1405 N Normandie Ave, Los Angeles, CA 90027
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1405 N Normandie Ave Los Angeles, CA 90027

$3,250,000
  • 15 Beds
  • 16 Baths
  • 10,001 Sq.Ft.
For Sale
$3,250,000 Get Pre-Qualified

Map preview of 1405 N Normandie Ave, Los Angeles, CA 90027

Property Overview: 1405 N Normandie Ave Los Angeles, CA has 15 bedrooms, 16 bathrooms, 10,001 living square feet and 7,315 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are very pleased to exclusively offer for sale The Villas at Normandie, a 1989 construction townhouse-style property situated on a 7,315 square foot corner lot just steps from World Famous Sunset Boulevard and its many popular shops, concert venues and restaurants. The Villas at Normandie is also located very close to historic and prestigious Los Feliz and all the trendy retail and dining destinations it has to offer, including Homestate, Vista Theatre, Mirate, Fred 62, Saffy's, House of Pies and so much more. Built in 1989 and only subject to AB1482, which allows for 5% + CPI of 3.8%, total 8.8% max annual increases, The Villas at Normandie is comprised of seven large and bright 2 bedroom, 2.5 bath two-story townhouse units, each totaling 1,280 square feet, all complete with gas fireplaces and many with balconies, 4 of which will be delivered vacant at the close and ready to be re-imagined and leased at market by a new owner. Seller has approved plans in hand to convert the current 8th non-conforming studio unit to a legal studio ADU unit, plus additional approved plans to also add a 1-bedroom ADU unit, bringing the total number of units to 9. The property features 16 gated parking spaces, which will be reduced to 14 garage spaces once the 9th unit is added. The 2-story townhouse units are very bright and spacious, feature central air and heat, are separately metered for gas and electric, many with balconies and all have in-unit individual water heaters with plenty of available space in water heater closet to swap for a tankless water heater and add a stackable washer/dryer in each unit. Many of the townhouse units feature excellent straight-on views of both the Griffith Park Observatory and Hollywood sign, making them very desirable to future tenants looking for remodeled units with classic Hollywood views. Now that market rents for these type of 2+2.5 townhouses in the surrounding area are achieving well over $3 per foot for similarly remodeled units, a new owner should easily be able to get $3,750 or more per townhouse unit once renovated. The Villas at Normandie presents a new owner the rare opportunity to purchase 1989 construction property in a prime Hollywood location, especially a 1989 building comprised of 2-story 2+2.5 TH units, more than half of which are vacant. Once stabilized, the future 9-unit building will be worth well over $4.4 million and offer its owner very strong cash flow stream with significant income upside through the 8.8% rent increases into the future.

Listed by Dana Brody | BRE #01429001 | Dana Brody
Last checked: 15 minutes ago | Last updated: July 15th, 2024 | Source CRMLS | DOM: 77
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Home details

Lot Sq. Ft
7,315
HOA Dues
$0/mo
Year built
1989
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24389213
City
Los Angeles
County
Los Angeles
Time on Site
75 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,750
  • Total Rent: $26,250
  • Pro Forma/Market Rent: $26,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 11
  • Gross Scheduled Income: --
  • Net Operating Income: $261,490
  • Gross Operating Income: $347,130
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1405 N Normandie Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Fireplace Information
  • Has Fireplace
  • Gas
Room Information
  • Flooring: Carpet
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
  • Security Features: Gated Community
  • Door Features: Sliding Doors
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Community Structure, Controlled Entrance, Gated, Private
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 9
  • Parcel Number: 5544037032
  • Year Built Source: Other
  • Architectural Style: Modern
  • Property Condition: Repairs Cosmetic
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Sunset to Normandie, turn right
View more facts & features

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Sale History for 1405 N Normandie Ave

Last sold for $2,350,000 on October 6th, 2023
  • May, 2024

  • May 7, 2024

    Date

    Active

    CRMLS: 24389213

    $3,250,000

    Price

  • October, 2023

  • Oct 6, 2023

    Date

    Sold

    CRMLS: 23280703

    $2,350,000

    Price

  • Jun 15, 2023

    Date

    Active

    CRMLS: 23280703

    $2,799,000

    Price

  • Listing provided courtesy of CRMLS

    An "1989-constructed", perfectly-located building, between Sunset and Fountain, in the dynamic East Hollywood submarket. Huge, townhome-style, 2-story units, grassy frontage, and lots of on-grade parking in the secured parking structure. Long-term, single family ownership - loooooow current rents. Compelling 6% cap upside, over time, for a savvy Buyer. An 'always-in-demand' rental market surrounded by employers of all types and in the shadow of Griffith Observatory, as well. The Studio unit may be a converted, non-conforming unit (BTV) .

  • May, 2019

  • May 3, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1405 N Normandie Ave

Assessed Value (2020): $876,758
Year Land Value Improved Value Assessed Value
2020 $67,724 $809,034 $876,758

Home Value Compared to the Market

This property vs the competition

1405 N Normandie Ave is listed 170.83% higher than the median list price for the city of Los Angeles which has a median list price of $1,199,999. The median price per/sqft for Los Angeles is $771 and this home is listed at $324.97 per/sqft which puts the price per square foot 57.85% lower than the median price per square foot for the city of Los Angeles.

About 1405 N Normandie Ave

Detailed summary of property

1405 N Normandie Ave is a multi family located in Los Angeles, CA 90027 and is currently for sale. This multi family property offers 15 bedrooms, 16 bathrooms, roughly 10,001 living square feet, and sits on an approximately 7,315 square foot lot. 1405 N Normandie Ave was first listed on ArdentRealEstateGroup.com on May 8, 2024. The homeowner is currently asking $3,250,000. The median priced home in Los Angeles is $1,199,999 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 170.83% higher than the median priced home. Local competing homes currently for sale include 4253 Franklin Ave, 4312 Price St and 811 Kodak Dr. While the average home in Los Angeles, CA is selling in 102 days, 1405 N Normandie Ave has a days on market of 77 days. There are currently 4091 homes for sale in the Los Angeles real estate market and 2731 of them are single family homes while 1235 of them are condos and 119 are townhomes. For more information on this home for sale at 1405 N Normandie Ave Los Angeles, CA 90027 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1405 N Normandie Ave

Public county record property details
Beds
14
Baths
--
Year built
1989
Sq. Ft.
8,960
Lot Size
7,324
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5544-037-032

The source for these homes facts are from public records.

90027 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,249,000
Median List Price/Sq.Ft.
$910
Median Sold Price
$2,050,000
Median Sold Price/Sq.Ft.
$913
Total Inventory
86
Median Sale to List Price %
107.95%
Avg Days on Market
31
Loan Type
Conventional (7.69%), FHA (0%), VA (0%), Cash (15.38%), Other (15.38%)

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Related Resources to 1405 N Normandie Ave

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.