8407 Cedros Avenue
8407 Cedros Avenue
$2,700,000
2
16
7,188
7,188
$376
Description
Set to benefit immensely from its position in the path of development, the property sits only one block from the planned 4.5 million square foot mixed-use development slated for the site of the existing Panorama Mall. Included in the proposal are 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. That project intends to capitalize on the upcoming East San Fernando Valley Light Rail Line, which...Set to benefit immensely from its position in the path of development, the property sits only one block from the planned 4.5 million square foot mixed-use development slated for the site of the existing Panorama Mall. Included in the proposal are 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. That project intends to capitalize on the upcoming East San Fernando Valley Light Rail Line, which will include a Metro stop just two blocks from 8407 Cedros Avenue. Perhaps the most noteworthy development project currently in the San Fernando Valley, the light rail line 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 a station planned just two blocks from 8407 Cedros 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. With current rents approximately 42% below market rates, a new owner can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. The building already features full copper plumbing, allowing an investor to enter the Los Angeles market at an attractively low $168,750 per unit with reduced maintenance costs. The existing loan may be assumable, allowing an investor to benefit from the low 3.14% interest rate as well. An additional revenue stream is provided by the on-site laundry facilities.
- Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 8407 Cedros Avenue
Zoning
LAR4
Parcel Number2653019014
Total Units16.0
Living Area7188
Source Living AreaAssessor
AreaPanorama City (PC)
Vacancy Rate0
Lot Size Area7545
Location
LISTING UPDATED: 02/08/2024 04:33 PM
Property Details for 8407 Cedros Avenue
Status | Active |
---|---|
MLS # | 23-239475 |
Days on Market | 438 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1964 |
Lot Size | 0.17 AC / 7,545 SF |
County | Los Angeles County |
Location
Building Information for 8407 Cedros Avenue
Stories2Residences-Year Built1964Building Size-Lot Size0.17 AC / 7,545 SF
Payment Calculator
$16,408 per month
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Property Information for 8407 Cedros Avenue
Property History for 8407 Cedros Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 8407 Cedros Avenue
Taxable ValueLand$940,690Additions$618,874Total$1,559,564
Tax Record2023$20,079 ($1,673 / month)
Home Facts
Total Finished SqFt7,188 SqFtAbove Grade Finished SqFt7,188 SqFtLot Size7,545 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR4CountyLOS ANGELESAPN2653-019-014
Schools near 8407 Cedros Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Michelle Obama Elementary PublicK to 5 | ||
Vista Middle School Public6 to 8 | ||
Panorama High School Public9 to 12 | ||
Cal Burke High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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