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$ 1,950,000
Est. payment /mo
Active
541 S Normandie AVE Los Angeles, CA 90020
8 Beds
12 Baths
7,481 SqFt
UPDATED:
Key Details
Property Type Other Types
Listing Status Active
Purchase Type For Sale
Square Footage 7,481 sqft
Price per Sqft $260
MLS Listing ID 25541707
Bedrooms 8
HOA Y/N No
Year Built 1955
Lot Size 7,509 Sqft
Property Description
Located at the intersection of Normandie and 6th, just one block from the iconic Quarters KBBQ, this 12-unit apartment building offers an exceptional opportunity to acquire a value-add asset in one of Los Angeles' most vibrant and high-demand rental markets. The property consists of one bachelor, three singles, and eight one-bedroom units only one of which has been renovated in the past 30 years, (light touch up in others) making it a perfect candidate for a comprehensive renovation strategy. This provides a clear path to capturing substantial upside through targeted unit upgrades and improved management. The building also features a garage at the front, which could be considered for future ADU conversion, as well as a rear parking area and an on-site laundry room with owner-owned washer/dryers, providing additional income. The property benefits from a charming side garden that is well-maintained by tenants, enhancing the building's curb appeal and offering a welcoming environment. Despite a current in-place cap rate of just 3.73%, the property's proforma cap rate exceeds 10.5%, even under conservative underwriting assumptions. This significant upside potential makes it a rare find in today's market, with the ability to create substantial value and unlock a high return on investment. With the location, strong rental demand, and numerous avenues for growth, this Koreatown asset offers a rare opportunity to reposition and capitalize on long-term appreciation and income growth.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Appliance Gas Cooktop, Refrigerator
Laundry In Garage
Exterior
Parking Features Detached Carport
Attached Garage No
Total Parking Spaces 11
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5502017003
Special Listing Condition Standard
Listed by Shaya Braverman • Keller Williams Beverly Hills
