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    644 N Normandie Ave

    Los Angeles, CA 90004
    • $6,000,000
    • STATUS: Active
    • ON SITE: 135 days
    • ID#: 20-578224
    UPDATED: 49 min ago
    $6,000,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,500
      SQFT
    • $522
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2019
    County:
    Area:

    School Ratings & Info

    Description

    Welcome to 644 N. Normandie Avenue, a non-rent-controlled new construction 13 unit apartment building, featuring 12 townhouses and one studio unit built in 2019 by Schon Tepler Group, Inc. located in LA's trendy East Hollywood neighborhood. The subject offering presents an investor with an opportunity to purchase best value new construction. Only 15.49 GRM, which is below the market average for new construction. The subject building features 12 one-bedroom + loft units, each with their own balcony and parking space. Owner is in the process of creating an additional ground-floor +/- 400 square foot unit which is projected to bring an additional $1,900/month in rent. It is currently 100% leased and stands-out as a solid and stable investment opportunity given that 100% of tenants have paid rent in April and May 2020 when on average only +/- 70% of Los Angeles residential tenants paid rent in April.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-27T11:42:14.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/105853783
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    644 N Normandie Ave Los Angeles, CA 90004

    • Price: $6,000,000
    • Status: Active
    • Updated: 49 min ago
    • ID#: 20-578224
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    11,500
    SQFT
    $522
    $/SQFT
    2019
    Built
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    Property Description
    Welcome to 644 N. Normandie Avenue, a non-rent-controlled new construction 13 unit apartment building, featuring 12 townhouses and one studio unit built in 2019 by Schon Tepler Group, Inc. located in LA's trendy East Hollywood neighborhood. The subject offering presents an investor with an opportunity to purchase best value new construction. Only 15.49 GRM, which is below the market average for new construction. The subject building features 12 one-bedroom + loft units, each with their own balcony and parking space. Owner is in the process of creating an additional ground-floor +/- 400 square foot unit which is projected to bring an additional $1,900/month in rent. It is currently 100% leased and stands-out as a solid and stable investment opportunity given that 100% of tenants have paid rent in April and May 2020 when on average only +/- 70% of Los Angeles residential tenants paid rent in April.
    Exterior Features

    Cross Streets Melrose Avenue Garage Structures Total 1 Lot Size Area 7504 Other Structures None Parking Garage Subterranean Total Parking 13

    Interior Features

    Baths Total 19.00 Cooling Air Conditioning Equipment DryerRange/OvenRefrigeratorWasher Heating Central Laundry In Unit

    Property Features

    Builders Name Schon Tepler GroupInc. Electric Expense 1971.00 Gross Income 387120 Gross Operating Income 387120 Insurance Expense 2500.00 Like Units1 12 Like Units2 1 Management Expense 10929.00 Monthly Gross Income 32260.00 Net Operating Income 273381.00 Number Of Buildings 1 Number Of Units 13 Rent Control YN No Sale Type Standard Source Living Area Other Source Lot Size Area Other Source Lot Size Dimensions Other Total Annual Expense 113738 Trash Expense 3049.00 Type Of Units 1Bed + Loft Water Expense 3500.00 Year Built Source Builder Zoning Lar3

    Listing provided courtesy of Oron Maher DRE#02062365 of California Real Property, Inc.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-27T11:42:14.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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