Fully Leased 2024 East Hollywood Fourplex | 632 Normandie Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Fully Leased 2024 East Hollywood Fourplex 632 Normandie Ave
4 Unit Block of Flats £2,730,751 (£682,688/Unit) 6.20% Net Initial Yield Los Angeles, CA 90004
Investment Highlights
- Fully-leased at an exceptional 6.20% cap rate!
- Generates $290,784 in gross annual income.
- Rented by the room under a housing program for stable, subsidized income.
- Boasts built-in annual rent increases, management already in place, and a multi-year rental contract.
- Prime East Hollywood location walking distance to Melrose and minutes from the heart of Hollywood Four modern 4-bed, 4.5-bath townhome units.
- On-site manager ensures seamless operations, with management easily transferable to the buyer.
Executive Summary
The 2-4 Unit Specialists are excited to present 632 N Normandie Ave, a fully leased fourplex offering an exceptional (and real) 6.20% cap rate and gross annual income of $290,784. Fully occupied by tenants under a fully managed room for rent model (COMPLETELY HANDS OFF FOR BUYERS!), the property benefits from consistent, reliable, and subsidized rental income. With built-in annual rent increases, management already in place, and a multi-year rental contract, this asset is poised to deliver substantial income for years with essentially no work or hassle. Sit back, collect rent, and watch this centrally-located property appreciate in value!
632 N Normandie Ave consists of four spacious, beautifully designed 4-bedroom, 4.5-bathroom tri-level townhome-style units in an outstanding location minutes from the center of Hollywood. The excellent location, combined with the modern construction and upscale finishes make these townhomes ultra-rentable in both the current model, as well as a standard rental model.
These premium townhomes feature thoughtfully designed floorplans with large, tenant-friendly kitchens and living areas, as well as luxury touches, including designer tiles, stainless steel appliances, numerous balconies, modern cabinetry, ample closets, waterproof natural wood vinyl flooring, and abundant natural light throughout. There are 8 parking spots on site, a key feature for new constructions. Additionally, the property offers separate meters for all utilities, ensuring minimal operating expenses, and is backed by a 1-year builder’s warranty for added peace of mind.
With its unparalleled income, modern amenities, and fully leased status, 632 N Normandie Ave is an exceptional investment opportunity that stands out in the East Hollywood market. Don’t miss your chance to secure this rare find—contact us today!
632 N Normandie Ave consists of four spacious, beautifully designed 4-bedroom, 4.5-bathroom tri-level townhome-style units in an outstanding location minutes from the center of Hollywood. The excellent location, combined with the modern construction and upscale finishes make these townhomes ultra-rentable in both the current model, as well as a standard rental model.
These premium townhomes feature thoughtfully designed floorplans with large, tenant-friendly kitchens and living areas, as well as luxury touches, including designer tiles, stainless steel appliances, numerous balconies, modern cabinetry, ample closets, waterproof natural wood vinyl flooring, and abundant natural light throughout. There are 8 parking spots on site, a key feature for new constructions. Additionally, the property offers separate meters for all utilities, ensuring minimal operating expenses, and is backed by a 1-year builder’s warranty for added peace of mind.
With its unparalleled income, modern amenities, and fully leased status, 632 N Normandie Ave is an exceptional investment opportunity that stands out in the East Hollywood market. Don’t miss your chance to secure this rare find—contact us today!
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£227,524
|
£31.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£6,826
|
£0.94
|
| Effective Gross Income |
£220,698
|
£30.34
|
| Taxes |
£32,753
|
£4.50
|
| Operating Expenses |
£18,773
|
£2.58
|
| Total Expenses |
£51,526
|
£7.08
|
| Net Operating Income |
£169,172
|
£23.26
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £227,524 |
| Annual Per SF | £31.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £6,826 |
| Annual Per SF | £0.94 |
| Effective Gross Income | |
|---|---|
| Annual | £220,698 |
| Annual Per SF | £30.34 |
| Taxes | |
|---|---|
| Annual | £32,753 |
| Annual Per SF | £4.50 |
| Operating Expenses | |
|---|---|
| Annual | £18,773 |
| Annual Per SF | £2.58 |
| Total Expenses | |
|---|---|
| Annual | £51,526 |
| Annual Per SF | £7.08 |
| Net Operating Income | |
|---|---|
| Annual | £169,172 |
| Annual Per SF | £23.26 |
Property Facts
| Price | £2,730,751 | Building Class | B |
| Price Per Unit | £682,688 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 7,274 SF |
| Net Initial Yield | 6.20% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.01 | Number of Floors | 3 |
| No. Units | 4 | Year Built | 2024 |
| Property Type | Residential | Parking Ratio | 1.1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £2,730,751 |
| Price Per Unit | £682,688 |
| Sale Type | Investment |
| Net Initial Yield | 6.20% |
| Gross Rent Multiplier | 12.01 |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 7,274 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built | 2024 |
| Parking Ratio | 1.1/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Freezer
- Instant Hot Water
- Island Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 4+4.5 | 10 | £4,740 | 1,756 - 1,881 |
1 of 1
Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 5520-003-045 | Total Assessment | £2,249,052 |
| Land Assessment | £838,944 | Annual Taxes | £32,753 (£4.50/sf) |
| Improvements Assessment | £1,410,108 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5520-003-045
Land Assessment
£838,944
Improvements Assessment
£1,410,108
Total Assessment
£2,249,052
Annual Taxes
£32,753 (£4.50/sf)
Tax Year
2024
zoning
| Zoning Code | LAR3 |
| LAR3 |
1 of 46
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Fully Leased 2024 East Hollywood Fourplex | 632 Normandie Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.