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$2,300,000
Est. payment /mo
13 Beds
13 Baths
7,227 SqFt
UPDATED:
12/05/2024 05:22 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,227 sqft
Price per Sqft $318
MLS Listing ID 24463391
Bedrooms 13
HOA Y/N No
Year Built 1924
Lot Size 0.262 Acres
Property Description
We are pleased to present a mixed-use investment opportunity located at 3415 Normandie Ave in the Exposition Park neighborhood of Los Angeles, located on the corner of Normandie Ave & W 35th St and a half mile from the University of Southern California. The property features four structures on two parcels totaling 15 apartment units and three retail spaces; the unit mix consists of seven singles, four one-bedrooms, four two bedrooms, and three retail spaces; six units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with a projected 6.98% CAP rate at the asking price once current vacancies are rented; additional 25% rental upside achievable as additional units turn. Separately metered for gas & electric; there is a community laundry room on-site for additional income. Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Mid-City; walking distance to multiple Metro local lines on W Jefferson Blvd & Normandie Ave and less than a mile from the Metro Expo Rail Station.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning C2-1VL-O-CPIO
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5041001001
Special Listing Condition Standard
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Listed by Neema Ahadian • Marcus & Millichap
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