18 UNITS-INCREDIBLE 6.5% CAP RATE FROM DAY 1 | 4201 Council St
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18 UNITS-INCREDIBLE 6.5% CAP RATE FROM DAY 1 4201 Council St
18 Unit Apartment Building $5,975,000 ($331,944/Unit) 6.50% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Fully renovated 18 Unit building in Prime Koreatown with permits in Prime Koreatown.
- Easy To Rent Unit Mix consisting of 18 (1bed/1bath) units.
- Fully Approved plans to add 2 detached ADU's in the garages.
- Incredible 6.5% Cap Rate and 11.3 GRM from Day 1!
- Individually metered for Gas & Electricity.
Executive Summary
Huge Price Reduction! 100% Fully Renovated & 100%Occupied 18-unit apartment building with permits cash flowing at an amazing 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) spacious 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 to every inch. Overall systems were
overhauled with a new roof, plumbing, 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 and 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.
Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of eighteen (18) spacious 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 to every inch. Overall systems were
overhauled with a new roof, plumbing, 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 and 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.
Property Facts
| Price | $5,975,000 | Apartment Style | Low Rise |
| Price Per Unit | $331,944 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.50% | Building Size | 8,677 SF |
| Gross Rent Multiplier | 11.3 | Average Occupancy | 84% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.46/1,000 SF |
| Price | $5,975,000 |
| Price Per Unit | $331,944 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 11.3 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 8,677 SF |
| Average Occupancy | 84% |
| No. Stories | 2 |
| Year Built/Renovated | 1923/2023 |
| Parking Ratio | 0.46/1,000 SF |
Unit Amenities
- Balcony
Site Amenities
- Controlled Access
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | - |
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Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 5518-004-008 | Improvements Assessment | $232,529 |
| Land Assessment | $2,288,880 | Total Assessment | $2,521,409 |
PROPERTY TAXES
Parcel Number
5518-004-008
Land Assessment
$2,288,880
Improvements Assessment
$232,529
Total Assessment
$2,521,409
zoning
| Zoning Code | R3, Los Angeles |
| R3, Los Angeles |
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18 UNITS-INCREDIBLE 6.5% CAP RATE FROM DAY 1 | 4201 Council St
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