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3000 S Normandie Ave, Los Angeles, CA 90007
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3000 S Normandie Ave Los Angeles, CA 90007

$6,000,000 Sold Price as of 12/15/2021
  • 28 Beds
  • 28 Baths
  • 8,400 Sq.Ft.
Sold
$6,000,000 Sold Price as of 12/15/2021 Refinance Your Mortgage
Map preview of 3000 S Normandie Ave, Los Angeles, CA 90007

Property Overview: 3000 S Normandie Ave Los Angeles, CA has 28 bedrooms, 28 bathrooms, 8,400 living square feet and 9,679 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer the opportunity to acquire this turnkey eight (8) unit, twenty-eight (28) bedroom + twenty-eight (28) bathroom Student Housing Master Lease investment opportunity, located in the DPS Patrol Zone, and walking distance to the University of Southern California (USC).The subject property was completely updated and remodeled in 2019, and features brand new hardwood floors, updated copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, wall-mounted flat screen televisions, and new in-unit washer & dryers. The property is approximately 8,400 rentable square feet on a 9,679 square foot lot and is comprised of two (2) separate structures, with a unit mix consisting of four (4) 3-bedroom + 3-bathroom units, and four (4) 4-bedroom + 4-bathroom units. The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk master lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently master leased to a reputable Property Management company until July 31, 2025, and currently making $392,160 per year with annual 3% rent increases. With the Master lease in place, there are minimal landlord responsibilities. The owner only pays for taxes and insurance, and everything else is taken care of by the Management company.

Listed by Davis Saadian | BRE #01921748 | Keller Williams Beverly Hills
Co-listed by Adam Shamooelian | BRE #02116849 | Keller Williams Beverly Hills
Last checked: 3 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 46

Home details

Lot Sq. Ft
9,679
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21771994
City
Los Angeles
County
Los Angeles
Time on Site
1011 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Furnished
  • Actual Rent: $3,500
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $4,050
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Furnished
  • Actual Rent: $3,500
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $4,050
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Furnished
  • Actual Rent: $3,500
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $4,050
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Furnished
  • Actual Rent: $3,500
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $4,050
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Furnishing: Furnished
  • Actual Rent: $4,668
  • Total Rent: $4,668
  • Pro Forma/Market Rent: $5,400
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Furnishing: Furnished
  • Actual Rent: $4,668
  • Total Rent: $4,668
  • Pro Forma/Market Rent: $5,400
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Furnishing: Furnished
  • Actual Rent: $4,668
  • Total Rent: $4,668
  • Pro Forma/Market Rent: $5,400
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Furnishing: Furnished
  • Actual Rent: $4,668
  • Total Rent: $6,448
  • Pro Forma/Market Rent: $5,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.2
  • Gross Scheduled Income: --
  • Net Operating Income: $306,080
  • Gross Operating Income: $392,160
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 3000 S Normandie Ave

Interior Features
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Microwave, Refrigerator, Trash Compactor
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 8
  • Parcel Number: 5040001014
Location / Neighborhood
Location Information
  • Directions: 3000 S. Normandie Avenue, LA 90007 | 1580 W. 30th Street, LA 90007
View more facts & features

Local Los Angeles Agent

Sale History for 3000 S Normandie Ave

Last sold for $6,000,000 on December 15th, 2021

  • August, 2021

  • Aug 12, 2021

    Date

    Active

    CRMLS: 21771994

    $6,100,000

    Price

  • July, 2021

  • Jul 31, 2021

    Date

    Canceled

    CRMLS: 21746004

    $6,375,000

    Price

  • Jun 7, 2021

    Date

    Active

    CRMLS: 21746004

    $6,375,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer the opportunity to acquire this turnkey eight (8) unit, twenty-eight (28) bedroom + twenty-eight (28) bathroom student housing master lease investment opportunity, located blocks to the University of Southern California (USC).The subject property was completely updated and remodeled in 2019, and features brand new hardwood floors, updated copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, wall-mounted flat screen televisions, and new in-unit washer & dryers. The property is approximately 8,400 rentable square feet on a 9,679 square foot lot and is comprised of two (2) separate structures, with a unit mix consisting of four (4) 3-bedroom + 3-bathroom units, and four (4) 4-bedroom + 4-bathroom units. The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk master lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently master leased to Tripalink Property Management until July 31, 2025, and currently making $392,160 per year with annual 3% rent increases.

  • April, 2018

  • Apr 23, 2018

    Date

    Sold

    CRMLS: 17291190

    $1,875,000

    Price

  • Apr 9, 2018

    Date

    Pending

    CRMLS: 17291190

    $1,995,000

    Price

  • Nov 21, 2017

    Date

    Active

    CRMLS: 17291190

    $1,995,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the opportunity to acquire, two (4) four unit apartment buildings totaling approximately 8,400 sq. ft. siting on a huge corner lot, approximately 9,679 sq. ft. zoned LAR3 . Total of eight (8) unit multifamily investment located in highly south area, few blocks from University of Southern California (USC) campus. The subject property is located at 3000 S. Normandie Ave., Los Angeles, CA 90007, (Corner of Normandie Ave. & 30th Street) in an extremely high demand location for rental apartment units and potential for student housing. Excellent Unit Mix 3 (2+1+Den) & 5 (2+1). The property is separately metered for gas and electricity. Provides a true value-add opportunity for an investor to acquire an asset with tremendous upside through renovations and/or to redevelop and build a brand new building.*** For a full Marketing Offering Memorandum, please contact the Listing Agent ***

  • April, 2018

  • Apr 20, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,875,000

    Price

  • May, 2016

  • May 20, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,260,000

    Price

Show More

Tax History for 3000 S Normandie Ave

Assessed Value (2020): $2,050,750
Year Land Value Improved Value Assessed Value
2020 $1,144,440 $906,310 $2,050,750

Home Value Compared to the Market

This property vs the competition

3000 S Normandie Ave sold on December 15, 2021 for 412.61% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $726.19 per/sqft which puts the price per square foot 3.82% lower than the current median sale per square foot for the city of Los Angeles.

About 3000 S Normandie Ave

Detailed summary of property

3000 S Normandie Ave is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 28 bedrooms, 28 bathrooms, roughly 8,400 living square feet, and sits on an approximately 9,679 square foot lot. 3000 S Normandie Ave was first listed on ArdentRealEstateGroup.com on August 12, 2021. The homeowner sold the property for $6,000,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 412.61% higher than the current median priced home. Local homes that are currently for sale include 5314 Loma Linda Ave, 5322 Loma Linda Ave and 1747 N Kingsley Dr. While the average home in Los Angeles, CA is selling in 92 days, 3000 S Normandie Ave has a days on market of 46 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 3000 S Normandie Ave Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3000 S Normandie Ave

Public county record property details
Beds
16
Baths
8
Year built
1924
Sq. Ft.
8,400
Lot Size
9,678
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
5040-001-014

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,198,999
Median List Price/Sq.Ft.
$616
Median Sold Price
$710,000
Median Sold Price/Sq.Ft.
$645
Total Inventory
13
Median Sale to List Price %
94.79%
Avg Days on Market
63
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Recently Sold Homes Near 3000 S Normandie Ave

3020 S Normandie Ave, Los Angeles, CA 90007
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3105 S Normandie Ave, Los Angeles, CA 90007
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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.

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