Property listed by Re/Max Tri-City Realty, Arthur Mangassarian 818-636-8899
$1,610,000
Owner retiring priced to sell. Owner might carry financing with min of 25% to 30% down 3- to 5 years interest only at amazing rate Excellent to add one or two ADU and still have lots of parking. This 4,724 sq. ft. multifamily apartment building offers a… Read More compelling investment opportunity in the heart of Panorama City. Built in 1976, the property comprises 9 one-bedroom, one-bathroom units, each featuring spacious floor plans. The building is situated on a 0.20-acre lot, providing ample space for residents. With a 100% occupancy rate, this property demonstrates strong rental demand and consistent income potential. Located between Sepulveda and Van Nuys on Parthenia, the property offers convenient access to major freeways, including the 405, 170, and 101. Residents benefit from proximity to the Sepulveda Recreation Center, North Hills Park, Walmart, Panorama Mall, and the LA Kings Valley Ice Center. The neighborhood boasts a walk score of 66, indicating a somewhat walkable environment, and a transit score of 52, reflecting good public transportation options. With a fully leased status and a strong rental demand in the area, this property presents a stable income-generating asset. The combina- tion of its strategic location, well-maintained units, and favorable financial metrics makes it an attractive option for investors seeking long-term growth and consistent cash flow. Read Less
Listing Snapshot
Days Online
41
Last Updated
Property Type
Apartment
Lot Size
0.19 Acres
Year Built
1976
MLS Number
GD25164884
30 Days Snapshot Of 91402
$617k
-7%
(avg) sold price
10
-41%
homes sold
106
+49%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1976, Building area total: 4,724, Levels: Two, 2 stories, 1 building, Architectural style: , Attached, Common walls: OneCommonWall
Community
Curbs
Expenses
Electric expense: $8,000, Insurance expense: $4,600, Operating expense: $48,780, Trash expense: $5,304, Water sewer expense: $7,000
Floors
Carpet, Laminate
Garage
11 spaces
Income
Gross income: $123,000, Net operating income: $73,735
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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