148 S Normandie Avenue, Los Angeles, CA 90004
- $1,750,000
Listing courtesy of Listing Agent: Sang Ur (sang.ur@redfin.com) from Listing Office: Redfin Corporation.
- List Price
- $1,750,000
- Status
- ACTIVE
- Days on Market
- 39
- MLS#
- PF26141841
- Subtype
- Residential Income
- Year Built
- 1942
- Lot Size
- 5,944
- Acres
- 0.14
- MLS Area Major
- Mid-Wilshire (C17)
Property Description
Prime Koreatown Covered Land Play & Value-Add Opportunity! This exceptional site features high-density LAR4 zoning with a TOC Tier 2 designation, unlocking massive density bonuses, increased FAR, and reduced parking requirements for a future luxury residential complex. Positioned within an official Qualified Opportunity Zone (QOZ), the property offers incoming investors substantial tax incentives and capital gains deferrals. Located in the highly desirable Wilshire Center/Koreatown submarket (90004), 148 S Normandie Ave is situated on a prime ±5,944 sq. ft. corner lot, perfectly pairing stable immediate cash flow with massive development upside. Operational flexibility with the current tenants are on Month-to-Month leases, delivering a frictionless path for a developer looking to break ground or a value-add buyer looking to immediately capture true market-rate stabilization. Owner overhead is kept low, as all units are individually metered for electricity and gas, strictly limiting utility exposure. Do not miss this secure, low-overhead wealth preservation vehicle in one of Los Angeles' most supply-constrained rental markets!
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Additional Information
- Heating
- See Remarks
- Air Conditioning
- Yes
- Stories
- Two Levels
- Levels
- Two
- Roof
- Tile
- Pool Type
- None
- Parking Features
- Garage
- Garage Spaces
- 4
- View
- None
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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.