837 S Normandie Ave | Los Angeles, CA 90005
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- LoopNet Team
837 S Normandie Ave
Los Angeles, CA 90005
Multifamily Property For Sale · 16 Units
Investment Highlights
- Positive Leverage Deal – listed at a 6.61% cap rate with upside to a proforma 9.21% cap rate. The highest cap rate on the market in the 90005 zip code
- Excellent Unit Mix of (16) 1 Bed/1 Bath, with an estimated average of 625 square foot unit size
- Year One 6.65% Cash on Cash Return. High Cashflow opportunity with 60% Bonus Depreciation in 2024
- 1925 construction, 16 unit apartment building with the majority of the units recently upgraded and renovated under current ownership
- Tremendous upside potential with 31% Remaining Rental Upside, No Soft-Story Parking Retrofit Required
- Walker’s Paradise! Walk Score of 94, Only 1 Block from Retail and Restaurants on Irolo St & West 8th St
PROPERTY FACTS
| No. Units | 16 | Building Size | 10,252 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Building Class | C | Year Built | 1925 |
| Lot Size | 0.17 AC |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,252 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1925 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | $2,195 | 625 |
PROPERTY TAXES
| Parcel Number | 5094-019-008 | Improvements Assessment | $879,204 |
| Land Assessment | $2,466,064 | Total Assessment | $3,345,268 |
PROPERTY TAXES
Parcel Number
5094-019-008
Land Assessment
$2,466,064
Improvements Assessment
$879,204
Total Assessment
$3,345,268
zoning
| Zoning Code | R4-2 |
| R4-2 |
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