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644 N Normandie Ave 13 Unit Apartment Building $5,500,000 ($423,077/Unit) 5.41% Cap Rate Los Angeles, CA 90004
Investment Highlights
- NOT SUBJECT TO LA RSO, non-rent controlled building.
- THOUGHTFULLY DESIGNED UNITS Twelve large 1+1.5 + loft townhomes and one, studio+1 bath ADU with high ceilings and excellent natural light.
- PREMIUM AMENITIES
- STABLE INCOME, SIGNIFICANT UPSIDE
- STABLE INCOME, SIGNIFICANT UPSIDE
Executive Summary
Kidder Mathews is pleased to present the exclusive opportunity to acquire 644 Normandie Townhomes, a 2019 construction 13 unit luxury apartment building located in the heart of one the Los Angeles’ most sought-after neighborhoods.
The Townhomes are comprised of twelve large 1+1.5 townhomes with lofts and one studio+1 bath ADU
(accessory dwelling unit).
The Townhomes have modern interiors with many amenities including: custom Italian-style kitchens, quartz countertops, in-unit washer & dryer, modern appliances, deep
soaking tubs, Nest Thermostats, secured building and private patios with sweeping city views. Each of the townhome units are three stories with the bedroom on the ground floor, the living room and kitchen on the second floor, and the mezzanine and private patio on the third floor.
The building features 13 parking spaces in a private subterranean gated garage. The units are all individually metered for gas and electric, allowing the Landlord to bill back the tenants for their utilities. All units have high ceilings with large, premium double-paned windows which gives the units excellent natural light
The Townhomes are comprised of twelve large 1+1.5 townhomes with lofts and one studio+1 bath ADU
(accessory dwelling unit).
The Townhomes have modern interiors with many amenities including: custom Italian-style kitchens, quartz countertops, in-unit washer & dryer, modern appliances, deep
soaking tubs, Nest Thermostats, secured building and private patios with sweeping city views. Each of the townhome units are three stories with the bedroom on the ground floor, the living room and kitchen on the second floor, and the mezzanine and private patio on the third floor.
The building features 13 parking spaces in a private subterranean gated garage. The units are all individually metered for gas and electric, allowing the Landlord to bill back the tenants for their utilities. All units have high ceilings with large, premium double-paned windows which gives the units excellent natural light
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$437,472
|
$38.04
|
| Other Income |
$4,730
|
$0.41
|
| Vacancy Loss |
$13,124
|
$1.14
|
| Effective Gross Income |
$429,078
|
$37.31
|
| Taxes |
$66,000
|
$5.74
|
| Operating Expenses |
$65,591
|
$5.70
|
| Total Expenses |
$131,591
|
$11.44
|
| Net Operating Income |
$297,487
|
$25.87
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $437,472 |
| Annual Per SF | $38.04 |
| Other Income | |
|---|---|
| Annual | $4,730 |
| Annual Per SF | $0.41 |
| Vacancy Loss | |
|---|---|
| Annual | $13,124 |
| Annual Per SF | $1.14 |
| Effective Gross Income | |
|---|---|
| Annual | $429,078 |
| Annual Per SF | $37.31 |
| Taxes | |
|---|---|
| Annual | $66,000 |
| Annual Per SF | $5.74 |
| Operating Expenses | |
|---|---|
| Annual | $65,591 |
| Annual Per SF | $5.70 |
| Total Expenses | |
|---|---|
| Annual | $131,591 |
| Annual Per SF | $11.44 |
| Net Operating Income | |
|---|---|
| Annual | $297,487 |
| Annual Per SF | $25.87 |
Property Facts
| Price | $5,500,000 | Building Class | B |
| Price Per Unit | $423,077 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 11,500 SF |
| Cap Rate | 5.41% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.44 | No. Stories | 3 |
| No. Units | 13 | Year Built | 2019 |
| Property Type | Multifamily | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAR3 | ||
| Price | $5,500,000 |
| Price Per Unit | $423,077 |
| Sale Type | Investment |
| Cap Rate | 5.41% |
| Gross Rent Multiplier | 12.44 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 11,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2019 |
| Parking Ratio | 1.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Patio
- Porch
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 450 |
| 1+1 | 1 | - | 700 |
| 1+2 | 11 | - | 750 - 800 |
Very walkable
80/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5520-003-049 | Total Assessment | $6,386,349 |
| Land Assessment | $4,221,485 | Annual Taxes | $66,000 ($5.74/SF) |
| Improvements Assessment | $2,164,864 | Tax Year | 2025 |
Property Taxes
Parcel Number
5520-003-049
Land Assessment
$4,221,485
Improvements Assessment
$2,164,864
Total Assessment
$6,386,349
Annual Taxes
$66,000 ($5.74/SF)
Tax Year
2025
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644 N Normandie Ave
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