10
See all 10 photos
$3,200,000
Est. payment /mo
16 Beds
16 Baths
10,252 SqFt
New
837 S Normandie AVE Los Angeles, CA 90005
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,252 sqft
Price per Sqft $312
MLS Listing ID 25555929
Bedrooms 16
HOA Y/N No
Year Built 1925
Lot Size 7,448 Sqft
Property Description
Located two blocks south of Wilshire Blvd, 837 S. Normandie offers a chance to acquire a 16-unit asset in the heart of Koreatown with exceptional cash flow metrics; 9.06 GRM and a 6.50% CAP rate on current income. The building features (16) 1-bdrm. units averaging 600 SF. 12 of the units have undergone modern renovations featuring wood-laminate floors, quartz countertops, stainless steel appliances, updated tilework and cabinetry, recessed lighting, and ceiling fans. The units are separately metered for electricity and master-metered for gas. This allows for an annual rent increase of 4% (buyer to verify). Most units are home to single tenants, and 10 are leased through Section 8; offering reliable, government-backed income. Additionally, there is a RUBS program that generates added income. Notable building improvements include mainly copper plumbing and $15K in waterproofing. The building's highly walkable location is just minutes from three of Koreatown's major neighborhood hubs (Wilshire Blvd, Western Ave, 6th St, and 8th St), lined with some of LA's most popular Korean BBQ joints, dessert cafes, bars, karaoke lounges, retail centers, and cultural institutions. The upcoming Purple Line expansion, which includes light-rail stations along Wilshire and is expected to go live later this year; will further increase accessibility, compress commute times to Downtown and the Westside, and boost rental demand. 837 S. Normandie offers dependable in-place cash flow, and long-term appreciation potential in a constantly developing neighborhood. For the investor seeking yield in a blue-chip urban environment, this is a clear opportunity.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Interior Features Ceiling Fan(s)
Flooring Tile
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Disposal, Microwave, Refrigerator
Laundry Common Area, Laundry Room
Exterior
Parking Features None
View Y/N No
View None
Building
Faces East
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5094019008
Security Features Key Card Entry
Special Listing Condition Standard
Listed by Kenny Stevens Compass