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756 S Normandie Ave, Los Angeles, CA 90005
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756 S Normandie Ave Los Angeles, CA 90005

$6,250,000 Sold Price as of 12/06/2019
  • 7 Beds
  • 30 Baths
  • 16,776 Sq.Ft.
Sold
$6,250,000 Sold Price as of 12/06/2019 Refinance Your Mortgage
Map preview of 756 S Normandie Ave, Los Angeles, CA 90005

Property Overview: 756 S Normandie Ave Los Angeles, CA has 7 bedrooms, 30 bathrooms, 16,776 living square feet and 7,544 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Bard Apartments is a 30-unit 1920's construction apartment building located in Koreatown. The Bard Apartments has a unit mix consisting of 23-studio apartments as well as 7-units that are one-bedrooms. The three-story reinforced brick structure is serviced by two-staircases and no elevator. Units are separately metered for electricity and select units are equipped with 9-foot ceilings, exposed brick walls, stainless-steel appliances, quartz countertops, and more. Community amenities available include controlled-access, on-site laundry facilities, a gated pet park and pet waste station. Value-Added Opportunity - While several units and common areas have been renovated and upgraded there remains a massive loss to lease of 30% as 9 units have not yet been renovated and have drastically below market lease rates. There is approximately a 25% upside in lease rates between current and market rents that a new owner can achieve upon unit turnover and renovation

Listed by Brent Sprenkle | BRE #01290116 | Berkadia
Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 45

Home details

Lot Sq. Ft
7,544
HOA Dues
$0/mo
Year built
1925
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19504092
City
Los Angeles
County
Los Angeles
Time on Site
1192 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 30
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 7
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,460
  • Total Rent: $10,219
  • Pro Forma/Market Rent: $12,250
Unit Breakdown 2
  • # of Units: 23
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,226
  • Total Rent: $28,208
  • Pro Forma/Market Rent: $34,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.34%
  • Gross Rent Multiplier: 13.46
  • Gross Scheduled Income: --
  • Net Operating Income: $284,108
  • Gross Operating Income: $472,704
  • Improvements Total: $1,940,000
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 756 S Normandie Ave

Interior Features
Kitchen Information
  • Has Appliances
  • Refrigerator, Dishwasher
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Sprinklers None
Property Information
  • Total # of Units: 30
  • Parcel Number: 5094005013
Homeowners Association, Utilities, Taxes / Assessments
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: Situated on Normandie Avenue between 7th Street & West 8th Street.
View more facts & features

Local Los Angeles Agent

Sale History for 756 S Normandie Ave

Last sold for $6,250,000 on December 6th, 2019

  • December, 2019

  • Dec 7, 2019

    Date

    Sold

    CRMLS: 19504092

    $6,250,000

    Price

  • Oct 10, 2019

    Date

    Pending

    CRMLS: 19504092

    $6,550,000

    Price

  • Aug 27, 2019

    Date

    Active

    CRMLS: 19504092

    $6,550,000

    Price

  • December, 2019

  • Dec 6, 2019

    Date

    Sold (Public Records)

    Public Records

    $6,250,000

    Price

  • November, 2016

  • Nov 1, 2016

    Date

    Sold (Public Records)

    Public Records

    $4,850,000

    Price

Show More

Tax History for 756 S Normandie Ave

Assessed Value (2020): $6,260,862
Year Land Value Improved Value Assessed Value
2020 $4,750,000 $1,510,862 $6,260,862

Home Value Compared to the Market

This property vs the competition

756 S Normandie Ave sold on December 6, 2019 for 523.81% higher than the current median sold price for the city of Los Angeles which is $1,050,000. The median sold price per/sqft for Los Angeles is $738 and this home is sold at $390.44 per/sqft which puts the price per square foot 47.1% lower than the current median sale per square foot for the city of Los Angeles.

About 756 S Normandie Ave

Detailed summary of property

756 S Normandie Ave is a multi family that recently sold in Los Angeles, CA 90005. This multi family property offered 7 bedrooms, 30 bathrooms, roughly 16,776 living square feet, and sits on an approximately 7,544 square foot lot. 756 S Normandie Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $6,250,000. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 523.81% higher than the current median priced home. Local homes that are currently for sale include 654 E 24th St, 526 W 47th St and 1908 Hillcrest Rd. While the average home in Los Angeles, CA is selling in 97 days, 756 S Normandie Ave has a days on market of 45 days. There are currently 3357 homes for sale in the Los Angeles real estate market and 2273 of them are single family homes while 993 of them are condos and 86 are townhomes. For more information on this home for sale at 756 S Normandie Ave Los Angeles, CA 90005 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 756 S Normandie Ave

Public county record property details
Beds
7
Baths
--
Year built
1925
Sq. Ft.
16,776
Lot Size
7,543
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
24
APN
5094-005-013

The source for these homes facts are from public records.

90005 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$849,000
Median List Price/Sq.Ft.
$637
Median Sold Price
$830,000
Median Sold Price/Sq.Ft.
$555
Total Inventory
30
Median Sale to List Price %
94.86%
Avg Days on Market
10
Loan Type
Conventional (25%), FHA (0%), VA (0%), Cash (0%), Other (25%)

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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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