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

$1,690,000
  • 30 Beds
  • 10 Baths
  • 5,660 Sq.Ft.
For Sale
$1,690,000 Get Pre-Qualified
Map preview of 848 S Normandie Ave, Los Angeles, CA 90005

Property Overview: 848 S Normandie Ave Los Angeles, CA has 30 bedrooms, 10 bathrooms, 5,660 living square feet and 6,751 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: Well maintained 4-plex boasting spacious 3+1 residences and ample R4 zoning in a prime K-town location. This property offers generous living spaces and four parking spots at the rear. All units are currently leased. Promising potential for rental escalation and future development. Kindly respect tenant privacy; please refrain from disturbing occupants. Buyer is advised to independently verify the accuracy of all information through personal inspection and w/appropriate professionals to ensure satisfaction, and to rely solely on verified information.

Listed by Colby Jo | BRE #01299519 | Omni Realty & Investment Group
Last checked: 12 minutes ago | Last updated: April 9th, 2024 | Source CRMLS | DOM: 79
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Home details

Lot Sq. Ft
6,751
HOA Dues
$0/mo
Year built
1917
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24375045
City
Los Angeles
County
Los Angeles
Time on Site
90 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,683
  • Total Rent: $1,683
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,993
  • Total Rent: $1,993
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 4
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,879
  • Total Rent: $1,879
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,600
  • Total Rent: $2,600
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 17.26
  • Gross Scheduled Income: --
  • Net Operating Income: $67,390
  • Gross Operating Income: $97,868
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 848 S Normandie Ave

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Property Details for 848 S Normandie Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 5094018002
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: N. of Olympic Blvd and S. of 8th St.on Normandie Ave
View more facts & features

Local Los Angeles Agent

Sale History for 848 S Normandie Ave

Last sold for $1,510,000 on December 8th, 2020

  • April, 2024

  • Apr 1, 2024

    Date

    Active

    CRMLS: 24375045

    $1,690,000

    Price

  • December, 2020

  • Dec 11, 2020

    Date

    Sold

    CRMLS: 20586674

    $1,510,000

    Price

  • Dec 11, 2020

    Date

    Pending

    CRMLS: 20586674

    $1,600,000

    Price

  • Sep 24, 2020

    Date

    Price Change

    CRMLS: 20586674

    $1,600,000

    Price

  • Jun 4, 2020

    Date

    Active

    CRMLS: 20586674

    $1,800,000

    Price

  • Listing provided courtesy of CRMLS

    Presented for sale is a 4 Unit Apartment Building with tremendous redevelopment upside! This building features huge 3+1 homes with 4+ parking spaces in the rear. There is currently one vacant unit and a potential to deliver the three other units with cash-for-keys agreements. With a low offer price of $283 a square foot, getting to Market Rents can push this deal to a mid 7 CAP or build 29 units on site. Come be at the center of it all, surrounded by casual and fine dining, two blocks to Seoul International Park, less than half a mile / four blocks to the Metro Red Line Subway Station, music, bars, shopping...hard to ask for more!

  • December, 2020

  • Dec 8, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,510,000

    Price

  • December, 2019

  • Dec 24, 2019

    Date

    Expired

    CRMLS: 19517666

    $1,700,000

    Price

  • Oct 4, 2019

    Date

    Active

    CRMLS: 19517666

    $1,700,000

    Price

  • Listing provided courtesy of CRMLS

    Presented for sale is a 4 Unit Apartment Building with tremendous redevelopment upside! Offered with a potential for vacancies, this building features huge 3+1 units with 4+ parking spaces in the rear. With a low offer price of $300 a square foot, getting to Market Rents can push this deal to a high 6 CAP. Come be at the center of it all, surrounded by casual and fine dining, two blocks to Seoul International Park, less than half a mile / four blocks to the Metro Red Line Subway Station, music, bars, shopping...hard to ask for more! Market GRM 10.90 and Market CAP 6.93%

