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8407 Cedros Ave, Panorama City, CA 91402
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8407 Cedros Ave Panorama City, CA 91402

$2,560,000
  • 2 Beds
  • 16 Baths
  • 7,188 Sq.Ft.
For Sale
$2,560,000 Get Pre-Qualified
Map preview of 8407 Cedros Ave, Panorama City, CA 91402

Property Overview: 8407 Cedros Ave Panorama City, CA has 2 bedrooms, 16 bathrooms, 7,188 living square feet and 7,523 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are proud to represent this 16 unit building in Panorama City. The building was constructed in 1978. Its unit mix consists of (2) 1+1 units and (14) studio units. With a lot size of 7,545 square feet, the property has a total of 7,188 rentable square feet. Located in the heart of the San Fernando Valley, Panorama City, CA, offers a dynamic and convenient lifestyle perfect for families and professionals alike. The city features a variety of shopping centers, diverse dining options, and excellent schools, making it an ideal place to live. With easy access to major freeways and public transportation, residents can enjoy seamless connectivity to the greater Los Angeles area. The property is separately metered for gas and electricity.

Listed by Cindy Hill | BRE #00885625 | Equity Union
Last checked: 12 minutes ago | Last updated: May 31st, 2024 | Source CRMLS | DOM: 1
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Home details

Lot Sq. Ft
7,523
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Apartment
Status
Active
MLS#
SR24110356
City
Panorama City
County
Los Angeles
Time on Site
1 day
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
  • # of Electric Meters: 14
  • # of Gas Meters: 14
  • # of Water Meters: 14
Unit Breakdown 1
  • # of Units: 14
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,023
  • Total Rent: $14,325
  • Pro Forma/Market Rent: $22,400
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,306
  • Total Rent: $2,611
  • Pro Forma/Market Rent: $3,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $203,232
  • Net Operating Income: $139,711
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $62,524
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $5,300
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $10,440

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Property Details for 8407 Cedros Ave

Interior Features
Heating Information
  • Has Heating
  • Radiant
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Rectangular Lot
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 16
  • Parcel Number: 2653019014
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Just off the intersection of Van Nuys Blvd. and Roscoe Blvd.
Neighborhood Information
  • Community Features: Suburban, Urban, Valley
View more facts & features

Local Panorama City Agent

Sale History for 8407 Cedros Ave

Last sold on September 19th, 2008

  • May, 2024

  • May 31, 2024

    Date

    Active

    CRMLS: SR24110356

    $2,560,000

    Price

  • May, 2024

  • May 30, 2024

    Date

    Canceled

    CRMLS: 23239475

    $2,700,000

    Price

  • Feb 7, 2023

    Date

    Active

    CRMLS: 23239475

    $2,715,000

    Price

  • Listing provided courtesy of CRMLS

    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.

  • September, 2008

  • Sep 19, 2008

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • June, 2005

  • Jun 3, 2005

    Date

    Sold (Public Records)

    Public Records

    $390,000

    Price

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Tax History for 8407 Cedros Ave

Assessed Value (2020): $1,483,637
Year Land Value Improved Value Assessed Value
2020 $894,892 $588,745 $1,483,637

Home Value Compared to the Market

This property vs the competition

8407 Cedros Ave is listed 266.24% higher than the median list price for the city of Panorama City which has a median list price of $699,000. The median price per/sqft for Panorama City is $462 and this home is listed at $356.15 per/sqft which puts the price per square foot 22.91% lower than the median price per square foot for the city of Panorama City.

About 8407 Cedros Ave

Detailed summary of property

8407 Cedros Ave is a apartment located in Panorama City, CA 91402 and is currently for sale. This apartment offers 2 bedrooms, 16 bathrooms, roughly 7,188 living square feet, and sits on an approximately 7,523 square foot lot. 8407 Cedros Ave was first listed on ArdentRealEstateGroup.com on May 31, 2024. The homeowner is currently asking $2,560,000. The median priced home in Panorama City is $699,000 with a median price per square foot of $462. Based on Ardent Real Estate Group's Panorama City Market Data, this home is listed 266.24% higher than the median priced home. Local competing homes currently for sale include 12188 W Sunset Blvd, 12188 W Sunset Blvd and 12214 W Sunset Blvd. While the average home in Panorama City, CA is selling in 67 days, 8407 Cedros Ave has a days on market of 1 days. There are currently 44 homes for sale in the Panorama City real estate market and 25 of them are single family homes while 11 of them are condos and 8 are townhomes. For more information on this home for sale at 8407 Cedros Ave Panorama City, CA 91402 contact Ardent Real Estate Group and we will put you in touch with one of our Panorama City agents.

Public Facts for 8407 Cedros Ave

Public county record property details
Beds
16
Baths
16
Year built
1964
Sq. Ft.
7,188
Lot Size
7,545
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
147
APN
2653-019-014

The source for these homes facts are from public records.

91402 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$660,000
Median List Price/Sq.Ft.
$457
Median Sold Price
$775,000
Median Sold Price/Sq.Ft.
$462
Total Inventory
43
Median Sale to List Price %
103.33%
Avg Days on Market
36
Loan Type
Conventional (47.37%), FHA (26.32%), VA (0%), Cash (5.26%), Other (5.26%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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