We are pleased to present a mixed-use investment opportunity located at 3415 Normandie Ave in the Exposition Park neighborhood of Los Angeles, located on the corner of Normandie Ave & W 35th St and a half mile from the University of Southern California. The property features four structures on two parcels totaling 15 apartment units and three retail spaces; the unit mix consists of seven singles, four one-bedrooms, four two bedrooms, and three retail spaces; six units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with a projected 6.98% CAP rate at the asking price once current vacancies are rented; additional 25% rental upside achievable as additional units turn. Separately metered for gas & electric; there is a community laundry room on-site for additional income. Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Mid-City; walking distance to multiple Metro local lines on W Jefferson Blvd & Normandie Ave and less than a mile from the Metro Expo Rail Station.
Property Details
Price:
$2,300,000
MLS #:
24463391
Status:
Active
Baths:
0
Address:
3415 S Normandie Avenue
Type:
Residential Income
Neighborhood:
c34losangelessouthwest
City:
Los Angeles
Listed Date:
Oct 21, 2024
State:
CA
ZIP:
90007
Lot Size:
11,421 sqft / 0.26 acres (approx)
Year Built:
1924
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Schools
Interior
Cooling
None
Heating
None
Exterior
Parking Features
None
Parking Spots
0.00
Stories Total
2
Financial
Map
Community
- Address3415 S Normandie Avenue Los Angeles CA
- AreaC34 – Los Angeles Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90007
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Courtesy of Marcus & Millichap. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
3415 S Normandie Avenue
Los Angeles, CA
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