1007 N Normandie Ave 6 Unit Apartment Building $3,295,000 ($549,167/Unit) 4.26% Cap Rate Los Angeles, CA 90029

First time on market in 50 years. A Fourplex plus duplex - Six units - Four units 2 bed 1 bath and Two units 1 bed 1 barh - each with its own laundry and ample closets for storage A unique multifamily located in East Hollywood, Freeway close and convenient to entertainment, KTTV Studios, Paramount Studios, Netflix, Kodak Theater, Greek Theater, Griffith Park, minutes from Downtown Los Angeles.
Pride of ownership with three 2024-2026 upgraded units in upscale architectural and design features and amenities. No expense was spared in upgrading the three units to Architectural Digest standards. New plumbing, new electrical in two units and partial new electrical in one unit, new flooring, new kitchen and bath fixtures. Owner user for one unit and long term hold with income from rentals with potential for a future redevelopment for multifamily project (to be verified with City of Los Angeles). Five units will be delivered vacant. Buyer will be able to rent the vacant units at market or start plans for a redevlopment without the extreme cost of relocating tenants.
Vacant units can be rented at market rents of up to $2,500 for the one bedroom units and up to $3,250 for the two bedroom units. Four detached garages that can produce additional rental income of $150 each. As five units will be delivered vacant, the GRM is based on proforma future tenancy. The unit sizes are approximate.
Zoning information gathered from ZMAS - ZI-2374 State Enterprise Zone: Los Angeles - R3-1XL ZI-2427 Freeway Adjacent Advisory Notice for Sensitive Uses - ZI-2452 Transit Priority Area in the City of Los Angeles - ZI-2512 Housing Element Sites - General Plan land use - Medium residential.
Buyer to verify All information provided above. Broker, owner or any other representative of the owner has not verified nor will verify any of the information. Buyer to perform its due diligence with its own experts.