Listed by Roderick 'Rick' Raymundo - DRE #01357019 - Marcus & Millichap 818-212-2700
$2,215,000 affordable loan icon Calculate Payment

7910 Brimfield Avenue Panorama City, CA 91402

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Cluster Residence
16 Beds
14 Baths
9,094 Sq. Ft.
0.25 Acre Lot

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Last updated on 11/15/2024 4:28 PM
Available to purchase for just $158,214 per unit, this represents one of the best values in the entire San Fernando Valley, offering an investor an inexpensive entry point into the sought-after Valley multifamily market. With current rents below market, a new owner can increase income dramatically w...hile recapturing the approximately 59% in rent upside. The current owner has already completed all seismic retrofit repairs (Buyer to verify), allowing a new investor to benefit from both the $230,000 in brand new seismic upgrades as well as the monthly tenant surcharges that can be collected for the next five years. Much of the plumbing has been upgraded to copper pipes by the current owner as well. The property is set to benefit from several large projects in the development pipeline within Panorama City. On a 17-acre site just blocks from Brimfield Avenue, a potential 4.5-million square foot mixed-use campus is slated for the site of the existing Panorama Mall. Dubbed Panorama City Center, the project would include 125,000 square feet of retail space, 70,000 square feet of restaurant space, 90,000 square feet of entertainment space, and 146,000 square feet of open space. Perhaps the most noteworthy development project in the area is the upcoming East San Fernando Valley Light Rail Line, which will connect the Metro Orange Line, the Metrolink Train Line in Van Nuys, and the Metrolink Train Line in Sylmar/San Fernando. The majority of the new transit line will run along the median of Van Nuys Boulevard, with the Van Nuys Metrolink and the Roscoe Boulevard stations only blocks away from tenants at 7910 Brimfield Avenue. In addition to boosting commerce in the immediate area, it will also provide the benefit of more convenient transportation for the property's tenants. Continue reading
MLS#
24456379
Property Type
Cluster
Status
Bedrooms
16
Bathrooms
Year Built
1956
Square Feet
9,094 sq. ft
Lot Size
0.25
Stories
2.0

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Listed by Roderick 'Rick' Raymundo - DRE #01357019 - Marcus & Millichap 818-212-2700
Barbara Lynn Simmons, CALBRE 637579, Xome Inc., CALBRE 1932600, [email protected], 844-400-XOME (9663), 2945 Townsgate Road, Suite 200, Westlake Village, CA 91361

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This content last refreshed on 11/15/2024 4:28 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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