916 S Normandie AVE, Los Angeles, CA 90006
916 S Normandie AVE, Los Angeles, CA 90006
916 S Normandie AVE, Los Angeles, CA 90006
8
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$1,600,000
Est. payment /mo
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8 Beds
13 Baths
5,872 SqFt
Active

916 S Normandie AVE Los Angeles, CA 90006

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Mason Frakes

Mason Frakes

+1(805) 260-4860

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,872 sqft

Price per Sqft $272

MLS Listing ID 26934849

Bedrooms 8

HOA Y/N No

Year Built 1957

Lot Size 6,403 Sqft

Property Description

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.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR4

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Refrigerator

Laundry None

Exterior

Parking Features Attached Carport, Assigned

Pool None

Community Features Gated

View Y/N Yes

View City Lights

Total Parking Spaces 9

Private Pool No

Building

Lot Description Rectangular Lot

Faces West

Story 2

Entry Level Multi/Split

Architectural Style Mid-Century Modern

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5094022005

Security Features Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)
Listed by William James Lyon Stahl Investment Real Estate, Inc. #01734419

NEARBY SCHOOL & BUSINESS

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Mason Frakes

Mason Frakes

Broker Associate License ID: 02036823

+1(805) 260-4860

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916 S Normandie AVE

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