Koreatown Fourplex with Huge 3+1 Units, Parking in Rear and Redevelopment Potential of around 29 Units with TOC

848 Normandie Avenue, Los Angeles, CA

$1,700,000

Price

3.01%

Cap Rate

$51,128

NOI

Overview
Cap Rate
3.01%
NOI
$51,128
Building Size
5,660 sqft
Lot Area
6,750 sqft
Occupancy
100%
Units
4
GRM
19.5
Zoning
R4-2 Tier 3
Floors
2
Parking Spots
4
Description

Presented for sale is a 4 Unit Apartment Building with tremendous redevelopment upside! Offered with a potential for vacancies, this building features huge 3+1 units with 4+ parking spaces in the rear.

With a low offer price of $300 a square foot, getting to Market Rents can push this deal to a high 6 CAP.

Come be at the center of it all, surrounded by casual and fine dining, two blocks to Seoul International Park, less than half a mile / four blocks to the Metro Red Line Subway Station, music, bars, shopping...hard to ask for more! Market GRM 10.90 and Market CAP 6.93%


Highlights
  • Huge Upside in Rents Possible
  • Market CAP 6.93% and Market GRM 10.90
  • Walker's Paradise - Walk Score of 93
  • Within half a mile of the Metro Subway Station, Taylor's Steak House, Seoul International Park...
  • Within one mile of Ralphs Supermarket, CVS Pharmacy, The Wiltern, BCD Tofu House, 24 Hour Fitness
  • 4+ Parking Spaces
Documents

Location
Gallery