Prime Koreatown | 6.35% Cap & 8.9 GRM | 745 S Normandie Ave
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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 | Apartment Style | Mid Rise |
Price Per Unit | £120,558 | Building Class | C |
Sale Type | Investment | Lot Size | 1.09 AC |
Net Initial Yield | 6.35% | Building Size | 37,440 SF |
Gross Rent Multiplier | 8.97 | Number of Floors | 6 |
No. Units | 48 | Year Built | 1930 |
Property Type | Residential | Opportunity Zone |
Yes
|
Property Subtype | Apartment |
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 |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (80)
PROPERTY TAXES
Parcel Number | 5094-004-003 | Total Assessment | £7,162,173 |
Land Assessment | £5,013,302 | Annual Taxes | -£1 (£0.00/sf) |
Improvements Assessment | £2,148,871 | Tax Year | 2024 |
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 |
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Prime Koreatown | 6.35% Cap & 8.9 GRM | 745 S Normandie Ave
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