837 S Normandie Avenue

    Los Angeles (City), CA 90005
    • $3,700,000
    • STATUS: Active
    • ON SITE: 46 days
    • ID#: 18402246
    UPDATED: 59 min ago
    $3,700,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,252
      SQFT
    • $361
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:

    School Ratings & Info

    Description

    We are pleased to present the Normandie Apartments: a 16 unit Multifamily Investment located in Koreatown. The property is a two story, wood frame stucco building built in 1925 and features 16 spacious 1BR+1BA Units. The property is on a 7,445 SF lot zoned R4. The owners have been meticulous over their renovations to the interior and exterior of the property. Over half of the units have been extensively remodeled with new high gloss laminate flooring, quartz counter tops, glass backsplash, new stainless steel appliances, new paint, recessed lighting, new fixtures, energy efficient LED lighting, and modern cabinets in the kitchens and bathrooms. The common areas were modernized with new tile flooring, new paint, recessed LED lighting, and new paint and fixtures. The property exterior was also updated with a new roof, new paint, and new landscaping. The property presents the opportunity for an investor to purchase an amazing stabilized asset operating at a 4.48% CAP on Current Rents.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-16T21:26:51.247. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.impactca.com/homes/88999578

    837 S Normandie Avenue Los Angeles (City), CA 90005

    • Price: $3,700,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: 18402246
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    10,252
    SQFT
    $361
    $/SQFT
    1925
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    We are pleased to present the Normandie Apartments: a 16 unit Multifamily Investment located in Koreatown. The property is a two story, wood frame stucco building built in 1925 and features 16 spacious 1BR+1BA Units. The property is on a 7,445 SF lot zoned R4. The owners have been meticulous over their renovations to the interior and exterior of the property. Over half of the units have been extensively remodeled with new high gloss laminate flooring, quartz counter tops, glass backsplash, new stainless steel appliances, new paint, recessed lighting, new fixtures, energy efficient LED lighting, and modern cabinets in the kitchens and bathrooms. The common areas were modernized with new tile flooring, new paint, recessed LED lighting, and new paint and fixtures. The property exterior was also updated with a new roof, new paint, and new landscaping. The property presents the opportunity for an investor to purchase an amazing stabilized asset operating at a 4.48% CAP on Current Rents.
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.48 Gross Multiplier 13.99 Gross Operating Income 256727.00 Improvements Amount 683466 Land Value 1594754 Laundry YN Yes Net Operating Income 165634.00 Other Income1 385.00 Special Listing Conditions Standard Total Expenses 91092.00 Zoning Lar4

    Listing provided courtesy of Jonathan Prakash of Keller Williams Silicon Beach and Derrick Vartanian of .


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-16T21:26:51.247. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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