4201 S Council Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,677 sqft
Price per Sqft $688
MLS Listing ID CL25478099
HOA Y/N No
Year Built 1923
Lot Size 7,702 Sqft
Acres 0.18
Property Sub-Type Other
Property Description
Huge Price Reduction! 100% Fully Renovated & 100% Occupied 18-unit apartment building with permits cash flowing at an amazing 6.5% Cap Rate and 11.3 GRM from day 1! All the units have already been leased at full market rents for +$2,400 per month providing an incredible cash flow. The offering provides investors with a unique opportunity to purchase a premium asset that was completely vacated and renovated. 201 N Normandie Avenue was built in 1923 and boasts 16 stylish apartment homes renovated in 2023 as well as 2 brand-new detached ADUs built in 2024. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of eighteen (18) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features ~8,677 square feet of improvements on a collective ~7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities to further reduce operating costs. The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the p
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5518004008