1405 North Normandie Avenue

Los Angeles, CA 90027

$3,250,000
Price
15
Beds
23
Baths
10,001 Sq. Ft.
$325 / Sq. Ft.
10,001
Sq. Ft.
$325
per Sq. Ft.

Description

We are very pleased to exclusively offer for sale The Villas at Normandie, a 1989 construction townhouse-style property situated on a 7,315 square foot corner lot just steps from World Famous Sunset Boulevard and its many popular shops, concert venues and restaurants. The Villas at Normandie is also located very close to historic and prestigious Los Feliz and all the trendy retail and dining destinations it has to offer, including Homestate, Vista Theatre, Mirate, Fred 62, Saffy's, House of Pies...We are very pleased to exclusively offer for sale The Villas at Normandie, a 1989 construction townhouse-style property situated on a 7,315 square foot corner lot just steps from World Famous Sunset Boulevard and its many popular shops, concert venues and restaurants. The Villas at Normandie is also located very close to historic and prestigious Los Feliz and all the trendy retail and dining destinations it has to offer, including Homestate, Vista Theatre, Mirate, Fred 62, Saffy's, House of Pies and so much more. Built in 1989 and only subject to AB1482, which allows for 5% + CPI of 3.8%, total 8.8% max annual increases, The Villas at Normandie is comprised of seven large and bright 2 bedroom, 2.5 bath two-story townhouse units, each totaling 1,280 square feet, all complete with gas fireplaces and many with balconies, 4 of which will be delivered vacant at the close and ready to be re-imagined and leased at market by a new owner. Seller has approved plans in hand to convert the current 8th non-conforming studio unit to a legal studio ADU unit, plus additional approved plans to also add a 1-bedroom ADU unit, bringing the total number of units to 9. The property features 16 gated parking spaces, which will be reduced to 14 garage spaces once the 9th unit is added. The 2-story townhouse units are very bright and spacious, feature central air and heat, are separately metered for gas and electric, many with balconies and all have in-unit individual water heaters with plenty of available space in water heater closet to swap for a tankless water heater and add a stackable washer/dryer in each unit. Many of the townhouse units feature excellent straight-on views of both the Griffith Park Observatory and Hollywood sign, making them very desirable to future tenants looking for remodeled units with classic Hollywood views. Now that market rents for these type of 2+2.5 townhouses in the surrounding area are achieving well over $3 per foot for similarly remodeled units, a new owner should easily be able to get $3,750 or more per townhouse unit once renovated. The Villas at Normandie presents a new owner the rare opportunity to purchase 1989 construction property in a prime Hollywood location, especially a 1989 building comprised of 2-story 2+2.5 TH units, more than half of which are vacant. Once stabilized, the future 9-unit building will be worth well over $4.4 million and offer its owner very strong cash flow stream with significant income upside through the 8.8% rent increases into the future.
  1. Listed by Dana Brody • DRE #01429001 • Brokerage DRE #01429001 • Dana Brody

Property Details for 1405 North Normandie Avenue

Water Front
None
Zoning
LARD1.5
Style
Modern
Parcel Number
5544037032
Total Units
9.0
Living Area
10001
Source Living Area
Owner
Area
Hollywood (C20)

Location

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001
Add your commute
LISTING UPDATED: 05/16/2024 04:16 PM

Property Details for 1405 North Normandie Avenue

StatusActive
MLS #24-389213
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
Lot Size0.17 AC / 7,315 SF
CountyLos Angeles County

Location

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001
Add your commute

Building Information for 1405 North Normandie Avenue

Stories2Residences-Year Built1989Building Size-Lot Size0.17 AC / 7,315 SF

Payment Calculator

$18,784 per month

30 year fixed, 7.25% Interest

Principal and Interest

$17,737

Property Taxes

$1,047

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1405 North Normandie Avenue

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Other
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: Yes
  • View Description: City, City Lights
  • View: City Lights
  • Security Features: Gated
  • Direction Faces: East
  • Property Condition: Repair Cosmetic
  • Water Heaters: Yes
  • Water Heater Features: Water Heater Unit
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $347,130
  • Net Operating Income: $261,490.00
  • Gross Income: $365,400
  • Gross Rent Multiplier: $11.00
  • Actual Annual Gross Rent: $365,400.00
  • Vacancy Allow Dollar: $18,270.00
  • Vacancy Allow Percent: 5.00%
  • Owner Pays: Gardener
  • Total Annual Expense: 85640
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.1679
  • Lot Size Square Feet: 7315
Parking Details
Parking Details
  • Parking Garage: Community Garage, Controlled Entrance, Gated, Private Garage
  • Total Parking: 16
  • Parking Features: Community Structure, Controlled Entrance, Gated, Private
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: Gas
  • Fireplace Rooms: Gas
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Flooring: Carpet
  • Equipment: Ceiling Fan, Refrigerator, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Bedroom Features: All Bedrooms Up
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Door Features: Sliding Doors
  • New Construction: No
  • Other Structural Features: Balcony, Sliding Glass Doors
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-08-2024
  • Listing Terms: Cash, Cash To New Loan
  • Tenant Pays: Gas, Electricity, Cable TV
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,750.00
  • Unit Actual Rent: $26,250.00
  • Unit Projected Rent: $26,250.00
  • Like Units: 7
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $2,200.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $847,389.00
  • Assessed Improvement Percent: 92.25
  • Assessed Land Value: $71,188.00
  • Assessed Land Percent: 7.75
  • Assessed Total Value: $918,577.00

Property History for 1405 North Normandie Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1405 North Normandie Avenue

Taxable ValueLand$71,188Additions$850,289Total$921,477
Tax Record2023$12,559 ($1,047 / month)
Home Facts
Total Finished SqFt8,960 SqFtAbove Grade Finished SqFt8,960 SqFtLot Size7,313 SqFtStyleMulti-Family Res (5+ Units)Year Built1989ZoningLARD1.5CountyLOS ANGELESAPN5544-037-032

Schools near 1405 North Normandie Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Ramona Elementary School
PublicK to 6

Joseph Le Conte Middle School
Public6 to 8

Helen Bernstein High School
Public9 to 12

STEM Academy at Bernstein High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1405 North Normandie Avenue is a multi-family home for sale in Los Angeles, CA 90027. This property was listed for sale on May 7, 2024 by Dana Brody, it's currently listed at $3,250,000. It has been on the market for a total of 14 days and was last sold on October 6, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Ramona Elementary School, Joseph Le Conte Middle School and Helen Bernstein High School. 1405 North Normandie Avenue is a 15-bed, 23-bath, 10,001 sqft multi-family home built in 1989.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.