167 S Normandie | Los Angeles, CA 90004
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- LoopNet Team
167 S Normandie
Los Angeles, CA 90004
Normandie Lofts · Multifamily Property For Sale
·
50 Units
INVESTMENT HIGHLIGHTS
- THE OPPORTUNITY: Normandie Lofts is a 50-unit, 1920’s vintage value add opportunity in a centralized location of Los Angeles – Koreatown.
- PROVEN VALUE-ADD STRATEGY: Current ownership has modestly renovated a handful of units in which have returned near market returns.
- TRANSIT ORIENTED: Located near the DASH Wilshire Center/Koreatown bus line and residents are within a 15-minute walk of the Metro Purple Line.
- PRICED TO SELL: $159,900 per unit, $299 per square foot, 5.07% Cap Rate and 10.9 GRM on Current Income with Proven Rental Upside.
- PROPERTY TAX ABATEMENT: There is an opportunity to eliminate property taxes through an ownership structure with a minority interest non-profit.
- BUILDING AMENITIES: Common area amenities at Normandie Lofts include on-site laundry, a security camera system, and an elevator.
PROPERTY FACTS
| No. Units | 50 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 26,736 SF |
| Property Subtype | Apartment | Average Occupancy | 98% |
| Apartment Style | Mid-Rise | No. Stories | 5 |
| Building Class | C | Year Built | 1928 |
| Zoning | R3 | ||
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 26,736 SF |
| Average Occupancy | 98% |
| No. Stories | 5 |
| Year Built | 1928 |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Oven
SITE AMENITIES
- Laundry Facilities
- Security System
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 42 | - | 375 |
| 1+1 | 8 | - | 660 |
PROPERTY TAXES
| Parcel Number | 5518-002-013 | Improvements Assessment | $7,113,943 |
| Land Assessment | $3,663,681 | Total Assessment | $10,777,624 |
PROPERTY TAXES
Parcel Number
5518-002-013
Land Assessment
$3,663,681
Improvements Assessment
$7,113,943
Total Assessment
$10,777,624
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