4307 Normandie Ave, Los Angeles, CA 90037
8 Unit Apartment Building | $1,350,000 ($168,750/Unit) | 5.85% Cap Rate | Los Angeles, CA 90037
For Sale
Active
Asking Price $1,350,000
- Property Type
-
Multifamily
- Square Feet
- 3,640 SF
Listing Contacts
Sevak Keshishian
Shara Parseghian
Property Overview
Marcus and Millichap is pleased to present the opportunity to acquire 4307 S. Normandie Avenue, an 8-unit multifamily property located in the Vermont Square neighborhood of South Los Angeles. Built in 1924, this one-story building sits on a 6,447 square foot lot with 3,640 square feet of rentable space and consists of (8) 1bed/1Bath units. The property boasts an average rent of $1,287/unit and roughly 40% in rental upside to be captured in the future. All units have individual trash bins, all units are separately metered for gas and electricity and tenants’ benefit from a gated entrance. The property is professionally managed and well maintained. Buyers are encouraged to verify accuracy of building records and data.
Located north of West Vernon Avenue and east of South Western Avenue, the subject property is walking distance to multiple public transportation stops at the corner of South Normande Ave and West Vernon Avenue. Nearby destinations include the University of Southern California, LA Memorial Coliseum, BMO Stadium, Exposition Park, Lucas Museum of Narrative Art, Natural History Museum, and California Science Center. For commuters, the 10 and 110 Freeways are minutes away, providing access throughout Greater Los Angeles.
Located north of West Vernon Avenue and east of South Western Avenue, the subject property is walking distance to multiple public transportation stops at the corner of South Normande Ave and West Vernon Avenue. Nearby destinations include the University of Southern California, LA Memorial Coliseum, BMO Stadium, Exposition Park, Lucas Museum of Narrative Art, Natural History Museum, and California Science Center. For commuters, the 10 and 110 Freeways are minutes away, providing access throughout Greater Los Angeles.
Property Details
- Class
- C
- Year Built
- 1924
- Stories
- 1
- Lot Size (sq. ft)
- 6,534 SF
- Units
- 8
Highlights
- Approximately 40% in Rental Upside
- Individually Metered for Gas & Electricity
- Low Operating Expenses
- Professionally Managed
- High Rental Demand Area
- Proximity to USC and DTLA
Nearby Properties
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