201 N Normandie Ave, Los Angeles, CA 90004
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201 N Normandie Ave Los Angeles, CA 90004

$6,100,000
  • 18 Beds
  • 18 Baths
  • 8,677 Sq.Ft.
For Sale
$6,100,000 Get Pre-Qualified

Map preview of 201 N Normandie Ave, Los Angeles, CA 90004

Property Overview: 201 N Normandie Ave Los Angeles, CA has 18 bedrooms, 18 bathrooms, 8,677 living square feet and 7,702 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: Price Reduction! 100% Fully renovated 18-unit apartment building with permits cash flowing at an amazing 6.26% Cap Rate and 11.6 GRM from day 1! All the units have already been leased at full market rents for ~$2,400 per month providing an incredible cash flow. The offering provides investors with a unique opportunity to purchase a premium asset that was completely vacated and renovated. 201 N Normandie Avenue was built in 1923 and boasts 16 stylish apartment homes renovated in 2023 as well as 2 brand-new detached ADUs built in 2024. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of eighteen (18) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features ~8,677 square feet of improvements on a collective 7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities to further reduce operating costs. The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities, modern fixtures, along with sleek shower stalls. The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns along with long-term wealth preservation and appreciation.

Listed by Armin Soleimani | BRE #01846872 | Global Platinum Properties, Inc.
Co-listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Last checked: 9 minutes ago | Last updated: June 18th, 2024 | Source CRMLS | DOM: 55
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Home details

Lot Sq. Ft
7,702
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24394451
City
Los Angeles
County
Los Angeles
Time on Site
48 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,424
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,350
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,410
  • Total Rent: $2,410
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,440
  • Total Rent: $2,440
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 5
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 6
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,407
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,407
  • Pro Forma/Market Rent: $2,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.26%
  • Gross Rent Multiplier: 11.6
  • Gross Scheduled Income: --
  • Net Operating Income: $381,819
  • Gross Operating Income: $507,807
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 201 N Normandie Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 18
  • Parcel Number: 5518004008
  • Foundation Details: Raised
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: It is located between Council and Beverly, on the north side of Normandie.
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Sale History for 201 N Normandie Ave

Last sold for $2,423,500 on April 19th, 2022
  • May, 2024

  • May 20, 2024

    Date

    Active

    CRMLS: 24394451

    $6,300,000

    Price

  • May, 2024

  • May 2, 2024

    Date

    Canceled

    CRMLS: 24366329

    $5,600,000

    Price

  • Mar 7, 2024

    Date

    Active

    CRMLS: 24366329

    $5,600,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 400k Price Reduction! 100% Fully renovated 16-unit apartment building (13 vacant) with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are fully approved RTI plans to add two detached ADUs in the garages (Under Construction) to achieve a remarkable 7% Cap Rate and 10.7 GRM.201 North Normandie Avenue is a sixteen-unit apartment community in Los Angeles, CA. The offering provides investors with a unique opportunity to purchase a premium asset that is completely vacant and lease out at market rates. 201 N Normandie Avenue was built in 1923 and boasts sixteen stylish apartment homes. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of sixteen (16) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features 7,956 square feet of improvements on a collective 7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities.The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities, modern fixtures, along with sleek shower stalls. And the cherry on top is ownership has Ready-to-Issue plans for two detached 1-bedroom ADUs where the garages currently are, providing an additional stream of income.The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns along with long-term wealth preservation and appreciation.

  • March, 2024

  • Mar 5, 2024

    Date

    Canceled

    CRMLS: 24345093

    $5,600,000

    Price

  • Jan 8, 2024

    Date

    Active

    CRMLS: 24345093

    $5,750,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 400k Price Reduction! 100% Fully renovated 16-unit apartment building (13 vacant) with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are fully approved RTI plans to add two detached ADUs in the garages (Under Construction) to achieve a remarkable 7% Cap Rate and 10.7 GRM. 201 North Normandie Avenue is a sixteen-unit apartment community in Los Angeles, CA. The offering provides investors with a unique opportunity to purchase a premium asset that is completely vacant and lease out at market rates. 201 N Normandie Avenue was built in 1923 and boasts sixteen stylish apartment homes. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of sixteen (16) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features 7,956 square feet of improvements on a collective 7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities. The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities, modern fixtures, along with sleek shower stalls. And the cherry on top is ownership has Ready-to-Issue plans for two detached 1-bedroom ADUs where the garages currently are, providing an additional stream of income. The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns along with long-term wealth preservation and appreciation.

