$5,400,000

4115 Normal Avenue, Los Angeles 90029

4

Beds

3

Baths

13,956

Square feet

9,299

Lot Size

12

# Of Units

Listing Agent
Matthew Ziegler - Marcus & Millichap

***Excellent Assumable Debt - $2,700,000 loan, fixed 3.2% interest-only until April 2027*** We are pleased to present 4115 Normal Avenue, a 12-unit* value-add apartment building located in Silver Lake. The building was constructed in 1988 so it is not subject to LA City Rent Control (only subject to California State Rent Control). The building consists of (8) two bedroom/one bath units and (4) two bedroom/two bath units. Select units have been remodeled and feature vinyl wood flooring, recessed lighting, new windows, central heat/air-condition, washer/dryers, remodeled bathrooms and kitchens with new shaker cabinets, stone countertops and stainless-steel appliances (gas range oven, refrigerator, dishwasher, microwave). The property features gated entry, secured covered parking and a laundry facility and sits on a 9,299 square foot lot that is LARD 1.5 zoned.This is a great opportunity for an investor who is looking for a value-add property with a favorable unit mix located in an excellent rental submarket that is not subject to City of Los Angeles Rent Control. Existing ownership has been successful in achieving top of the market rents for renovated units. New ownership has an opportunity to realize remaining potential rental upside by continuing the current renovation program to unit interiors as existing tenants move out. 4115 Normal Avenue is located in trendy Silver Lake, which has long been one of the most sought-after rental submarkets in Los Angeles. The property boasts a Walk Score of 90 as it is just a half block from chic retail, restaurants, bars, cafes and coffee shops along Virgil Avenue. The property is also just a short drive to Koreatown, Hollywood, West Hollywood, Echo Park and Downtown Los Angeles. The property is conveniently located close to the 101 freeway and just 0.5 miles from the Vermont/Beverly Metro D Line Station offering a viable public transportation option for commuters headed to Downtown Los Angeles or North Hollywood. *Building is made up of 11-units and 1 ADU

Facts & Features

MLS® # 24355999
Price $5,400,000
Bedrooms 4
Bathrooms 3.00
Square Footage 13,956
Lot Size 9,299
Year Built 1988
Type Residential Income
Status Active
# Of Units 12

Community Information

Address 4115 Normal Avenue
Area C21 - Silver Lake - Echo Park
City Los Angeles
County Los Angeles
Zip Code 90029

Amenities

Parking Spaces 15
Parking Covered
Garages Covered
Is Waterfront No
Has Pool No

Interior

Appliances Disposal, Refrigerator
Heating Central
Cooling Central Air
Has Basement No
Fireplace No
# of Stories 2
Stories Multi/Split

Additional Information

Date Listed February 7th, 2024
Days on Market 21
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentMatthew Ziegler
OfficeMarcus & Millichap

Listing Map

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