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Prime Koreatown | 6.35% Cap & 8.9 GRM 745 S Normandie Ave

48 Unit Apartment Building $7,350,000 ($153,125/Unit) 6.35% Cap Rate Los Angeles, CA 90005

Apartment Buildings California Los Angeles 745 S Normandie Ave, Los Angeles, CA 90005

Investment Highlights

  • Stunning Art Deco Architecture
  • Substantial Remaining Rental Upside
  • 6.35% Cap Rate & 8.9 GRM on Current Income
  • Prime Koreatown Location & $196 Per Sq. Ft.

Executive Summary

745 S Normandie Ave is a 48-unit apartment community located in Koreatown. Currently being offered at an impressive 6.35% Cap Rate and 8.97 GRM on existing income with substantial rental upside! Built in 1930, the Normandie Ave apartments is a mid-rise style building with stunning art deco architecture offering an incredible unit mix of (1) Efficiency/One-Bathroom unit, (30) Studio/One-Bathroom units and (17) One-Bedroom/One-Bathroom units.

Attachments

745 S Normandie Ave., Los Angeles_OM

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $7,350,000 Apartment Style Mid Rise
Price Per Unit $153,125 Building Class C
Sale Type Investment Lot Size 1.09 AC
Cap Rate 6.35% Building Size 37,440 SF
Gross Rent Multiplier 8.97 No. Stories 6
No. Units 48 Year Built 1930
Property Type Multifamily Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype Apartment
Price $7,350,000
Price Per Unit $153,125
Sale Type Investment
Cap Rate 6.35%
Gross Rent Multiplier 8.97
No. Units 48
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 1.09 AC
Building Size 37,440 SF
No. Stories 6
Year Built 1930
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Heating
  • Kitchen
  • Hardwood Floors
  • Oven
  • Range

Site Amenities

  • Laundry Facilities
  • Property Manager on Site

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 31 $1,270 400 - 500
1+1 17 $1,439 800

Links

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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (80)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 5094-004-003 Total Assessment $9,077,532
Land Assessment $6,353,995 Annual Taxes ($1) ($0.00/SF)
Improvements Assessment $2,723,537 Tax Year 2024

PROPERTY TAXES

Parcel Number
5094-004-003
Land Assessment
$6,353,995
Improvements Assessment
$2,723,537
Total Assessment
$9,077,532
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024

zoning

Zoning Code R5
R5
(310) 621-8221

  • Listing ID: 32288610

  • Date on Market: 6/28/2024

  • Last Updated:

  • Address: 745 S Normandie Ave, Los Angeles, CA 90005

More public record information on 745 S Normandie Ave, Los Angeles, CA 90005

The Koreatown Multifamily Property at 745 S Normandie Ave, Los Angeles, CA 90005 is currently available. Contact Northmarq for more information.

Multifamily PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

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Prime Koreatown | 6.35% Cap & 8.9 GRM | 745 S Normandie Ave
(310) 621-8221 x

Prime Koreatown | 6.35% Cap & 8.9 GRM | 745 S Normandie Ave

1/3

Brent Sprenkle

(310) 621-8221

(310) 621-8221

Parker Boehle

(310) 988-8361

(310) 988-8361

Alex Peterson

(213) 248-7047

(213) 248-7047

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