1046 S Norton Ave - Apartments FOR SALE


Los Angeles, CA 90019- Arlington Heights
$2,295,000 USD
310-202-9166
1046 S Norton Ave, Los Angeles, CA for Sale
$2,295,000 USD
Apartments - FOR SALE
1/13
null | 4.66% Cap Rate

1046 S Norton Ave
Los Angeles, CA 90019
Arlington Heights


HIGHLIGHTS

  • Prime Mid-City / Arlington Heights location - 86 Walk Score!
  • 9 units with a desirable unit mix of (1) studio, (2) 1 BR + 1 Bath, (5) 2 BR + 1 Bath & (1) 3 BR + 2 Bath
  • Capital improvements include a new roof (installed in 2022), updated plumbing, updated electrical and updates to the front gate.
  • Majority of units have received tasteful renovations
  • Below market rents. Value-add opportunity
  • Additional income generated from laundry and parking

OVERVIEW

1046 S. Norton Ave is a 9 unit apartment building in an excellent Mid-City / Arlington Heights location just south of Olympic and west of Arlington Ave. This large two story property was built in 1962 and is approximately 7,952 SqFt. The property has a desirable unit mix with five (5) 2 BR + 1 Bath, (2) 1 BR + 1 Bath, (1) 3 BR + 2 Bath and (1) studio unit. The rents are below market creating a quintessential value-add opportunity. Current ownership has done significant capital improvements which includes a brand now roof installed in 2022. Additionally the plumbing has been updated to all copper, updates to the front gate, new dual glass windows have been installed and the entire electrical system has been updated. The majority of the units have received renovations with new kitchen appliances, hardwood floors and updated bathrooms. None of the units are currently vacant and two of the tenants pay an additional $100 a month for an extra parking space. 1046 S. Norton Ave., provides an excellent multi-family investment opportunity in one of the most highly sought after rental locations in all of Los Angeles.

FOR SALE DETAILS

PRICE

$2,295,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

9

PRICE/UNIT

$255,000

CAP RATE

4.66%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

LAR3

APN/PARCEL ID

5081-010-008

ASK ABOUT THIS PROPERTY

Carolyn SchneiderMiller & Desatnik Realty Corp.More Info
310-202-9166

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Carolyn SchneiderMiller & Desatnik Realty Corp.More Info
310-202-9166

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.