  • September, 2019

  • Sep 16, 2019

    Date

    Canceled

    CRMLS: AR19148412

    $2,000,000

    Price

  • Sep 9, 2019

    Date

    Withdrawn

    CRMLS: AR19148412

    $2,000,000

    Price

  • Jun 23, 2019

    Date

    Active

    CRMLS: AR19148412

    $2,000,000

    Price

  • Listing provided courtesy of CRMLS

    Developer dream. The property is R4-2 zoned 4plex in the heart of Korea Town. It can be developed to a 29 units multi-family under TOC bonus. Currently all 4 units are occupied, bringing in $7,000+ a month of income while developer pursues the entitlement. At under $70,000 a door land cost in this great location, this is a great deal. The two lots adjoining to it are currently listed by another broker. Developer may consider acquiring all 3 adjoining lots to maximize the potential of 6x FAR

  • June, 2019

  • Jun 17, 2019

    Date

    Sold

    CRMLS: 19422760

    $1,460,000

    Price

  • Feb 11, 2019

    Date

    Active Under Contract

    CRMLS: 19422760

    $1,555,000

    Price

  • Jan 12, 2019

    Date

    Active

    CRMLS: 19422760

    $1,555,000

    Price

  • Listing provided courtesy of CRMLS

    Huge R4 ZONING 4plex in Korea town. All units are occupied. Great upside potential for rent increase and future development. All unit pictures are shown in the MLS. Please do not disturb tenants.

  • April, 2019

  • Apr 30, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,460,000

    Price

  • January, 2019

  • Jan 22, 2019

    Date

    Expired

    CRMLS: 18399408

    $1,595,000

    Price

  • Dec 24, 2018

    Date

    Withdrawn

    CRMLS: 18399408

    $1,595,000

    Price

  • Dec 12, 2018

    Date

    Active Under Contract

    CRMLS: 18399408

    $1,595,000

    Price

  • Nov 12, 2018

    Date

    Price Change

    CRMLS: 18399408

    $1,595,000

    Price

  • Oct 30, 2018

    Date

    Price Change

    CRMLS: 18399408

    $1,615,000

    Price

  • Oct 22, 2018

    Date

    Active

    CRMLS: 18399408

    $1,645,000

    Price

  • Listing provided courtesy of CRMLS

    Extra big size building with R4 zoning in Koreatown. Potential for rent increase and future development.Please drive by only. Do not disturb tenants.

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Tax History for 848 S Normandie Ave

Assessed Value (2020): $1,489,200
Year Land Value Improved Value Assessed Value
2020 $1,042,440 $446,760 $1,489,200

Home Value Compared to the Market

This property vs the competition

848 S Normandie Ave is listed 36.73% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $775 and this home is listed at $298.59 per/sqft which puts the price per square foot 61.47% lower than the median price per square foot for the city of Los Angeles.

About 848 S Normandie Ave

Detailed summary of property

848 S Normandie Ave is a multi family located in Los Angeles, CA 90005 and is currently for sale. This multi family property offers 30 bedrooms, 10 bathrooms, roughly 5,660 living square feet, and sits on an approximately 6,751 square foot lot. 848 S Normandie Ave was first listed on ArdentRealEstateGroup.com on April 1, 2024. The homeowner is currently asking $1,690,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $775. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 36.73% higher than the median priced home. Local competing homes currently for sale include 1057 S Hobart Blvd, 1116 S Berendo St and 1117 S Serrano Ave. While the average home in Los Angeles, CA is selling in 99 days, 848 S Normandie Ave has a days on market of 79 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 848 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 848 S Normandie Ave

Public county record property details
Beds
8
Baths
4
Year built
1917
Sq. Ft.
5,660
Lot Size
6,749
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
5094-018-002

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
$835,000
Median List Price/Sq.Ft.
$641
Median Sold Price
$699,000
Median Sold Price/Sq.Ft.
$692
Total Inventory
38
Median Sale to List Price %
82.33%
Avg Days on Market
28
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (20%), Other (40%)

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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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