  • January, 2024

  • Jan 5, 2024

    Date

    Canceled

    CRMLS: 23332855

    $5,750,000

    Price

  • Nov 16, 2023

    Date

    Active

    CRMLS: 23332855

    $5,995,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 250k Price Reduction! 100% Vacant and Fully renovated 16-unit apartment building with permits cash flowing at an amazing 5.8% Cap Rate and 12.4 GRM from day 1! Additionally, there are fully approved RTI plans to add two detached ADUs in the garages to achieve a remarkable 6.7% Cap Rate and 11 GRM. 201 North Normandie Avenue is a sixteen-unit apartment community in Los Angeles, CA. The offering provides investors with a unique opportunity to purchase a premium asset that is completely vacant and lease out at market rates. 201 N Normandie Avenue was built in 1923 and boasts sixteen stylish apartment homes. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of sixteen (16) spacious and well-designed One-Bedroom | One-Bathroom units. 201 North Normandie Avenue features 7,956 square feet of improvements on a collective 7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities. The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities, modern fixtures, along with sleek shower stalls. And the cherry on top is that ownership has Ready-to-Issue plans for two detached 1-bedroom ADUs where the garages currently are, providing an additional income stream. The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to many entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns and long-term wealth preservation and appreciation.

  • April, 2022

  • Apr 19, 2022

    Date

    Sold

    CRMLS: 22147587

    $2,423,500

    Price

  • Apr 18, 2022

    Date

    Active

    CRMLS: 22147587

    $2,423,500

    Price

  • Listing provided courtesy of CRMLS

    MLS Input Only For Data/Comparable Purposes. Built in 1923, 201 N Normandie Avenue consists of Twelve (12) One-bedroom | One-bathroom units and Four (4) Studio apartments. The gated, two-story property surrounds a central courtyard featuring a mature landscaping. In all the property consists of 7,956 square feet on a 7,700 square foot lot, zoned LAR3 with four parking garages. Centrally located in Wilshire Center, 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Koreatown.

  • December, 2009

  • Dec 30, 2009

    Date

    Sold (Public Records)

    Public Records

    $5,000

    Price

  • April, 2009

  • Apr 15, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 201 N Normandie Ave

Assessed Value (2020): $1,328,504
Year Land Value Improved Value Assessed Value
2020 $708,173 $620,331 $1,328,504

Home Value Compared to the Market

This property vs the competition

201 N Normandie Ave is listed 408.33% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $703.01 per/sqft which puts the price per square foot 9.05% lower than the median price per square foot for the city of Los Angeles.

About 201 N Normandie Ave

Detailed summary of property

201 N Normandie Ave is a multi family located in Los Angeles, CA 90004 and is currently for sale. This multi family property offers 18 bedrooms, 18 bathrooms, roughly 8,677 living square feet, and sits on an approximately 7,702 square foot lot. 201 N Normandie Ave was first listed on ArdentRealEstateGroup.com on May 28, 2024. The homeowner is currently asking $6,100,000 and was originally asking $6,300,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 408.33% higher than the median priced home. Local competing homes currently for sale include 1214 S Lake St, 264 S Union Ave and 1908 Hillcrest Rd. While the average home in Los Angeles, CA is selling in 101 days, 201 N Normandie Ave has a days on market of 55 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 201 N Normandie Ave Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 201 N Normandie Ave

Public county record property details
Beds
8
Baths
16
Year built
1923
Sq. Ft.
7,956
Lot Size
7,700
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5518-004-008

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,249,000
Median List Price/Sq.Ft.
$755
Median Sold Price
$2,215,000
Median Sold Price/Sq.Ft.
$919
Total Inventory
69
Median Sale to List Price %
110.81%
Avg Days on Market
24
Loan Type
Conventional (7.69%), FHA (0%), VA (0%), Cash (15.38%), Other (0%)

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Related Resources to 201 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.