837 S Normandie Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90005
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,252 sqft
Price per Sqft $312
MLS Listing ID 25555929
Bedrooms 16
Year Built 1925
Lot Size 7,448 Sqft
Property Sub-Type Multi-Family
Property Description
Located two blocks south of Wilshire Blvd, 837 S. Normandie offers a chance to acquire a 16-unit asset in the heart of Koreatown with exceptional cash flow metrics; 9.06 GRM and a 6.50% CAP rate on current income. The building features (16) 1-bdrm. units averaging 600 SF. 12 of the units have undergone modern renovations featuring wood-laminate floors, quartz countertops, stainless steel appliances, updated tilework and cabinetry, recessed lighting, and ceiling fans. The units are separately metered for electricity and master-metered for gas. This allows for an annual rent increase of 4% (buyer to verify). Most units are home to single tenants, and 10 are leased through Section 8; offering reliable, government-backed income. Additionally, there is a RUBS program that generates added income. Notable building improvements include mainly copper plumbing and $15K in waterproofing. The building's highly walkable location is just minutes from three of Koreatown's major neighborhood hubs (Wilshire Blvd, Western Ave, 6th St, and 8th St), lined with some of LA's most popular Korean BBQ joints, dessert cafes, bars, karaoke lounges, retail centers, and cultural institutions. The upcoming Purple Line expansion, which includes light-rail stations along Wilshire and is expected to go live later this year; will further increase accessibility, compress commute times to Downtown and the Westside, and boost rental demand. 837 S. Normandie offers dependable in-place cash flow, and long-term appreciation potential in a constantly developing neighborhood. For the investor seeking yield in a blue-chip urban environment, this is a clear opportunity.
Location
State CA
County Los Angeles
Area Mid-Wilshire
Zoning LAR4
Rooms
Other Rooms None
Interior
Heating Other
Cooling Ceiling Fan
Flooring Wood Laminate, Tile
Fireplaces Type None
Equipment Built-Ins, Ceiling Fan, Dishwasher, Freezer, Refrigerator, Range/Oven, Garbage Disposal, Microwave
Laundry Community, Room
Exterior
Parking Features None
Waterfront Description None
View Y/N No
View None
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard