Description
The property is situated in the heart of Koreatown, offering a location with compelling fundamentals, abundant entertainment, dining amenities and easy access to numerous employment centers and retail/entertainment venues. The asset is a two-story building situated on a 7,927 square foot lot consisting of four studios, six one-bedroom units, and two two-bedroom units. By bringing in-place rents to market rates and capturing the estimated 69% rental upside along with streamlining expenses, a savvy investor can generate healthy returns for this investment. The subject property allows an investor to acquire a value-add apartment asset in a desirable location. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate the units and achieve superior future returns make 259 South Normandie Avenue an excellent acquisition opportunity. Soft-story Retrofit is completed.
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8BEDS
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0.18ACRES
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0BATHS
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01/2 BATHS
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7,638SQFT
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$327$/SQFT
School Ratings & Info
Description
The property is situated in the heart of Koreatown, offering a location with compelling fundamentals, abundant entertainment, dining amenities and easy access to numerous employment centers and retail/entertainment venues. The asset is a two-story building situated on a 7,927 square foot lot consisting of four studios, six one-bedroom units, and two two-bedroom units. By bringing in-place rents to market rates and capturing the estimated 69% rental upside along with streamlining expenses, a savvy investor can generate healthy returns for this investment. The subject property allows an investor to acquire a value-add apartment asset in a desirable location. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate the units and achieve superior future returns make 259 South Normandie Avenue an excellent acquisition opportunity. Soft-story Retrofit is completed.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T10:42:43.49. 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.