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    11700 S Normandie Ave

    Los Angeles, CA 90044
    • $1,499,000
    • STATUS: Active
    • ON SITE: 10 days
    • ID#: 21-762122
    UPDATED: 53 min ago
    $1,499,000
    • 12
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,648
      SQFT
    • $411
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    We are proud to present this 6-unit multifamily investment property located at 11700 South Normandie Avenue in the 90044 zip code of Los Angeles. The 3,648 square foot subject property sits on a 8,112 square foot lot and with close proximity to the 105 Freeway as well as multiple educational institutions such as Los Angeles Southwest College, Saint Frances X Cabrini Catholic School, and West Athens Elementary, making it a perfect living place for tenants with children, or those continuing their higher education. The subject property comes complete with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units and is currently 100% occupied. Five of the six units are being occupied by Section 8 tenants, providing a new investor stable and secure income something that hasnt been easy to come by in this post-pandemic market.To sweeten the deal even further, the subject property sits in one of LAs Qualified Opportunity Zones, which enables the new investor the opportunity to forego all capital gains taxes on the exit after ample renovation and a 10-year hold. Another way a savvy investor could add significant value would be to utilize the new ADU program that was rolled out state-wide at the beginning of 2020. The program would allow the addition of two, 2 Bedroom / 2 Bathroom units which would generate roughly $50,000 of extra rental income every year and add around $600,000 of property value. This new program is being utilized all over the city as it has offered investors an easy road map to increase income. The ease in which investors are able to get plans for ADUs permitted and approved has alleviated potential suitors a lot of the stresses that come along with developing and dealing with the city as well.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T07:42:27.82. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.theparsonsrealestateteam.com/homes/119421698
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    11700 S Normandie Ave Los Angeles, CA 90044

    • Price: $1,499,000
    • Status: Active
    • Updated: 53 min ago
    • ID#: 21-762122
    12
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    3,648
    SQFT
    $411
    $/SQFT
    1960
    Built
    Neighborhood:
    Metropolitan Southwest
    County:
    Los Angeles
    Area:
    Metropolitan Southwest
    Property Description
    We are proud to present this 6-unit multifamily investment property located at 11700 South Normandie Avenue in the 90044 zip code of Los Angeles. The 3,648 square foot subject property sits on a 8,112 square foot lot and with close proximity to the 105 Freeway as well as multiple educational institutions such as Los Angeles Southwest College, Saint Frances X Cabrini Catholic School, and West Athens Elementary, making it a perfect living place for tenants with children, or those continuing their higher education. The subject property comes complete with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units and is currently 100% occupied. Five of the six units are being occupied by Section 8 tenants, providing a new investor stable and secure income something that hasnt been easy to come by in this post-pandemic market.To sweeten the deal even further, the subject property sits in one of LAs Qualified Opportunity Zones, which enables the new investor the opportunity to forego all capital gains taxes on the exit after ample renovation and a 10-year hold. Another way a savvy investor could add significant value would be to utilize the new ADU program that was rolled out state-wide at the beginning of 2020. The program would allow the addition of two, 2 Bedroom / 2 Bathroom units which would generate roughly $50,000 of extra rental income every year and add around $600,000 of property value. This new program is being utilized all over the city as it has offered investors an easy road map to increase income. The ease in which investors are able to get plans for ADUs permitted and approved has alleviated potential suitors a lot of the stresses that come along with developing and dealing with the city as well.
    Exterior Features

    Lot Size Area 8110 Other Structures None Parking Garage Other Total Parking 0

    Interior Features

    Baths Total 6.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 143890 Gross Income 116304 Gross Operating Income 113535 Like Units1 1 Like Units2 5 Net Operating Income 74031.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 39503 Type Of Units Market Year Built Source Vendor Enhanced Zoning Lcr3yy

    Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T07:42:27.82. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    The Parsons Team | Keller Williams Realty
    251 S. Lake Ave #150
    Pasadena CA, 91101