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.
Property Details
Property Features
Property Information:
Year Built: 1964
Stories: 2
Living Area: 7,188 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Roderick 'Rick' Raymundo
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 2
Exterior Features
Parking Information:
Parking: Assigned
Lot Features
Lot Information:
Lot Size: 0.17 Acres
Utilities
Utilities Information:
Cooling: None
School Info
Assigned Schools Information:
Panorama High School, Public District Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Vista Middle School, Public District Grades 6-8
Studio, Public District Grades 6-8
Academy For Enriched Sciences, Public Magnet Grades 1-5
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Other
Directions Information:
Directions: We are pleased to announce the opportunity to purchase 8407 Cedros Avenue, a 16-unit multifamily property located near the intersection of Van Nuys Boulevard and Roscoe Boulevard in Panorama City, CA.
Price Information
Listing Price Info
Price Summary:
List Price: $2,700,000
Price Per SqFt: $376/SqFt
Tax Information:
Annual Amount: $18,925
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $1.7M more than the Median Sold Price and $252/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #23239475
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Roderick 'Rick' Raymundo
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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/28/2024, 10:25:19 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Sep 19, 2008
Sep 19, 2008Home Sold
$1,260,000
Nov 30, 2000
Nov 30, 2000Home Sold
$355,000
Jan 18, 1989
Jan 18, 1989Home Sold
$530,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$18,925
$1,499,007
2020
$18,381
$1,483,637
2019
$18,237
$1,454,547
2018
$17,812
$1,426,028
2017
$17,812
$1,398,068
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school11.38 miles
Public Magnet Grades 1-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school11.45 miles
Public Magnet Grades KG-6
Middle School
3
/10
Vista Middle School
15040 Roscoe Blvd
Distance between this listing and this school0.43 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school14.90 miles
Public District Grades 6-8
High School
2
/10
Panorama High School
8015 Van Nuys Blvd
Distance between this listing and this school0.55 miles
Public District Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school3.54 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school18.89 miles
Public Magnet Grades 9-12
Assigned Schools
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school11.38 miles
Public Magnet Grades 1-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school11.45 miles
Public Magnet Grades KG-6
Nearby Schools
5
/10
Panorama City Elementary School
8600 Kester Ave
Distance between this listing and this school0.29 miles
Public District Grades KG-5
Assigned Schools
3
/10
Vista Middle School
15040 Roscoe Blvd
Distance between this listing and this school0.43 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school14.90 miles
Public District Grades 6-8
Nearby Schools
5
/10
Valor Academy Charter
8015 Van Nuys Blvd
Distance between this listing and this school0.55 miles
Public Charter Grades 5-8
Assigned Schools
2
/10
Panorama High School
8015 Van Nuys Blvd
Distance between this listing and this school0.55 miles
Public District Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school3.54 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school18.89 miles
The neighbors living near this home have an average income of $34,274. Typical income of Los Angeles, CA residents is less than $35k annually. The most common type of family is married, with kids. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 8407 Cedros Ave
What is the listing price of this property?
The listing price of 8407 Cedros Ave property is $2,700,000.
What type of property is this?
The property 8407 Cedros Ave is a house located in Panorama City, California, 91402.
Is this property for sale now?
Active Listing: 8407 Cedros Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 8407 Cedros Ave are: Academy For Enriched Sciences: GreatSchools Rating 9/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Vista Middle School: GreatSchools Rating 3/10Studio: GreatSchools Rating 4/10Panorama High School: GreatSchools Rating 2/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $18,925 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on September 19, 2008 for $1,260,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 8407 Cedros Ave has 2 bedrooms and 16 bathrooms.
What is the square footage of this property?
The property 8407 Cedros Ave is 7,188 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 8407 Cedros Ave is 1964.
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This home is located at 8407 Cedros Ave in Panorama City, CA and zip code 91402 in the The San Fernando Valley neighborhood. This 7,188 square foot home, which was built in 1964, sits on a 0.17 acre lot. Features: 2 bedrooms, 16 bathrooms. It has been listed on Rocket Homes since February 08, 2023 and is currently priced at $2,700,000.
Los Angeles, CA housing market in March 2024 saw over 628 listings sold above listed price, more than 196 sold at listed price and over 579 sold below. Between February 2024 and March 2024, Los Angeles, CA real estate market has seen increase in the number of listings by 10.8%. Listings spent 34 days on the market in March 2024, and had a median list price of $975,970 during the same period.
From Rocket Homes Real Estate and based on county public records data.
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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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