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Le Roi 254 S Normandie Ave 12 Unit Apartment Building $3,047,462 CAD ($253,955 CAD/Unit) 5.48% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Significant potential upside of 115% to non-renovated units. 6/12 units renovated.
- New elastomeric roof coating, copper plumbing and new electrical in renovated units.
- Onsite laundry room. No onsite manager required.
- Some tenants have expressed interest in relocation. DO NOT APPROACH OR DISTURB TENANTS.
- Well-parked: 15 parking spaces, 8 tandem tuck under, 4 detached, 3 garage entry.
- Walking distance to major intersection with multiple retail strip centers, bus stops, and schools.
Executive Summary
JNM Realty exclusively presents 254 S. Normandie Avenue, a well-maintained 12-unit apartment community featuring an attractive unit mix of five (5) studio units and seven (7) one-bedroom, one-bathroom units.
The property offers approximately 33% upside to current rents and more than 130% upside potential among the non-renovated units. The property has been meticulously maintained throughout the current ownership’s tenure of more than 10 years. A detached parking area may also provide additional development potential through constructing accessory dwelling units.
Located near the high-traffic intersection of Normandie Avenue and 3rd Street, the property is within walking distance of neighborhood retail, dining, and multiple Metro bus lines.
254 S. Normandie Avenue presents an exceptional opportunity to acquire a well-located multifamily asset with strong in-place fundamentals and meaningful long-term upside.
The property offers approximately 33% upside to current rents and more than 130% upside potential among the non-renovated units. The property has been meticulously maintained throughout the current ownership’s tenure of more than 10 years. A detached parking area may also provide additional development potential through constructing accessory dwelling units.
Located near the high-traffic intersection of Normandie Avenue and 3rd Street, the property is within walking distance of neighborhood retail, dining, and multiple Metro bus lines.
254 S. Normandie Avenue presents an exceptional opportunity to acquire a well-located multifamily asset with strong in-place fundamentals and meaningful long-term upside.
Property Facts
| Price | $3,047,462 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $253,955 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.48% | Building Size | 7,552 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| Gross Rent Multiplier | 10.72 | Year Built | 1957 |
| No. Units | 12 | Parking Ratio | 1.99/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LAR4 - ZI-2452 Transit Priority Area in the City of Los Angeles ZI-2512 Housing Element Sites ZI-2537 Tree Canopy Equity Index Area ZI-2374 State Enterprise | ||
| Price | $3,047,462 CAD |
| Price Per Unit | $253,955 CAD |
| Sale Type | Investment |
| Cap Rate | 5.48% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.72 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,552 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.99/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR4 - ZI-2452 Transit Priority Area in the City of Los Angeles ZI-2512 Housing Element Sites ZI-2537 Tree Canopy Equity Index Area ZI-2374 State Enterprise |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Ceiling Fans
- Refrigerator
- Oven
- Range
- Tub/Shower
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 533 |
| 1+1 | 7 | - | 533 |
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Exceptional public transit
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5518-007-022 | Improvements Assessment | $1,446,885 CAD |
| Land Assessment | $3,215,308 CAD | Total Assessment | $4,662,193 CAD |
Property Taxes
Parcel Number
5518-007-022
Land Assessment
$3,215,308 CAD
Improvements Assessment
$1,446,885 CAD
Total Assessment
$4,662,193 CAD
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Le Roi | 254 S Normandie Ave
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