1848 N Normandie Ave - Apartments FOR SALE


Los Angeles, CA 90027- Los Feliz
$1,750,000 USD
818-448-4415
1848 N Normandie Ave, Los Angeles, CA for Sale
$1,750,000 USD
Apartments - FOR SALE
1/7
null | 5.5% Cap Rate

1848 N Normandie Ave
Los Angeles, CA 90027
Los Feliz


HIGHLIGHTS

  • Prime Los Feliz Locaiton
  • Good Unit Mix
  • Two Units Delivered Vacant
  • Solid Remaining Rental Upside Potential (+45%)
  • New Roof
  • On-Site Tuck-Under Parking - Needs to be Retrofitted

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

$1,750,000 USD

PRICE/SF

$222 USD /SF

# OF UNITS

7

PRICE/UNIT

$250,000

CAP RATE

5.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

8

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.