254 S Normandie Ave - Apartments FOR SALE


Los Angeles, CA 90004- Koreatown
$2,200,000 USD
310-270-6616
254 S Normandie Ave, Los Angeles, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/32
null | 5.48% Cap Rate

254 S Normandie Ave
Los Angeles, CA 90004
Koreatown


HIGHLIGHTS

  • Significant potential upside of 115% to non-renovated units. 6/12 units renovated.
  • Some tenants have expressed interest in relocation. DO NOT APPROACH OR DISTURB TENANTS.
  • New elastomeric roof coating, copper plumbing and new electrical in renovated units.
  • Well-parked: 15 parking spaces, 8 tandem tuck under, 4 detached, 3 garage entry.
  • Onsite laundry room. No onsite manager required.
  • Walking distance to major intersection with multiple retail strip centers, bus stops, and schools.

OVERVIEW

JNM Realty exclusively presents 254 S. Normandie Avenue, a well-maintained 12-unit apartment community featuring an attractive unit mix of five (5) studio units and seven (7) one-bedroom, one-bathroom units. There are fifteen (15) onsite parking spaces including three (3) attached garages, eight (8) tandem spaces, and four (4) detached covered spaces. Soft-story retrofit was completed in 2024. The property offers approximately 33% upside to current rents and more than 115% upside potential among the non-renovated units. The six (6) renovated units feature upgraded electrical including subpanels, copper plumbing, and a full high end renovation of the entire unit. Property upgrades include an upgraded electrical master panel and a new multi-layer elastomeric roof coating. The property has been meticulously maintained throughout the current ownership's tenure of more than 10 years. A detached parking area may also provide additional development potential through constructing accessory dwelling units. Located near the high-traffic intersection of Normandie Avenue and 3rd Street, the property is within walking distance of neighborhood retail, dining, and multiple Metro bus lines. 254 S. Normandie Avenue presents an exceptional opportunity to acquire a well-located multifamily asset with strong in-place fundamentals and meaningful long-term upside.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$291 USD /SF

# OF UNITS

12

PRICE/UNIT

$183,333

CAP RATE

5.48%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Le Roi

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

LAR4

APN/PARCEL ID

5518-007-022

ASK ABOUT THIS PROPERTY

Demis DokhanianJNM RealtyMore Info
310-270-6616

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Demis DokhanianJNM RealtyMore Info
310-270-6616

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