837 S Normandie Ave - Apartments FOR SALE
Los Angeles, CA 90005 |
837 S Normandie Ave
Los Angeles, CA 90005
HIGHLIGHTS
- Positive Leverage Deal – listed at a 6.61% cap rate with upside to a proforma 9.21% cap rate. The highest cap rate on the market in the 90005 zip code
- 1925 construction, 16 unit apartment building with the majority of the units recently upgraded and renovated under current ownership
- Excellent Unit Mix of (16) 1 Bed/1 Bath, with an estimated average of 625 square foot unit size
- Tremendous upside potential with 31% Remaining Rental Upside, No Soft-Story Parking Retrofit Required
- Year One 6.65% Cash on Cash Return. High Cashflow opportunity with 60% Bonus Depreciation in 2024
- Walker’s Paradise! Walk Score of 94, Only 1 Block from Retail and Restaurants on Irolo St & West 8th St
FOR SALE DETAILS
PRICE
-
# OF UNITS
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CAP RATE
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% LEASED
-
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
10252
STORIES
2
YEAR BUILT
1925
PARKING SPACES
-
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
5094-019-008
