837 S Normandie Ave

837 S. Normandie Ave, Los Angeles CA 90005

OFFERING PRICE: $3,395,000

MVP Commercial Investment Real Estate is pleased to present the Normandie Apartments located at 837 S Normandie Ave. The subject property is a sixteen (16) unit multifamily investment opportunity located in Koreatown, a high rental demand sub-market in the city of Los Angeles. This two-story, wood frame stucco building was constructed in 1925 and consists of 10,252 SF of living area. The property features sixteen (16) spacious one bedroom/one bath units and is situated on a 7,445 SF lot zoned R4-2.

The owners of 837 S Normandie Ave have been meticulous over their renovations to the interior and exterior of the property. Over half of the units have been extensively remodeled with new high gloss laminate flooring, quartz countertops, glass backsplash, new stainless steel appliances, new paint, recessed lighting, new fixtures, energy efficient LED lighting, and modern cabinets in the kitchens and bathrooms. The property’s common areas were modernized with new tile flooring, new paint, recessed LED lighting, and new paint and fixtures. The property exterior was also updated with a new roof, new paint, and attractive landscaping. The new landscaping is designed with a new drought-tolerant design allowing the owner to cut utility expenses and receive tax deductions. Further, the property is separately metered for electricity and master metered for gas and features on-site laundry that is currently leased by the owner.

837 S Normandie Avenue presents the opportunity for a new investor to purchase a strong cash flow property with remaining upside in rental income in the very strong rental pocket of Koreatown. Since the majority of the exterior and interior renovations have been completed, a new investor will be able to capture higher market rents while saving on additional renovation costs.