Panorama City, North Hills, Van Nuys, and Mission Hills. The property is also just minutes from major retail destinations, including the Panorama Mall, Plant Shopping Center, and the nearby Northridge Fashion Center.

Residents enjoy proximity to outdoor amenities such as the Sepulveda Basin Recreation Area, Lake Balboa Park, and various local parks, providing abundant opportunities for leisure and recreation.

The property is well-connected, located 1 mile east of the 405 Freeway, 3.2 miles south of the 118 Freeway, and 2.6 miles west of the 5 Freeway, offering easy access to the greater San Fernando Valley and beyond. This central location also allows for convenient commutes to major employment centers in Burbank, Glendale, and Downtown Los Angeles.

8415 Willis Avenue is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.