2818 Normandie AveLos Angeles, CA 90007
- Apartment buildings
- 3,061 SF
Property Details for 2818 Normandie Ave
- Year built
- 1906
- Property size (Sq ft)
- 3,061 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a two-unit apartment building located at 2818 S Normandie Ave, Los Angeles, CA 90007. Built in 1906, the property boasts a total of 3,061 square feet on a sizable 6,619 square foot lot. The current configuration includes one 5-bedroom, 3-bathroom unit and one 3-bedroom, 1-bathroom unit, generating a scheduled annual gross income of $118,200. This translates to a strong 6.50% cap rate, offering a high projected monthly cash flow of $21,000. The property is zoned LARD1.5 and is not subject to the soft-story retrofit program. The asking price is $1,495,000, with a price per square foot of $488.40 and a land value price per square foot of $225.86. The property's location in a strong rental demand market presents significant potential for future appreciation. Furthermore, the lot size allows for the potential construction of two spacious 3-bedroom, 3-bathroom units, further enhancing the investment potential. This is a remarkable opportunity for investors seeking a high-yield, cash-flow positive property in a desirable Los Angeles location. The APN is 5054-006-011.
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0294
- Longitude
- -118.3
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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