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Prime Koreatown | 6.35% Cap & 8.9 GRM 745 S Normandie Ave

48 Unit Block of Flats £5,786,802 (£120,558/Unit) 6.35% Net Initial Yield Los Angeles, CA 90005

Investment Highlights

  • Stunning Art Deco Architecture
  • Substantial Remaining Rental Upside
  • 6.35% Cap Rate & 8.9 GRM on Current Income
  • Prime Koreatown Location & $196 Per Sq. Ft.

Executive Summary

745 S Normandie Ave is a 48-unit apartment community located in Koreatown. Currently being offered at an impressive 6.35% Cap Rate and 8.97 GRM on existing income with substantial rental upside! Built in 1930, the Normandie Ave apartments is a mid-rise style building with stunning art deco architecture offering an incredible unit mix of (1) Efficiency/One-Bathroom unit, (30) Studio/One-Bathroom units and (17) One-Bedroom/One-Bathroom units.

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £5,786,802
Price Per Unit £120,558
Sale Type Investment
Net Initial Yield 6.35%
Gross Rent Multiplier 8.97
No. Units 48
Property Type Residential
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 1.09 AC
Building Size 37,440 SF
Number of Floors 6
Year Built 1930
Opportunity Zone Yes

Unit Amenities

  • Heating
  • Kitchen
  • Wooden Floors
  • Oven
  • Range

Site Amenities

  • Laundry Facilities
  • Property Manager on Site

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 31 £999.90 400 - 500
1+1 17 £1,133 800
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (80)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5094-004-003
Land Assessment
£5,013,302
Improvements Assessment
£2,148,871
Total Assessment
£7,162,173
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024

zoning

Zoning Code R5
R5
  • Listing ID: 32288610

  • Date on Market: 28/06/2024

  • Last Updated:

  • Address: 745 S Normandie Ave, Los Angeles, CA 90005

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