$5,975,000

201 Normandie Avenue, Los Angeles 90004

7

Beds

7

Baths

8,677

Square feet

7,702

Lot Size

18

# Of Units

Listing Agent
Armin Soleimani - Global Platinum Properties, Inc.

Huge Price Reduction! 100% Fully Renovated & 100% Occupied 18-unit apartment building with permits cash flowing at an amazing 6.5% Cap Rate and 11.3 GRM from day 1! All the units have already been leased at full market rents for +$2,400 per month providing an incredible cash flow. The offering provides investors with a unique opportunity to purchase a premium asset that was completely vacated and renovated. 201 N Normandie Avenue was built in 1923 and boasts 16 stylish apartment homes renovated in 2023 as well as 2 brand-new detached ADUs built in 2024. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of eighteen (18) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features ~8,677 square feet of improvements on a collective ~7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities to further reduce operating costs. The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities and modern fixtures along with sleek shower stalls. The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns along with long-term wealth preservation and appreciation.

Facts & Features

MLS® # 24444651
Price $5,975,000
Bedrooms 7
Bathrooms 7.00
Square Footage 8,677
Lot Size 7,702
Year Built 1923
Type Residential Income
Status Active
# Of Units 18

Community Information

Address 201 Normandie Avenue
Area C17 - Mid-Wilshire
City Los Angeles
County Los Angeles
Zip Code 90004

Amenities

Parking None
Garages None
Is Waterfront No
Has Pool No
Pool None

Interior

Heating Wall Furnace
Cooling None
Has Basement No
Fireplace No
# of Stories 2
Stories Two

Exterior

Exterior Stucco
Construction Stucco
Foundation Raised

Additional Information

Date Listed September 24th, 2024
Days on Market 10
Zoning LAR3
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentArmin Soleimani
OfficeGlobal Platinum Properties, Inc.

Listing Map

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