$ 1,600,000
-
$1,600,000
Price -
1
Bed -
3
Bath -
5,872
SqFt -
0.15
Acre
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About the Listing CLW-X82195 - CLW-X93306,CLW-C138168
The subject property is a 13-unit apartment building located at 916 S. Normandie Ave in Los Angeles. Built in 1957 and zoned LAR3, the property consists of (3) Bachelors (8) 1 Bed, 1 Bath units, and (2) Studio, 1 Bath units, totaling 8,285 rentable square feet on a 6,399-square-foot lot. The property is offered at an attractive basis of $123,000 per unit and $272 per square foot, while generating a compelling 5.97% in-place cap rate and 8.95 GRM. The asset will be delivered with four vacant units, providing the next owner with an immediate opportunity to lease units at current market rents and enhance cash flow from day one. With approximately 41% rental upside embedded in the existing rent roll, the property offers significant value-add potential, with the pro forma cap rate approaching 11% as rents are brought to market.
Listing Highlights for 916 S Normandie Ave
Interior Details
- Bedrooms: 1
- Bathrooms: 3 Full
- Appliances: Refrigerator
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 9
- Zoning: LAR4
- Roof:
- Others: Stucco,2+ Total Units
- Sewer:
- Parking Features: Attached Carport,Assigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5094022005
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
916 S Normandie Ave Los Angeles, CA 90006
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