3005 Normandie AveLos Angeles, CA 90007

This exceptional 8-unit apartment building presents a compelling investment opportunity in Los Angeles, CA. Located at 3005 Normandie Avenue, this property boasts a prime location near the prestigious USC campus, offering proximity to the 2028 Olympics venue, the future George Lucas Museum (opening 2025), the historic Coliseum, and the vibrant BMO stadium. The 4,837 square foot building sits on a 6,601 square foot R3 lot, providing ample space and potential for future development. The property features a mix of six 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units. Six units have undergone extensive renovations, including new kitchens, bathrooms, and resurfaced hardwood flooring. Recent exterior upgrades include a newer roof (approximately 6.5 years old), new security cameras, fresh paint, and drought-tolerant landscaping. The building offers on-site laundry, further enhancing its appeal to tenants. Its convenient location provides easy access to freeways and public transportation, and boasts a 97 walk score (according to CRMLS), placing it near parks and schools such as Loren Miller Recreation Center and Vermont Avenue Elementary. Tenants are responsible for their own gas and electricity. The property's financial performance is highlighted by a current NOI of $93,589 and a pro-forma NOI of $137,204, resulting in a current cap rate of 5.52% and a pro-forma cap rate of 9.44%. The asking price is $1,695,000, or $211,875 per unit. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a rapidly appreciating Los Angeles neighborhood. The property's APN is 5053-032-036. The building was constructed in 1960 and is a two-story structure with eight parking spaces.