4115 Normal Ave

Los Angeles, CA 90029

$4,720,000
Last Sold Price
4
Beds
24
Baths
13,956 Sq. Ft.
$338 / Sq. Ft.
13,956
Sq. Ft.
$338
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Sold 4/19/24
Sold 4/19/24
a view of a building with a outdoor space
a view of a brick building from a balcony
a view of a white building with many windows
a living room with furniture and a large window
a kitchen with stainless steel appliances granite countertop a sink and a stove
an empty room with wooden floor and windows
a utility room with dryer and washer

Description

Excellent Assumable Debt - $2,700,000 loan, fixed 3.2% interest-only until April 2027 We are pleased to present 4115 Normal Avenue, a 12-unit value-add apartment building located in Silver Lake. The building was constructed in 1988 so it is not subject to LA City Rent Control (only subject to California State Rent Control). The building consists of (8) two bedroom/one bath units and (4) two bedroom/two bath units. Select units have been remodeled and feature vinyl wood flooring, recessed lighting,...Excellent Assumable Debt - $2,700,000 loan, fixed 3.2% interest-only until April 2027 We are pleased to present 4115 Normal Avenue, a 12-unit value-add apartment building located in Silver Lake. The building was constructed in 1988 so it is not subject to LA City Rent Control (only subject to California State Rent Control). The building consists of (8) two bedroom/one bath units and (4) two bedroom/two bath units. Select units have been remodeled and feature vinyl wood flooring, recessed lighting, new windows, central heat/air-condition, washer/dryers, remodeled bathrooms and kitchens with new shaker cabinets, stone countertops and stainless-steel appliances (gas range oven, refrigerator, dishwasher, microwave). The property features gated entry, secured covered parking and a laundry facility and sits on a 9,299 square foot lot that is LARD 1.5 zoned. This is a great opportunity for an investor who is looking for a value-add property with a favorable unit mix located in an excellent rental submarket that is not subject to City of Los Angeles Rent Control. Existing ownership has been successful in achieving top of the market rents for renovated units. New ownership has an opportunity to realize remaining potential rental upside by continuing the current renovation program to unit interiors as existing tenants move out. 4115 Normal Avenue is located in trendy Silver Lake, which has long been one of the most sought-after rental submarkets in Los Angeles. The property boasts a Walk Score of 90 as it is just a half block from chic retail, restaurants, bars, cafes and coffee shops along Virgil Avenue. The property is also just a short drive to Koreatown, Hollywood, West Hollywood, Echo Park and Downtown Los Angeles. The property is conveniently located close to the 101 freeway and just 0.5 miles from the Vermont/Beverly Metro D Line Station offering a viable public transportation option for commuters headed to Downtown Los Angeles or North Hollywood. Building is made up of 11-units and 1 ADU
  1. Listed by Matthew Ziegler • DRE #01280909 • Brokerage DRE #01240999 • Marcus & Millichap
  2. Listed by Jeffrey Louks • DRE #00908473 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 4115 Normal Avenue

Parcel Number
5539012019
Total Units
12.0
Living Area
13956
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
3%
Lot Size Area
9299
Source Lot Size Area
Other
LISTING UPDATED: 04/22/2024 09:34 AM

Property Details for 4115 Normal Avenue

StatusSold
MLS #24-355999
Days on Market33
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.21 AC / 9,299 SF
CountyLos Angeles County
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Location

Listing Courtesy of Marcus & Millichap, Matthew Ziegler, DRE #01280909; Marcus & Millichap, Jeffrey Louks, DRE #00908473

Sold By COMPASS, Renee Meyer, DRE #02189279; COMPASS, Jason Winicki, DRE #01891204

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Building Information for 4115 Normal Avenue

Stories2Residences-Year Built1988Building Size-Lot Size0.21 AC / 9,299 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage1

$27,946 per month

30 year fixed, 6.15% Interest

Principal and Interest

$23,004

Property Taxes

$4,942

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 4115 Normal Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $384,358
  • Net Operating Income: $251,365.00
  • Gross Income: $396,207
  • Gross Scheduled Income: $396,207
  • Cap Rate: 4.65%
  • Gross Rent Multiplier: $13.67
  • Total Annual Expense: 132993
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2135
  • Lot Size Square Feet: 9299
  • Lot Size Dimensions: 60x155
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 15
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Garbage Disposal, Refrigerator, Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-07-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,729.00
  • Unit Actual Rent: $21,831.00
  • Unit Projected Rent: $30,000.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,771.00
  • Unit Actual Rent: $11,083.00
  • Unit Projected Rent: $16,200.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,208,700.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $2,820,300.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $4,029,000.00

Property History for 4115 Normal Avenue

DateEvent & SourcePriceAppreciation
Apr 19, 2024

Sold

CRMLS #24355999

$4,720,000—
Apr 19, 2024

Sold

SDMLS #24-355999

$4,720,000—
Apr 19, 2024

Sold

CLAW #24-355999

$4,720,000—
Mar 11, 2024

Pending

SDMLS #24-355999

—
Mar 11, 2024

Pending

CLAW #24-355999

—
Mar 10, 2024

Pending

CRMLS #24355999

—
Feb 23, 2024

Sold (Public Record)

Public Record #1530901072

$4,720,000

+8.2% / yr

Feb 7, 2024

Listed (Active)

SDMLS #24-355999

$5,400,000—
Feb 7, 2024

Listed (Active)

CRMLS #24355999

$5,400,000—
Feb 7, 2024

Listed (Active)

CLAW #24-355999

$5,400,000—
Nov 19, 2021

Sold (Public Record)

Public Record #1479303659

$3,950,000

+8.5% / yr

Jan 3, 2002

Sold (Public Record)

Public Record #82217265

$778,000—
DateEvent & SourcePrice
04/19/2024

Sold

CRMLS #24355999

$4,720,000
04/19/2024

Sold

SDMLS #24-355999

$4,720,000
04/19/2024

Sold

CLAW #24-355999

$4,720,000
03/11/2024

Pending

SDMLS #24-355999

—
03/11/2024

Pending

CLAW #24-355999

—
03/10/2024

Pending

CRMLS #24355999

—
02/23/2024

Sold (Public Record)

Public Record #1530901072

$4,720,000

+8.2% / yr

02/07/2024

Listed (Active)

SDMLS #24-355999

$5,400,000
02/07/2024

Listed (Active)

CRMLS #24355999

$5,400,000
02/07/2024

Listed (Active)

CLAW #24-355999

$5,400,000
11/19/2021

Sold (Public Record)

Public Record #1479303659

$3,950,000

+8.5% / yr

01/03/2002

Sold (Public Record)

Public Record #82217265

$778,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 4115 Normal Avenue

Taxable ValueLand$1,754,400Additions$3,066,000Total$4,820,400
Tax Record2025$59,299 ($4,942 / month)
Home Facts
Total Finished SqFt13,956 SqFtAbove Grade Finished SqFt13,956 SqFtStories1Lot Size9,300 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningLARD1.5CountyLOS ANGELESAPN5539-012-019

Schools near 4115 Normal Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Lockwood Avenue Elementary School
Public - K to 6
Thomas Starr King Middle School
Public - 6 to 8
John Marshall Senior High School
Public - 9 to 12
Lexington Avenue Primary Center
Public - K to 2
Rating
School
Distance
Lockwood Avenue Elementary School
PublicK to 6

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Lexington Avenue Primary Center
PublicK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Matthew Ziegler, DRE #01280909; Marcus & Millichap, Jeffrey Louks, DRE #00908473

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.