11700 S Normandie Ave - Apartments FOR SALE


Los Angeles, CA 90044- West Athens
$1,545,000 USD
310-466-0888
11700 S Normandie Ave, Los Angeles, CA for Sale
$1,545,000 USD
Apartments - FOR SALE
1/17
null | 6% Cap Rate

11700 S Normandie Ave
Los Angeles, CA 90044
West Athens


HIGHLIGHTS

  • Opportunity Zone
  • All 2 bedroom units
  • Large Lot - Room for ADU

OVERVIEW

6-unit multifamily investment located at 11700 South Normandie Avenue in the 90044 zip code of Los Angeles. The 3,648 square foot subject property sits on a 8,112 square foot lot and with close proximity to the 105 Freeway as well as multiple educational institutions such as Los Angeles Southwest College, Saint Frances X Cabrini Catholic School, and West Athens Elementary, making it a perfect living place for tenants with children, or those continuing their higher education. The subject property has a very attractive unit mix of all 2 Bedroom / 1 Bathroom units and is currently 100% occupied. Five of the six units are being occupied by Section 8 tenants, providing a new investor stable and secure income. The subject property sits in one of LAs Qualified Opportunity Zones, which enables the new investor the opportunity to forego all capital gains taxes on the exit after ample renovation and a 10-year hold. Another way a savvy investor could add significant value would be to utilize the new ADU program that was rolled out state-wide at the beginning of 2020. The program would allow the addition of two, 2 Bedroom / 2 Bathroom units which would generate roughly $50,000 of extra rental income every year and add approx $600,000 of property value. This new program is being utilized all over the city as it has offered investors an easy road map to increase income.

FOR SALE DETAILS

PRICE

$1,545,000 USD

PRICE/SF

$424 USD /SF

# OF UNITS

6

PRICE/UNIT

$257,500

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Normandie

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,111 SF

ZONING

LCR3YY

APN/PARCEL ID

6079-008-025

ASK ABOUT THIS PROPERTY

Alex GaluzKW CommercialMore Info
310-466-0888

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Alex GaluzKW CommercialMore Info
310-466-0888

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