201 North Normandie Avenue

201 North Normandie Avenue

Los Angeles, CA 90004

$5,600,000
Price
16
Beds
16
Baths
7,956 Sq. Ft.
$704 / Sq. Ft.
7,956
Sq. Ft.
$704
per Sq. Ft.
a living room with furniture and wooden floor
a kitchen with stainless steel appliances kitchen island granite countertop a sink and a refrigerator
a bathroom with a toilet sink and mirror
a bedroom with a bed and a dresser
a view of a city from a terrace
a sign that is on the side of a building
a view of a hallway with a dining table and chandelier
a living room with furniture and a flat screen tv
a kitchen with a refrigerator and a sink
a bathroom with a toilet sink and mirror
a living room with furniture and a potted plant
a bedroom with a bed and a window
front view of a house
a view of a hallway with wooden floor
a view of a city with tall buildings
a view of city
a view of a city in the middle of a city

Description

Huge 400k Price Reduction! 100% Fully renovated 16-unit apartment building (13 vacant) with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are fully approved RTI plans to add two detached ADUs in the garages (Under Construction) to achieve a remarkable 7% Cap Rate and 10.7 GRM.201 North Normandie Avenue is a sixteen-unit apartment community in Los Angeles, CA. The offering provides investors with a unique opportunity to purchase a premium asset that is completely...Huge 400k Price Reduction! 100% Fully renovated 16-unit apartment building (13 vacant) with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are fully approved RTI plans to add two detached ADUs in the garages (Under Construction) to achieve a remarkable 7% Cap Rate and 10.7 GRM.201 North Normandie Avenue is a sixteen-unit apartment community in Los Angeles, CA. The offering provides investors with a unique opportunity to purchase a premium asset that is completely vacant and lease out at market rates. 201 N Normandie Avenue was built in 1923 and boasts sixteen stylish apartment homes. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of sixteen (16) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features 7,956 square feet of improvements on a collective 7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities. The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities, modern fixtures, along with sleek shower stalls. And the cherry on top is ownership has Ready-to-Issue plans for two detached 1-bedroom ADUs where the garages currently are, providing an additional stream of income. The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns along with long-term wealth preservation and appreciation.
  1. Listed by Nick Astrupgaard • DRE #01893466 • KW Commercial Studio City
  2. Listed by Rich Johns • DRE #01432215 • KW Commercial Studio City

Property Details for 201 North Normandie Avenue

Zoning
LAR3
Parcel Number
5518004008
Total Units
16.0
Living Area
7956
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
81.25%
Lot Size Area
7702

Location

Listing Courtesy of KW Commercial Studio City, Nick Astrupgaard, DRE #01893466; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute
LISTING UPDATED: 03/15/2024 12:01 AM

Property Details for 201 North Normandie Avenue

StatusActive
MLS #24-366329
Days on Market55
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.18 AC / 7,702 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Commercial Studio City, Nick Astrupgaard, DRE #01893466; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute

Building Information for 201 North Normandie Avenue

Stories2Residences-Year Built1923Building Size-Lot Size0.18 AC / 7,702 SF

Payment Calculator

$33,152 per month

30 year fixed, 7.25% Interest

Principal and Interest

$30,561

Property Taxes

$2,591

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 201 North Normandie Avenue

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $450,305
  • Net Operating Income: $337,425.00
  • Gross Income: $462,232
  • Cap Rate: 6.00%
  • Gross Rent Multiplier: $12.00
  • Total Annual Expense: 112880
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1768
  • Lot Size Square Feet: 7702
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 4
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 03-07-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $38,512.00
  • Unit Projected Rent: $38,686.00
  • Like Units: 16
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $227,970.00
  • Assessed Improvement Percent: 9.22
  • Assessed Land Value: $2,244,000.00
  • Assessed Land Percent: 90.78
  • Assessed Total Value: $2,471,970.00

Property History for 201 North Normandie Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 201 North Normandie Avenue

Taxable ValueLand$2,244,000Additions$228,650Total$2,472,650
Tax Record2023$31,092 ($2,591 / month)
Home Facts
Total Finished SqFt7,956 SqFtAbove Grade Finished SqFt7,956 SqFtLot Size7,700 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLAR3CountyLOS ANGELESAPN5518-004-008

Schools near 201 North Normandie Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Alexandria Avenue Elementary School
Public - K to 5
Virgil Middle School
Public - 6 to 8
Contreras Learning Center-School Of Social Justice
Public - 9 to 12
Academic Leadership Community School
Public - 9 to 12
Rating
School
Distance
Alexandria Avenue Elementary School
PublicK to 5

Virgil Middle School
Public6 to 8

Contreras Learning Center-School Of Social Justice
Public9 to 12

Academic Leadership Community School
Public9 to 12

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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More information about 201 North Normandie Avenue, Los Angeles, CA 90004

201 North Normandie Avenue is a multi-family home for sale in Los Angeles, CA 90004. This property was listed for sale on March 7, 2024 by KW Commercial Studio City, it's currently listed at $5,600,000. It has been on the market for a total of 55 days and was last sold on April 19, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Alexandria Avenue Elementary School, Virgil Middle School and Contreras Learning Center-School Of Social Justice. 201 North Normandie Avenue is a 16-bed, 16-bath, 7,956 sqft multi-family home built in 1923.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Commercial Studio City, Nick Astrupgaard, DRE #01893466; KW Commercial Studio City, Rich Johns, DRE #01432215

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.