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    229 S Normandie Ave

    Los Angeles, CA 90004
    • $7,100,000
    • STATUS: Active
    • ON SITE: 42 days
    • MLS #: 21-710390
    UPDATED: 79 min ago
    $7,100,000
    • 36
      BEDS
    • 0.37
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,575
      SQFT
    • $456
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:
    Area:

    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 the Combined LA/Westside Multiple Listing Service as of 2021-05-05T23:42:23.267. 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.markwiseproperties.com/homes/115439260
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    229 S Normandie Ave Los Angeles, CA 90004

    • Price: $7,100,000
    • Status: Active
    • Updated: 79 min ago
    • MLS #: 21-710390
    36
    Beds
    0
    Baths
    0
    ½ Baths
    0.37
    Acres
    15,575
    SQFT
    $456
    $/SQFT
    1988
    Built
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    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 Lot Size Area 16072 Other Structures None Parking Garage GatedAttachedCovered Parking Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Total Parking 31

    Interior Features

    Baths Total 22.00 Cooking Appliances Cooktop - GasOvenMicrowave Cooling Ceiling FanWall/Window Equipment Range/OvenRefrigeratorCeiling FanMicrowave Heating Central Laundry Community Water Heater Features Central Water Heater

    Property Features

    Assessed Total Value 7522500 Gross Income 511548 Gross Operating Income 514382 Like Units1 4 Like Units2 14 Like Units3 2 Like Units4 1 Net Operating Income 317619.00 Number Of Buildings 1 Number Of Units 20 Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 181417 Type Of Units 1 Bed2 Bed Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Jared Warren DRE# of Colliers International- Los Angeles.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-05T23:42:23.267. 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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    Mark Wise | Bennion Deville Homes
    71691 Highway 111
    Rancho Mirage CA, 92270