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    229 S Normandie Avenue

    Los Angeles (City), CA 90004
    • $7,100,000
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: 21710390
    $7,100,000
    • 0
      BEDS
    • 0.36
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,575
      SQFT
    • $456
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:

    School Ratings & Info

    Description

    1988 construction 20-unit apartment building situated on a large 16,072-square-foot double lot| 4.5% cap rate on actuals, 5.29% at market | Spacious two-bedroom units with hardwood floors, granite counter-tops, full baths, walk-in closets, appliances, balconies, patios, and wall-unit air conditioning | Community amenities include gated entry, ample reserved parking, twenty-four hour surveillance cameras, and onsite laundry | The building has been well maintained with quality interior upgrades while the opportunity is available to add further value through strategic upgrades to the units and by generating income from parking | Subject only to State of California rent control with 5% + CPI rent increases | Well maintained and quiet building on the border of Koreatown and East Hollywood

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-09T00:31:44.637. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
    www.propertycove.com/homes/115440063
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    229 S Normandie Avenue Los Angeles (City), CA 90004

    • Price: $7,100,000
    • Status: Active
    • ID#: 21710390
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.36
    Acres
    15,575
    SQFT
    $456
    $/SQFT
    1988
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    1988 construction 20-unit apartment building situated on a large 16,072-square-foot double lot| 4.5% cap rate on actuals, 5.29% at market | Spacious two-bedroom units with hardwood floors, granite counter-tops, full baths, walk-in closets, appliances, balconies, patios, and wall-unit air conditioning | Community amenities include gated entry, ample reserved parking, twenty-four hour surveillance cameras, and onsite laundry | The building has been well maintained with quality interior upgrades while the opportunity is available to add further value through strategic upgrades to the units and by generating income from parking | Subject only to State of California rent control with 5% + CPI rent increases | Well maintained and quiet building on the border of Koreatown and East Hollywood
    Exterior Features

    Entry Location Foyer Parking Features CoveredGated Pool Features None Pool Private YN No Spa Features None Spa YN No

    Interior Features

    Appliances Gas CooktopMicrowaveOvenRefrigerator Cooling Wall/Window Unit(S) Cooling YN Yes Heating Central Heating YN Yes

    Property Features

    Community Features Gated Gross Income 511548 Laundry Features Common Area Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 317619 Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 2 Zoning Lar3

    Listing provided courtesy of Jared Warren of Colliers International- Los Angeles


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-09T00:31:44.637. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
     
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    The Bhagat Group
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    Torrance CA, 90505