3415 Normandie Avenue

Los Angeles, CA 90018

$2,300,000
Price
13
Beds
13
Baths
7,227 Sq. Ft.
$318 / Sq. Ft.
7,227
Sq. Ft.
$318
per Sq. Ft.

Description

We are pleased to present a mixed-use investment opportunity located at 3415 Normandie Ave in the Exposition Park neighborhood of Los Angeles, located on the corner of Normandie Ave & W 35th St and a half mile from the University of Southern California. The property features four structures on two parcels totaling 15 apartment units and three retail spaces; the unit mix consists of seven singles, four one-bedrooms, four two bedrooms, and three retail spaces; six units will be delivered vacant at...We are pleased to present a mixed-use investment opportunity located at 3415 Normandie Ave in the Exposition Park neighborhood of Los Angeles, located on the corner of Normandie Ave & W 35th St and a half mile from the University of Southern California. The property features four structures on two parcels totaling 15 apartment units and three retail spaces; the unit mix consists of seven singles, four one-bedrooms, four two bedrooms, and three retail spaces; six units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with a projected 6.98% CAP rate at the asking price once current vacancies are rented; additional 25% rental upside achievable as additional units turn. Separately metered for gas & electric; there is a community laundry room on-site for additional income. Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Mid-City; walking distance to multiple Metro local lines on W Jefferson Blvd & Normandie Ave and less than a mile from the Metro Expo Rail Station.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 3415 Normandie Avenue

Zoning
C2-1VL-O-CPIO
Parcel Number
5041001001
Total Units
15.0
Living Area
7227
Source Living Area
Other
Area
Los Angeles Southwest (C34)
Vacancy Rate
6
Lot Size Area
11421
LISTING UPDATED: 11/13/2024 03:36 PM

Property Details for 3415 Normandie Avenue

StatusActive
MLS #24-463391
Days on Market38
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.26 AC / 11,421 SF
CountyLos Angeles County

Building Information for 3415 Normandie Avenue

Stories2Residences-Year Built1924Building Size-Lot Size0.26 AC / 11,421 SF

Property Information for 3415 Normandie Avenue

Community / Development
Community / Development
  • Number Of Units: 15
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 4
  • Type Of Units: Mixed-Use
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $258,630
  • Net Operating Income: $160,521.00
  • Gross Income: $272,242
  • Cap Rate: 6.98%
  • Gross Rent Multiplier: $8.45
  • Actual Annual Gross Rent: $270,912.00
  • Actual Gross Annual Income: $272,242
  • Actual Rent Total: $270,912.00
  • Vacancy Allow Dollar: $13,612.00
  • Vacancy Allow Percent: 5.00%
  • Total Annual Expense: 98109
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2622
  • Lot Size Square Feet: 11421
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-13-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,042.00
  • Unit Actual Rent: $7,296.00
  • Unit Projected Rent: $9,100.00
  • Like Units: 7
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,094.00
  • Unit Actual Rent: $4,375.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 4
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,348.00
  • Unit Actual Rent: $4,695.00
  • Unit Projected Rent: $4,800.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,685.00
  • Unit Actual Rent: $3,369.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 2
Unit 5 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $947.00
  • Unit Actual Rent: $2,841.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $88,626.00
  • Assessed Improvement Percent: 31.58
  • Assessed Land Value: $192,039.00
  • Assessed Land Percent: 68.42
  • Assessed Total Value: $280,665.00

Property History for 3415 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 3415 Normandie Avenue

Taxable ValueLand$195,879Additions$91,818Total$287,697
Tax Record2024$4,277 ($356 / month)
Home Facts
Total Finished SqFt3,273 SqFtAbove Grade Finished SqFt3,273 SqFtStories1Lot Size4,621 SqFtStyleOffice BuildingYear Built1924ZoningLAC2CountyLOS ANGELESAPN5041-001-001

Schools near 3415 Normandie Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
John W. Mack Elementary School
PublicK to 5

Foshay Learning Center
PublicK to 12

Manual Arts Senior High School
Public9 to 12

Stem Preparatory Academy
CharterK to 5

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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3415 Normandie Avenue is a multi-family home for sale in Los Angeles, CA 90018. This property was listed for sale on October 21, 2024 by Marcus & Millichap, it's currently listed at $2,300,000. This listing's school district is Los Angeles Unified School District. Nearby schools include John W. Mack Elementary School, Foshay Learning Center and Manual Arts Senior High School. 3415 Normandie Avenue is a 13-bed, 13-bath, 7,227 sqft multi-family home built in 1924.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

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.