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Jenarda Makupson

jenarda@kingdomkeysrealty.net +1(818) 200-5538

$ 1,950,000

Est. payment | -/mo

8 Beds

12 Baths

7,481 SqFt

Save

$ 1,950,000

Est. payment | -/mo

Save

8 Beds

12 Baths

7,481 SqFt

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

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(818) 200-5538

jenarda@kingdomkeysrealty.net

303 North Glenoaks Boulevard #255, Burbank, CA 91501, USA

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541 S Normandie AVE Los Angeles, CA 90020