$6100000 Price Analysis   ♡   Los Angeles, CA 90004 18 bed 18 bath 8677 SqFt ($703/SqFt) 7702SqFt lot. Built 1923 Listed 2024-07-16, Taxes $17384 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Price Reduction!
100% Fully renovated 18-unit apartment building with permits cash flowing at an impressive 6.26% Cap Rate and 11.6 GRM from day 1. All the units have already been leased at full market rents for ~$2, 400 per month providing an incredible cash flow. The offering provides investors with a unique opportunity to purchase a premium asset that was completely vacated and renovated. 201 N Normandie Avenue was built in 1923 and boasts 16 stylish apartment homes renovated in 2023 as well as 2 brand-new detached ADUs built in 2024. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of eighteen (18) open and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features ~8, 677 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 to further reduce operating costs.
The property has seen a complete restoration, down t o every inch. Overall systems were overhauled with a new roof, plumbng 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. 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.
Presented by Armin Soleimani at
Global Platinum Properties, Inc.
Property MLS #24-415557 from TheMLSCLAW
Full Bathrooms: 18
Bathroom 1 Features: Low Flow Toilet(s)
Kitchen Features: Remodeled
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7702
Calculated Total Monthly Association Fees: 0
Number of Units: 18
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 2450, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2450, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 2450, 4 BedsTotal: 1, 4 BathsTotal: 1, 4 SquareFeet: 2450, 5 BedsTotal: 1, 5 BathsTotal: 1, 5 SquareFeet: 2450, 6 BedsTotal: 1, 6 BathsTotal: 1, 6 SquareFeet: 2450
County: Los Angeles
Cap Rate: 6.26
Directions: It is located between Council and Beverly, on the north side of Normandie.
Source Property Type: Residential Income
Area: Mid-Wilshire
Source Neighborhood: Mid-Wilshire
Parcel Number: 5518-004-008
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $638591 + $729819 $1368410 | $17384 |
| 2021 | $626070 + $715509 $1341579 | $17139 |
| 2020 | $619651 + $708173 $1327824 | $17300 |
| 2019 | $607501 + $694288 $1301789 | $16652 |
| 2018 | $595590 + $680675 $1276265 | $16519 |
| 2017 | $583912 + $667329 $1251241 | $16137 |
| 2016 | $572463 + $654245 $1226708 | $15711 |
| 2015 | $563865 + $644418 $1208283 | $15494 |
| 2014 | $552820 + $631795 $1184615 | $15645 |
| 2013 | $550322 + $628940 $1179262 | $15640 |
| 2012 | $539532 + $616608 $1156140 | $15844 |
| 2010 | $528953 + $604518 $1133471 | $15541 |
| 2009 | $542900 + $428602 $971502 | $13084 |
| 2009 | $525000 + $600000 $1125000 | $13084 |
| 2008 | $532255 + $420199 $952454 | $12561 |
| 2007 | $521819 + $411960 $933779 | $12144 |
$6100000
TheMLSCLAW
Listing removed 2024-07-13
$0
TheMLSCLAW
Price Changed 2024-06-18
$6100000
TheMLSCLAW
Listed 2024-05-21
$6300000
TheMLSCLAW
Listing removed 2024-05-03
$0
TheMLSCLAW
Listed 2024-03-08
$5600000
TheMLSCLAW
Listing removed 2024-03-06
$0
TheMLSCLAW
Relisted 2024-03-04
$5600000
TheMLSCLAW
Listing removed 2024-03-02
$0
TheMLSCLAW
Price Changed 2024-02-06
$5600000
TheMLSCLAW
Listed 2024-01-08
$5750000
TheMLSCLAW
Listing removed 2024-01-06
$0
TheMLSCLAW
Price Changed 2023-12-05
$5750000
TheMLSCLAW
Listed 2023-11-17
$5995000
TheMLSCLAW
Listing removed 2011-01-26
$1100000
TheMLSCLAW
Listing removed 2011-01-22
$1100000
ITECH
Listing removed 2010-02-10
$1100000
SoCalMLS
Listing removed 2010-02-10
$1199900
SoCalMLS
Listing removed 2010-01-23
$1100000
TheMLSCLAW
Listing removed 2010-01-23
$1199900
TheMLSCLAW
Listed 2010-01-22
$1100000
ITECH
Listing removed 2010-01-22
$1199900
ITECH
Listed 2010-01-22
$1100000
TheMLSCLAW
Listed 2010-01-22
$1100000
SoCalMLS
Price Changed 2009-12-11
$1199900
TheMLSCLAW
Listed 2009-12-08
$1249000
TheMLSCLAW
Listed 2009-12-07
$1199900
ITECH
Listed 2009-12-07
$1199900
SoCalMLS
Listing removed 2009-07-28
$1249900
TheMLSCLAW
Listing removed 2009-07-28
$1249900
ITECH
Listed 2009-04-28
$1249900
TheMLSCLAW
Listed 2009-04-27
$1249900
ITECH
Sold 2005-06-06
$350000
Public Record
Sold 1990-02-16
$680000
Public Record
Sold 1989-03-21
$600000
Public Record
Sold 1987-05-05
$520000
Public Record
Year Built: 1923
Building Exterior Type: Stucco
Foundation Details: Raised
Levels: Two Level
Living Area Source: Owner
Property Age: 101
Roof: Flat
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.