916 S Normandie Avenue, Los Angeles, CA 90006
- $1,600,000
- 8
- BD
- 13
- BA
- 5,872
- SqFt
Listing courtesy of Listing Agent: William James (will@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
- List Price
- $1,600,000
- Status
- ACTIVE
- Days on Market
- 23
- MLS#
- 26934849
- Subtype
- Residential Income
- Style
- Mid-Century Modern
- Year Built
- 1957
- Bedrooms
- 8
- Bathrooms
- 13
- Living Area
- 5,872
- Lot Size
- 6,402
- Acres
- 0.15
- MLS Area Major
- Mid-Wilshire (C17)
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.
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Additional Information
- Property Description
- Mid-Century Modern
- Zoning
- LAR4
- Appliances
- Refrigerator
- Heating
- Wall Furnace
- Air Conditioning
- Yes
- Exterior Construction
- Stucco
- Stories
- Multi Level
- Levels
- Multi/Split
- Pool Type
- None
- Parking Features
- Attached Carport, Assigned
- View
- City Lights
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.