Panorama City, CA Ranch

Situated in a pleasant and well-maintained neighbor- hood, this cute Panorama City 2-bedroom ranch is listed for $239,900. The San Fernando Valley, north of Los Angeles, is typical of many areas that saw booming real estate values in recent years… a wave of foreclosures is now allowing many house buyers to get into properties at exceptionally reasonable prices compared to what one could get 2 or 3 years ago. This house’s last owner paid $430,000 for it (11/1/2006), and Zillow.com now deems this house to be worth $340,000 --- that is over 40% higher than the current listing price.


It appears that this place is in good condition, and is pretty much ready for occupancy, so little or no time or money will be wasted with renovation work or repairs. The house is situated on a nice lot and has a [sort of rough-looking] shed and a charming gazebo. The garage has already been converted to a third bedroom, but there is a good chance that this was done without a permit, so it can’t be counted as actual living space. This house could be rented for $1,500 to $1,800 which could make it a decent rental property for an investor. Or alternately, an owner-occupant could enjoy a nice home for about the cost of renting a comparable place, and get pretty good tax breaks while building long-term equity to boot.



The basics...
Address: 15219 Cantara Street, Panorama City, CA 91402
Current Listing Price: $239,900
PREVIOUS Sale Price: $430,000
Size: 2 Bedrooms, 1 Bathroom
Lot: .14 acres

http://www.realtor.com/realestate/panorama+city-ca-91402-1100599943/