Income Property near USC! | 3005 S Normandie Ave
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Income Property near USC! 3005 S Normandie Ave
8 Unit Apartment Building $1,695,000 ($211,875/Unit) 5.52% Cap Rate Los Angeles, CA 90007
Investment Highlights
- Great location with 97 walk score(according to the MLS)
- New improvements include: roof(~6.5 yrs old), 6/8 units with new kitchens, bathrooms, and many more...!
- Good unit mix - (6)1/1 & (2)2/1
Executive Summary
3005 Normandie Avenue is a prime investment opportunity located near the prestigious USC campus. This revamped investment offers a front-row seat to the 2028 Olympics, George Lucas Museum(opening 2025), while being close to the historic Coliseum, and vibrant BMO stadium, making it an unparalleled location for sports and culture enthusiasts alike. This 4,837 sq ft building sits on a 6,601 sq ft R3 lot, offering both space and potential. With six renovated units and a recently updated exterior, the property blends modern appeal with classic charm. The extensive remodeling of the 6 units includes new paint, kitchens, bathrooms, and resurfaced hardwood flooring. The upgrades to the exterior of the building include a newer roof (approximately 6.5 yrs. old), security camera installation, new paint, and drought tolerant landscaping. The subject property is easy to manage as tenants love the easy access of onsite laundry, employment, freeways, and public transit lines. According to the CRMLS, 3005 Normandie Ave boasts a 97 walk score being centrally located to parks and schools including Loren Miller Recreation Center and Vermont Avenue Elementary. In addition, tenants pay for their own gas and electricity. Don’t miss out on owning a valuable piece of Los Angeles real estate.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$145,428
|
$30.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,363
|
$0.90
|
| Effective Gross Income |
$141,065
|
$29.16
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$47,476
|
$9.82
|
| Net Operating Income |
$93,589
|
$19.35
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $145,428 |
| Annual Per SF | $30.07 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,363 |
| Annual Per SF | $0.90 |
| Effective Gross Income | |
|---|---|
| Annual | $141,065 |
| Annual Per SF | $29.16 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $47,476 |
| Annual Per SF | $9.82 |
| Net Operating Income | |
|---|---|
| Annual | $93,589 |
| Annual Per SF | $19.35 |
Property Facts
| Price | $1,695,000 | Apartment Style | Low Rise |
| Price Per Unit | $211,875 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,837 SF |
| Cap Rate | 5.52% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.66 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1.65/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,695,000 |
| Price Per Unit | $211,875 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| Gross Rent Multiplier | 11.66 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.15 AC |
| Building Size | 4,837 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.65/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Vinyl Flooring
- Window Coverings
Site Amenities
- Laundry Facilities
- Security System
- Pet Play Area
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Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 5053-032-036 | Improvements Assessment | $391,952 (2024) |
| Land Assessment | $1,054,926 (2024) | Total Assessment | $1,446,878 (2024) |
PROPERTY TAXES
Parcel Number
5053-032-036
Land Assessment
$1,054,926 (2024)
Improvements Assessment
$391,952 (2024)
Total Assessment
$1,446,878 (2024)
zoning
| Zoning Code | LAR3 |
| LAR3 |
-
Stephen Takahashi -
Johnnie Stiegler -
Lyon Stahl Investment Real Estate, Inc.
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Income Property near USC! | 3005 S Normandie Ave
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