1846 Normandie Ave - Multi-Family FOR SALE


Los Angeles, CA 90027- Los Feliz
$1,595,000 USD
818-448-4415
1846 Normandie Ave, Los Angeles, CA for Sale
$1,595,000 USD
Multi-Family - FOR SALE
1/8
null | 6.16% Cap Rate

1846 Normandie Ave
Los Angeles, CA 90027
Los Feliz


HIGHLIGHTS

  • Prime Los Feliz Location
  • Two Units Delivered Vacant
  • New Roof
  • Solid Remaining Rental Upside Potential (+45%)
  • On-Site Tuck-Under Parking
  • Great Opportunity to Convert Tuck-Under Parking into ADUs

OVERVIEW

Marcus and Millichap is pleased to present a seven (7) unit apartment building located at 1848 N Normandie Ave in Los Angeles, California. The subject property is located in a prime Los Feliz location, south of Los Feliz Blvd and west of Vermont Ave. Located in prime Los Feliz, this seven-unit asset features a strong unit mix of six one-bedroom and one two-bedroom units, with two units delivered vacant and approximately 45% remaining rental upside. Recent improvements include a new roof, while the soft story retrofit will be completed by the buyer which will have a lower cost by building the front ADU at the same time. The property offers on-site tuck-under parking with ADU conversion potential, lush landscaping, a peaceful rear patio, and on-site laundry. It benefits from dominant access to Hollywood Boulevard, Franklin Avenue, Los Feliz Boulevard, and Sunset Boulevard, as well as immediate proximity to the 101 Freeway and the Metro B Line at Hollywood/Western. Nearby attractions include Barnsdall Art Park, Fern Dell Nature Trail, Griffith Observatory, Upright Citizens Brigade Theatre, Hollywood Walk of Fame, Hollywest Promenade, and Jemma Hollywood. With two vacant units, solid remaining rental upside, and potential ADU conversion of the existing tuck-under parking, the property presents a compelling value-add investment opportunity. For OM, please visit: https://www.lamultifamilydeals.com/properties/1848-n-normandie-ave

FOR SALE DETAILS

PRICE

$1,595,000 USD

PRICE/SF

$288 USD /SF

# OF UNITS

7

PRICE/UNIT

$227,857

CAP RATE

6.16%

% LEASED

71%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,804 SF

ZONING

LAR3

APN/PARCEL ID

5589-036-020

ASK ABOUT THIS PROPERTY

Jason TuviaMarcus & MillichapMore Info
818-448-4415

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Jason TuviaMarcus & MillichapMore Info
818-448-4415

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