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$1,445,000
Est. payment /mo
10 Beds
8 Baths
4,837 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,837 sqft
Price per Sqft $298
MLS Listing ID 25603683
Bedrooms 10
HOA Y/N No
Year Built 1960
Lot Size 6,599 Sqft
Property Description
3005 S Normandie Ave | 8-Unit Multifamily in Adams-Normandie Near USC & Downtown LA. Built in 1960, the property features a balanced unit mix of (6) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units totaling 4,837 SF on a 6,600 SF LAR3-zoned lot. Priced at $1,445,000 (~$181K per unit / $299 per SF), this offering presents investors with a strong blend of in-place income and meaningful upside through rent growth, light renovations, and operational improvements. The property currently achieves a 6.44% cap rate, with pro forma projections of 8.86%, driven by units renting well below market and one vacant unit ready to be repositioned. Several units are more than 200% under market rent, offering immediate potential to increase NOI and property value through rent adjustments and modernization. With nine on-site parking spaces, investors can also generate additional income through parking fees or RUBS implementation.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Carport
Total Parking Spaces 9
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5053032036
Special Listing Condition Standard
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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc.
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