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941 N Normandie Ave

Los Angeles, CA 90029
  • $2,950,000
  • STATUS: Active
  • ON SITE: 19 days
  • ID#: 21-758614
$2,950,000
  • 12
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,086
    SQFT
  • $580
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1986
County:
Area:

School Ratings & Info

Description

I am pleased to present the opportunity to acquire 941North Normandie Avenue, a seven-unit luxury apartment building located in East Hollywood. Constructed in 1986, the property is not subject to the more restrictive Los Angeles rent control and allowsfor higher annual rent increases. Current ownership has extensively renovated all units at the property with high end finishes including large open concept kitchen/living area, stainless steel appliances, in-unit washer/dryer, central AC/heat with Nest controls, Ring doorbell along with new flooring, fixtures and tankless water heaters. Additionally, the common area has been improved with new exterior paint, new secured parking and new landscaping upgrades.941 North Normandie Avenue provides investors a rare buying opportunity to acquire a fully renovated apartment community that also offersa value-add component. The property is well suited to provide a healthy income stream and solid market appreciation as the area continues its upward trajectory.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T23:42:33.61. 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/119124654
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941 N Normandie Ave Los Angeles, CA 90029

  • Price: $2,950,000
  • Status: Active
  • ID#: 21-758614
12
Beds
0
Baths
0
½ Baths
0.19
Acres
5,086
SQFT
$580
$/SQFT
1986
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
I am pleased to present the opportunity to acquire 941North Normandie Avenue, a seven-unit luxury apartment building located in East Hollywood. Constructed in 1986, the property is not subject to the more restrictive Los Angeles rent control and allowsfor higher annual rent increases. Current ownership has extensively renovated all units at the property with high end finishes including large open concept kitchen/living area, stainless steel appliances, in-unit washer/dryer, central AC/heat with Nest controls, Ring doorbell along with new flooring, fixtures and tankless water heaters. Additionally, the common area has been improved with new exterior paint, new secured parking and new landscaping upgrades.941 North Normandie Avenue provides investors a rare buying opportunity to acquire a fully renovated apartment community that also offersa value-add component. The property is well suited to provide a healthy income stream and solid market appreciation as the area continues its upward trajectory.
Exterior Features

Lot Size Area 8400 Other Structures None Parking Garage Uncovered Total Parking 15

Interior Features

Baths Total 7.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 2106810 Gross Income 207600 Gross Operating Income 201372 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 136838.00 Number Of Buildings 1 Number Of Units 7 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 64534 Type Of Units Residential Year Built Source Assessor Zoning Lar3

Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T23:42:33.61. 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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