5150-5152 S Normandie Ave
4 Unit Apartment Building $695,000 ($173,750/Unit) 4.61% Cap Rate Los Angeles, CA 90037
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INVESTMENT HIGHLIGHTS
- 5150 S. Normandie Avenue is a 4-unit mixed-use, value-add investment property conveniently located just east of Western Avenue and south of West Ver
- Plans have been submitted for two (2) ADU's for Two-Bedroom/Two-Bathroom Units
- Strong unit mix with large Two-Bedroom and Three-Bedroom units, and a ground floor commercial unit
- Low price per square foot at the asking price; $162 per square foot
- Significant upside in rents; Over 42% potential upside
- Conveniently located in dense, infill location with a short drive to LA attractions like Exposition Park, LA Memorial Coliseum, BMO Stadium and the
EXECUTIVE SUMMARY
Sean Nami is pleased to present 5150 S. Normandie Avenue in South Los Angeles – a mixed-use value-add investment property conveniently located just east of Western Avenue and south of West Vernon Avenue. The corner lot property consists of a strong unit mix of two spacious apartment units of two-bedroom and three-bedroom units, and a large ground floor commercial space. The property also offers of on-site gated parking, which the current ownership has submitted plans to build two additional ADUs on the lot consisting of two-bedroom/two-bathroom units.
The offering has an attractive and low price per foot at the asking price of $162 per square foot and offers new ownership a chance to capture significant rental upside with over 42% upside in the rents. The dense, infill location of South LA comes with an easy commute to Downtown Leimert Park, USC, and Mid-City with multiple Metro local lines conveniently nearby the property.
The offering has an attractive and low price per foot at the asking price of $162 per square foot and offers new ownership a chance to capture significant rental upside with over 42% upside in the rents. The dense, infill location of South LA comes with an easy commute to Downtown Leimert Park, USC, and Mid-City with multiple Metro local lines conveniently nearby the property.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$55,584
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$13.00
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Other Income |
-
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-
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Vacancy Loss |
-
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-
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Effective Gross Income |
$55,584
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$13.00
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Taxes |
-
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-
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Operating Expenses |
-
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-
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Total Expenses |
$21,883
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$5.12
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Net Operating Income |
$33,701
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$7.88
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PROPERTY FACTS
Price | $695,000 |
Price Per Unit | $173,750 |
Sale Type | Investment |
Cap Rate | 4.61% |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.10 AC |
Building Size | 4,275 SF |
No. Stories | 2 |
Year Built | 1914 |
Parking Ratio | 0.53/1,000 SF |
1 of 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
Parcel Number | 5002-001-006 | Improvements Assessment | $201,629 |
Land Assessment | $472,237 | Total Assessment | $673,866 |
ZONING
Zoning Code | C2-1, Los Angeles |