751 Normandie Avenue
751 Normandie Avenue
$8,500,000
17
48
34,291
34,291
$248
Sold 6/29/22
Description
The Richelieu Apartments, in the heart of the Koreatown neighborhood of Los Angeles, is a 56-unit multifamily building built in 1928. The property is located at 751 S Normandie Avenue and is comprised of a high demand mix of 14 Bachelors, 33 studios, 6 one-bedroom/one-bath apartments, and 3 two-bedroom/one-bath apartments across +/-34,291 square feet of improvements on +/-10,659 square feet of land. The Richelieu Apartments is a 5-story elevator building constructed of brick and stone. Amenities...The Richelieu Apartments, in the heart of the Koreatown neighborhood of Los Angeles, is a 56-unit multifamily building built in 1928. The property is located at 751 S Normandie Avenue and is comprised of a high demand mix of 14 Bachelors, 33 studios, 6 one-bedroom/one-bath apartments, and 3 two-bedroom/one-bath apartments across +/-34,291 square feet of improvements on +/-10,659 square feet of land. The Richelieu Apartments is a 5-story elevator building constructed of brick and stone. Amenities include on-site laundry facilities, elevator, gated controlled access and door-to-door trash pickup. On the market for the first time in almost 30 years, the Richelieu Apartments are a virtual time capsule of 1920's style, ripe for repositioning and cosmetic updating to serve the upscale tenant base of the renewed Koreatown community in the heart of Los Angeles. The Richelieu Apartments are an ideal investment opportunity for all renovation-oriented buyers. New ownership has the opportunity to capture a higher-income tenant base and top-of-market rents with a nearly 30% upside (in rents) by extensively renovating the units as the units turn. Located in the heart of the Koreatown neighborhood, just south of Wilshire Boulevard, The Richelieu offers tenants access to major employment centers, and a broad range of entertainment and recreation opportunities accessible by a short walk or drive. With a "Walker's Paradise" Walk Score of 96, the Richelieu Apartments are a short walk (.3 mile) to the Wilshire/Vermont Purple Line Metro Station. Within a short driving distance is Downtown Los Angeles, Los Feliz, Miracle Mile, Hollywood, Silverlake and Glendale.
- Listed by Adam Zunder • DRE #01821053 • Brokerage DRE #01229985 • Iconic Investments
- Listed by Peter Strauss • DRE #01335696 • Brokerage DRE #01229985 • Iconic Investments
Property Details for 751 Normandie Avenue
Zoning
LAR5
Parcel Number5094004002
Total Units56.0
Living Area34291
Source Living AreaVendor Enhanced
AreaMid-Wilshire (C17)
Vacancy Rate13%
Lot Size Area10659
Location
LISTING UPDATED: 06/29/2022 02:59 PM
Property Details for 751 Normandie Avenue
Status | Sold |
---|---|
MLS # | 22-129201 |
Days on Market | 131 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1928 |
Lot Size | 0.24 AC / 10,659 SF |
County | Los Angeles County |
Location
Building Information for 751 Normandie Avenue
Stories5Residences-Year Built1928Building Size-Lot Size0.24 AC / 10,659 SF
Payment Calculator
$55,393 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 751 Normandie Avenue
Property History for 751 Normandie Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 751 Normandie Avenue
Taxable ValueLand$7,395,000Additions$1,293,948Total$8,688,948
Tax Record2023$108,059 ($9,005 / month)
Home Facts
Total Finished SqFt34,291 SqFtAbove Grade Finished SqFt34,291 SqFtLot Size10,659 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLAR5CountyLOS ANGELESAPN5094-004-002
Schools near 751 Normandie Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 2 | |||
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Mariposa-Nabi Primary Center PublicK to 2 | ||
Hobart Boulevard Elementary School PublicK to 5 | ||
Berendo Middle School Public6 to 8 | ||
Young Oak Kim Academy Public6 to 8 |
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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