Maher Commercial Realty in partnership with the Ringer Group at Marcus & Millichap is pleased to exclusively present for purchase a three-unit apartment building located at 731 N Normandie Ave. This offering consists of two structures boasting approximately 1,865 square feet of improvements on a 6,602 square feet lot zoned LARD1.5.
The subject property was constructed in 1912 and has two spacious one-bedroom one-bathroom units and one two-bedroom one-bathroom unit. Tenants in this neighborhood enjoy proximity to major schools and employers: Los Angeles City College, Paramount Studios, Children’s Hospital Los Angeles, to name a few. Additionally, this investment opportunity offers quick access to Highway 101 and transportation routes such as the Metro Red and Purple lines. Residents can easily commute to highly sought-after neighboring communities including Hollywood, Los Feliz, Silver Lake, Echo Park and Koreatown.
This opportunity will allow savvy investors to capitalize on existing cash flow and possibly pursue a redevelopment plan in the future.
- List Price: $1,00,000
- Building Size: 1,865 Sq.Ft.
- Lot Size: 6,602 Sq.Ft.
- Number of Units: 3
- Unit Mix: 2 (1+1), 1 (2+1)
- Price Per Sq.Ft. On Building: $536.19
- Price Per Sq.Ft. On Land: $151.47
- Cap Rate: 5.97%
- GRM: 11.42
- NOI: $59,702
- Zoning: LARD1.5
- APN: 5520-001-006