Armin Soleimani
This listing was posted on RealtyWW.
$6,300,000
Home For Sale In Los Angeles, California
Price:
$6,300,000
BR/BA:
10+ BR, 10+ BA
Location:
201 N Normandie Ave, Los Angeles, CA
Description:
100% Fully renovated 18-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Majority of the units have already been leased at full market rents for ~$2, 400 per month. 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, 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.For more details: https://realtyww.info/homes_los-angeles-d523223/for-sale_i72122961
Property Type:
Single-Family Houses
Sq feet:
677 sq. ft.
Amenities:
Wood Floors
Posted:
May 22 on RealtyWW
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More About this Listing: Home For Sale In Los Angeles, California
Home For Sale In Los Angeles, California is a 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Single-Family Homes for Sale at 201 N Normandie Ave in Los Angeles CA. Find other listings like Home For Sale In Los Angeles, California and listings near 201 N Normandie Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Single-Family Homes for Sale in Los Angeles CA.
Home For Sale In Los Angeles, California is a 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Single-Family Homes for Sale at 201 N Normandie Ave in Los Angeles CA. Find other listings like Home For Sale In Los Angeles, California and listings near 201 N Normandie Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Single-Family Homes for Sale in Los Angeles CA.