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1405 N Normandie Ave 8 Unit Apartment Building $4,500,000 ($562,500/Unit) 6.33% Cap Rate Los Angeles, CA 90027
Investment Highlights
- Excellent unit mix featuring seven 2-bedroom/2.5-bath townhomes and one 2-bedroom/2-bath unit with a private entrance and yard.
- Prime East Hollywood / Thai Town location near Los Feliz, Griffith Park, major entertainment employers, dining, retail, and public transit.
- Individually metered units with separate 60-AMP electrical service for each residence.
- Panoramic Hollywood Sign and Griffith Observatory views from select north-facing units.
Executive Summary
1405 N. Normandie Avenue is an eight-unit apartment building ideally situated in the heart of East Hollywood — just minutes from Ferndell Nature Trail, Barnsdall Art Park, Thai Town, and Los Feliz. Built in 1989 and renovated in 2024, the property features seven spacious 2-bedroom, 2.5-bath townhomes and one 2-bedroom, 2-bath unit with a separate entrance, private yard, and secured parking space. Upgrades include a new roof, copper plumbing throughout, and all-new double-pane windows and balcony sliders. Each residence offers solid wood kitchen cabinetry, Taj Mahal quartz countertops, GE stainless steel appliances, in-unit washers and dryers, and luxury vinyl plank flooring. Every unit has an individual 60-AMP electrical meter. Seven of the 2-bedroom, 2.5-bath units include two secured tandem parking spaces, and several units include private balconies. North-facing units boast panoramic views of the Hollywood Sign and Griffith Observatory. Delivered fully vacant, this turnkey property allows an investor to immediately lease all units at market rents — an exceptional opportunity to own a beautifully upgraded, low-maintenance building in one of Los Angeles’ most dynamic rental markets.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$384,000
|
$38.40
|
| Other Income |
$9,600
|
$0.96
|
| Vacancy Loss |
$11,808
|
$1.18
|
| Effective Gross Income |
$381,792
|
$38.18
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$95,450
|
$9.54
|
| Net Operating Income |
$286,342
|
$28.63
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $384,000 |
| Annual Per SF | $38.40 |
| Other Income | |
|---|---|
| Annual | $9,600 |
| Annual Per SF | $0.96 |
| Vacancy Loss | |
|---|---|
| Annual | $11,808 |
| Annual Per SF | $1.18 |
| Effective Gross Income | |
|---|---|
| Annual | $381,792 |
| Annual Per SF | $38.18 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $95,450 |
| Annual Per SF | $9.54 |
| Net Operating Income | |
|---|---|
| Annual | $286,342 |
| Annual Per SF | $28.63 |
Property Facts
| Price | $4,500,000 | Building Class | C |
| Price Per Unit | $562,500 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 10,001 SF |
| Cap Rate | 6.33% | Average Occupancy | 0% |
| Gross Rent Multiplier | 11.7 | No. Stories | 3 |
| No. Units | 8 | Year Built/Renovated | 1989/2024 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $4,500,000 |
| Price Per Unit | $562,500 |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| Gross Rent Multiplier | 11.7 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,001 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built/Renovated | 1989/2024 |
| Parking Ratio | 1.5/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Fireplace
- Washer/Dryer
- Heating
- Stainless Steel Appliances
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 7 | $4,000 | 1,110 |
| 2+2 | 1 | $4,000 | 1,080 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5544-037-032 | Improvements Assessment | $900,000 (2025) |
| Land Assessment | $1,850,000 (2025) | Total Assessment | $2,750,000 (2025) |
Property Taxes
Parcel Number
5544-037-032
Land Assessment
$1,850,000 (2025)
Improvements Assessment
$900,000 (2025)
Total Assessment
$2,750,000 (2025)
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1405 N Normandie Ave
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