695 S Norton Ave - Apartments FOR SALE


Los Angeles, CA 90005- Koreatown
$3,600,000 USD
310-600-9858
695 S Norton Ave, Los Angeles, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/16
null | 4.24% Cap Rate

695 S Norton Ave
Los Angeles, CA 90005
Koreatown


HIGHLIGHTS

  • Located in Wilshire Park, arguably Koreatown's best neighborhood near the Wilshire/Crenshaw intersection
  • Consists of nine units with (1) Studio, (6) Two Bedroom Units and (2) Two Bedroom + Den units. Average 2 Bed units are 1,375 sf each
  • Current rents are below market leaving approximately $125,000 in additional upside.
  • The property offers 13 subterranean parking spots in a low density neighborhood that offers additional off-site parking
  • Located along LA Metro's D Line(Purple Line), which has plans to expand to Westwood

OVERVIEW

The James Group is proud to present 695 S. Norton Avenue — a rare 9-unit multifamily investment opportunity located in the heart of Wilshire Park, one of Koreatown’s most desirable neighborhoods. Encompassing 11,647 square feet, the property offers exceptionally large units with the two bedrooms averaging approximately 1,375 square feet each. The well-balanced unit mix includes six (6) spacious 2-bedroom, 2-bath units; two (2) 2-bedroom, 2-bath units with dens; and one (1) Studio unit. All residences are situated above a gated, subterranean parking garage with 13 spaces. Additional property features include secured entry with intercom access, gated underground parking, an elevator, and a shared laundry facility. With approximately $130,000 in rental upside (representing a 50% loss-to-lease), a new owner will have the opportunity to add significant value through interior renovations as units turn. Positioned just off Wilshire Boulevard between the Wilshire/Western and Wilshire/La Brea Metro stations, the property offers tenants seamless connectivity to both Downtown Los Angeles and the Westside

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$309 USD /SF

# OF UNITS

9

PRICE/UNIT

$400,000

CAP RATE

4.24%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

LAR1

APN/PARCEL ID

5092-007-010

ASK ABOUT THIS PROPERTY

Will JamesLyon Stahl Investment Real EstateMore Info
310-600-9858

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Will JamesLyon Stahl Investment Real EstateMore Info
310-600-9858

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