David Leung
SoCal Homes, Inc.
(424) 532-7059
33 Total Sales
2 in Panorama City
$790,000 Price Range
7910 Willis Ave Los Angeles, CA 91402
Panorama City Area
3
Beds
2
Baths
13,824
Sq Ft
0.84
Acre Lot
Highlights
- 0.84 Acre Lot
- Rectangular Lot
- 1-Story Property
- Landscaped
About This Home
As of November 2024These three adjacent properties on Willis Avenue in Panorama City have incredible potential. First, there is tremendous upside in rents with a projected 7.37 GRM and approximately a 10% cap rate based on market rents. Additionally, at $141,500 per unit, this is well below comparable sales given the sheer upside in rents. In addition, the property sits on 36,600 square feet of R3 zoned land with a Tier 3 TOC (70% bonus) allowing for up to 78 units to be developed.
Last Agent to Sell the Property
Warren Lee Berzack Brokerage Phone: 818-269-2979 License #01329015 Listed on: 08/07/2024
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1953
Lot Details
- 36,600 Sq Ft Lot
- Two or More Common Walls
- Landscaped
- Rectangular Lot
- 2210021031, 2210021005
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 13,824 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 40 Open Parking Spaces
- 40 Parking Spaces
- Parking Available
- Assigned Parking
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Tax Lot 29
- Tax Tract Number 1532
- Assessor Parcel Number 2210021032
- $1,285 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 24 Units
Building Details
- Rent Control
- 25 Separate Electric Meters
- 24 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $4,000
- Fuel Expense $1,000
- Gardener Expense $2,660
- Insurance Expense $12,000
- Maintenance Expense $13,824
- Other Expense $2,400
- Pest Control $756
- Professional Management Expense $14,853
- Trash Expense $8,404
- Water Sewer Expense $15,924
- New Taxes Expense $40,740
- Operating Expense $119,594
- Gross Income $281,313
- Net Operating Income $153,280
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 7, 2024
Closed on
Oct 10, 2024
Sold by
Bought by
Seller's Agent
Warren Berzack
Warren Lee Berzack
List Price
$3,395,000
Sold Price
$3,300,000
Premium/Discount to List
-$95,000
-2.8%
Views
5
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,512,500
Interest Rate
6.32%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 30, 2015
Sold by
Bought by
Purchase Details
Closed on
Jul 28, 2010
Sold by
Bought by
Purchase Details
Closed on
Nov 21, 2000
Sold by
Bought by
Purchase Details
Closed on
Oct 11, 2000
Sold by
Bought by
Purchase Details
Closed on
Mar 28, 1997
Sold by
Bought by
Purchase Details
Closed on
May 1, 1993
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Los Angeles, CA
-
David Leung
-
Arthur Ambarchyan
Arthur Ambarchyan
Responds QuicklyKeller Williams R. E. Services
(747) 271-1402
79 Total Sales
1 in Panorama City
$508,000 Price
-
Gerry Nicks
Gerry Nicks
Responds QuicklyKeller Williams Realty
(424) 370-0766
167 Total Sales
2 in Panorama City
$410K - $501K Price Range
-
Henry Avalos
Henry Avalos
777 Real Estate & Investments
(818) 946-0112
30 Total Sales
1 in Panorama City
$400,000 Price
-
Linda Ojeda
Linda Ojeda
Luxury Collective
(424) 372-0165
112 Total Sales
1 in Panorama City
$397,000 Price
-
Rodrigo Suerte Felipe
Rodrigo Suerte Felipe
eXp Realty of California Inc
(661) 592-1144
76 Total Sales
3 in Panorama City
$675K - $725K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $3,300,000 | Ticor Title Company | ||
| -- | None Available | ||
| $189,500 | Stewart | ||
| $125,500 | Stewart | ||
| -- | None Available | ||
| -- | None Available | ||
| -- | -- | ||
| $64,000 | None Available | ||
| -- | -- | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $2,512,500 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/26/2024 11/26/24 | Sold | $3,300,000 | -2.8% | $239 / Sq Ft |
| 08/30/2024 08/30/24 | Pending | -- | -- | -- |
| 08/07/2024 08/07/24 | For Sale | $3,395,000 | -- | $246 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $19,385 | $1,520,000 | $912,000 | $608,000 |
| 2024 | $10,016 | $728,164 | $490,653 | $237,511 |
| 2023 | $9,843 | $713,887 | $481,033 | $232,854 |
| 2022 | $9,428 | $699,890 | $471,601 | $228,289 |
| 2021 | $9,300 | $686,167 | $462,354 | $223,813 |
| 2019 | $9,049 | $668,118 | $448,642 | $219,476 |
| 2018 | $8,838 | $655,064 | $439,846 | $215,218 |
| 2016 | $8,390 | $627,418 | $422,767 | $204,651 |
| 2015 | $4,094 | $266,974 | $123,393 | $143,581 |
| 2014 | $4,164 | $261,745 | $120,976 | $140,769 |
Source: Public Records
Agents Affiliated with this Home
-
Warren Berzack
Seller's Agent in 2024
Warren Berzack
Warren Lee Berzack
(818) 986-9800
20 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR24163292
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. 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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