229 S Normandie Ave Los Angeles, CA 90004

$7,375,000 Sold Price as of 06/13/2019

-- Beds
-- Baths
15,575 Sq.Ft.

Off Market

$7,375,000 Sold Price as of 06/13/2019 Refinance Your Mortgage

Map preview of 229 S Normandie Ave, Los Angeles, CA 90004

Property Overview: 229 S Normandie Ave Los Angeles, CA has -- bedrooms, -- bathrooms, 15,575 living square feet and 16,072 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

229 S Normandie Ave is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,209,000. The median price per/sqft for Los Angeles is $771. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $241,800 for the down payment and will need roughly $24,180 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $56,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 229 S Normandie Ave

Last sold for $7,375,000 on June 13th, 2019

April, 2023
Apr 1, 2023

Date

Expired

CRMLS: SR23020520

$2,500

Price
Feb 6, 2023

Date

Active

CRMLS: SR23020520

$2,500

Price
Listing provided courtesy of CRMLS

Newly remodeled top floor unit with parking included. Secured building professionally managed. This apartment is perfect for anyone looking to live in the heart of L.A. This unit is located in Central L.A.(Koreatown) and is minutes away from Hollywood, Downtown and all major highways (the 5, 10, 101, & 110). Looking for environmental friendly transportation? The Metro Red Line is located just minutes away! Its ready to take you to the Capitan Theater, Chinatown, Griffith Park, Union Station, Universal Studios, the San Fernando Valley and much more. Don't miss the opportunity to be close to all the action and give us a call or text. Video tours available upon request.

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July, 2021
Jul 15, 2021

Date

Active

CRMLS: OC21149891

$7,800,000

Price
Listing provided courtesy of CRMLS

Villas Normandie is a 3 story, 21- unit (including 1 non-conforming unit) apartment community that is located on Normandie Ave in Los Angeles. The property is comprised of one residential building totaling 15,000 square feet of rentable space and is situated on a 0.37 - acre lot. Villas Normandie features, studio, one-bedroom and spacious two-bedroom floor plans with an average size of 714 square feet. The property also boasts a beautiful courtyard, covered parking and laundry rooms on each floor. Built in 1988 Villas Normandie is not subject to rent control giving the potential owner the ability to increase rents at market rate. Management has not implemented a Ratio Utility Billing System ("RUBS")while Koreatown is at 97% occupancy and applying RUBS. This provides the potential investor the opportunity to enhance yield in the near - term by enabling RUBS and capturing additional revenue. Villas Normandie is definitely an attractive opportunity for the right investor.

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July, 2021
Jul 15, 2021

Date

Expired

CRMLS: 21710390

$7,100,000

Price
May 11, 2021

Date

Withdrawn

CRMLS: 21710390

$7,100,000

Price
Mar 25, 2021

Date

Active

CRMLS: 21710390

$7,100,000

Price
Listing provided courtesy of CRMLS

1988 construction 20-unit apartment building situated on a large 16,072-square-foot double lot| 4.5% cap rate on actuals, 5.29% at market | Spacious two-bedroom units with hardwood floors, granite counter-tops, full baths, walk-in closets, appliances, balconies, patios, and wall-unit air conditioning | Community amenities include gated entry, ample reserved parking, twenty-four hour surveillance cameras, and onsite laundry | The building has been well maintained with quality interior upgrades while the opportunity is available to add further value through strategic upgrades to the units and by generating income from parking | Subject only to State of California rent control with 5% + CPI rent increases | Well maintained and quiet building on the border of Koreatown and East Hollywood

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June, 2019
Jun 13, 2019

Date

Sold

CRMLS: 19452196

$7,375,000

Price
Apr 15, 2019

Date

Pending

CRMLS: 19452196

$7,450,000

Price
Apr 5, 2019

Date

Active

CRMLS: 19452196

$7,450,000

Price
Listing provided courtesy of CRMLS

Villas Normandie, located at 229 South Normandie Avenue, is a 21-unit apartment building in the Koreatown area of Los Angeles that, being built in 1988, is exempt from the rent stabilization ordinance (not subject to rent control). The property is a three-story, walk-up courtyard building over a level of parking. The property features a unit mix of one studio apartment, four units that are one-bedrooms with one-bathroom, 14 units that are two-bedrooms with one-bathroom, and two units that are two-bedrooms with two-bathrooms. The property is individually metered for gas and electricity. The studio unit is non-conforming, and the certificate of occupancy is for 20 units. With a Walk Score of 89, the property is situated steps from 3rd Street with multiple retail and dining options. The Seller recently completed a major renovation of the property. Most units were upgraded and the exterior, including the courtyard, was remodeled.

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June, 2019
Jun 13, 2019

Date

Sold (Public Records)

Public Records

$7,375,000

Price
September, 2017
Sep 6, 2017

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 229 S Normandie Ave

Assessed Value (2020): $7,526,900

Year	Land Value	Improved Value	Assessed Value
2020	$4,889,880	$2,637,020	$7,526,900

About 229 S Normandie Ave

Detailed summary of property

229 S Normandie Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90004 and last sold on June 13, 2019 for $7,375,000. This property has -- bedrooms, -- bathrooms, roughly 15,575 living square feet, and sits on an approximately 16,072 square foot lot. Homes in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 558.48% higher than the current median priced home. 229 S Normandie Ave was last sold on June 13, 2019 for $7,375,000. Local nearby listings include 525 S Ardmore Ave #320, 525 S Ardmore Ave #121 and 514 S Harvard Blvd #204. The average home in Los Angeles, CA is selling in 105 days. There are currently 4124 homes for sale in the Los Angeles real estate market and 2828 of them are single family homes while 1171 of them are condos and 118 are townhomes. If you are the homeowner and looking to sell the home at 229 S 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 229 S Normandie Ave

Public county record property details

Beds: --
Baths: --
Year built: 1988
Sq. Ft.: 15,575
Lot Size: 16,072
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 5,6
APN: 5518-001-031

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

$1,500,000

Median List Price/Sq.Ft.

$810

Median Sold Price

$790,000

Median Sold Price/Sq.Ft.

$601

Total Inventory

Median Sale to List Price %

95.18%

Avg Days on Market

Loan Type

Conventional (11.11%), FHA (0%), VA (0%), Cash (0%), Other (22.22%)

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(714) 706-1823

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