7910 Brimfield Avenue

Panorama City, CA 91402

$2,215,000
Price
16
Beds
14
Baths
9,094 Sq. Ft.
$244 / Sq. Ft.
9,094
Sq. Ft.
$244
per Sq. Ft.

Description

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 while 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...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 while 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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 7910 Brimfield Avenue

Zoning
LAR3
Parcel Number
2209041002
Total Units
14.0
Living Area
9094
Source Living Area
Vendor Enhanced
Area
Panorama City (PC)
Vacancy Rate
0
Lot Size Area
10913
LISTING UPDATED: 11/14/2024 12:01 AM

Property Details for 7910 Brimfield Avenue

StatusActive
MLS #24-456379
Days on Market54
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
Lot Size0.25 AC / 10,913 SF
CountyLos Angeles County

Building Information for 7910 Brimfield Avenue

Stories2Residences-Year Built1956Building Size-Lot Size0.25 AC / 10,913 SF

Property Information for 7910 Brimfield Avenue

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $187,522
  • Net Operating Income: $108,142.00
  • Gross Income: $182,868
  • Gross Rent Multiplier: $11.48
  • Total Annual Expense: 79380
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2506
  • Lot Size Square Feet: 10913
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 14
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 11-06-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,059.00
  • Unit Actual Rent: $12,715.00
  • Unit Projected Rent: $20,400.00
  • Like Units: 12
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,262.00
  • Unit Actual Rent: $2,524.00
  • Unit Projected Rent: $3,890.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,432,674.00
  • Assessed Improvement Percent: 59.95
  • Assessed Land Value: $956,939.00
  • Assessed Land Percent: 40.05
  • Assessed Total Value: $2,389,613.00

Property History for 7910 Brimfield Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7910 Brimfield Avenue

Taxable ValueLand$976,077Additions$1,465,527Total$2,441,604
Tax Record2024$30,896 ($2,575 / month)
Home Facts
Total Finished SqFt9,094 SqFtAbove Grade Finished SqFt9,094 SqFtLot Size10,913 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningLAR3CountyLOS ANGELESAPN2209-041-002

Schools near 7910 Brimfield 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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7910 Brimfield Avenue is a multi-family home for sale in Panorama City, CA 91402. This property was listed for sale on November 6, 2024 by Marcus & Millichap, it's currently listed at $2,215,000. It has been on the market for a total of 54 days and was last sold on March 26, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Michelle Obama Elementary, Vista Middle School and Panorama High School. 7910 Brimfield Avenue is a 16-bed, 14-bath, 9,094 sqft multi-family home built in 1956.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.