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    3020 S Normandie Ave

    Los Angeles, CA 90007
    • $1,080,000
    • STATUS: Closed
    • ON SITE: 45 days
    • MLS #: 21-746702
    Sold - 07/22/2021
    $1,080,000
    SOLD - 07/22/2021
    • 2
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,800
      SQFT
    • $600
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    We are pleased to offer the opportunity to acquire this 6,454 SF lot Student Housing Development opportunity located at 3020 S. Normandie Avenue, blocks to the University of Southern California (USC).The site offers a zoning ordinance of LAR3 (Q-condition), which allows for the construction of 5 units by right. With a Tier 1 TOC (50% density bonus), this allows for the development of an additional 4 units, totaling a potential 9 buildable units. The duplex is 100% occupied and will be delivered occupied upon the close of escrow.

    Sold by Davis Saadian BRE#01921748 of Keller Williams Beverly Hills.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-24T23:42:36.89. 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/118044336
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    3020 S Normandie Ave Los Angeles, CA 90007

    • Price: $1,095,000
    • Status: Closed
    • Updated: 129 min ago
    • MLS #: 21-746702
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    1,800
    SQFT
    $600
    $/SQFT
    1922
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    We are pleased to offer the opportunity to acquire this 6,454 SF lot Student Housing Development opportunity located at 3020 S. Normandie Avenue, blocks to the University of Southern California (USC).The site offers a zoning ordinance of LAR3 (Q-condition), which allows for the construction of 5 units by right. With a Tier 1 TOC (50% density bonus), this allows for the development of an additional 4 units, totaling a potential 9 buildable units. The duplex is 100% occupied and will be delivered occupied upon the close of escrow.
    Exterior Features

    Lot Size Area 6454 Other Structures Other Parking Garage None Total Parking 0

    Interior Features

    Baths Total 2.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 287362 Gross Income 33600 Gross Operating Income 32592 Like Units1 2 Net Operating Income 22815.00 Number Of Buildings 1 Number Of Units 2 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 9777 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Davis Saadian DRE#01921748 of Keller Williams Beverly Hills.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-24T23:42:36.89. 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