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Multifamily

11700 S Normandie

11700 Normandie Ave, Los Angeles, CA 90044

Listing Price: $1,499,000

Cap Rate
4.94%
Number of Units
6
Price/Unit
$249,833
Price/Gross SF
$410.91
Gross SF
3,648

Investment Overview

Marcus & Millichap is proud to present this 6-unit multifamily investment property located at 11700 South Normandie Avenue in the 90044 zip code of Los Angeles. The 3,648 square foot subject property sits on a 8,112 square foot lot and with close proximity to the 105 Freeway as well as multiple educational institutions such as Los Angeles Southwest College, Saint Frances X Cabrini Catholic School, and West Athens Elementary, making it a perfect living place for tenants with children, or those continuing their higher education. The subject property comes complete with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units and is currently 100% occupied. Five of the six units are being occupied by Section 8 tenants, providing a new investor stable and secure income – something that hasn’t been easy to come by in this post-pandemic market. To sweeten the deal even further, the subject property sits in one of LA’s Qualified Opportunity Zones, which enables the new investor the opportunity to forego all capital gains taxes on the exit after ample renovation and a 10-year hold. Another way a savvy investor could add significant value would be to utilize the new ADU program that was rolled out state-wide at the beginning of 2020. The program would allow the addition of two, 2 Bedroom / 2 Bathroom units which would generate roughly $50,000 of extra rental income every year and add around $600,000 of property value. This new program is being utilized all over the city as it has offered investors an easy road map to increase income. The ease in which investors are able to get plans for ADU’s permitted and approved has alleviated potential suitors a lot of the stresses that come along with developing and dealing with the city as well. With the proper strategy and execution, the purchase of this asset could prove to be a major money maker!

Investment Highlights

  • Built in 1960
  • Located in Opportunity Zone
  • Huge Opportunity for ADUs
  • Estimated 40% Upside in Rents
  • 5 of 6 Units Section 8
  • All 2 Bedroom Units
  • Proximate to Major Freeways
  • Value Add

Exclusively Listed By

Financing By

Listing Price: $1,499,000

Cap Rate
4.94%
Number of Units
6
Price/Unit
$249,833
Price/Gross SF
$410.91
Gross SF
3,648

Investment Highlights

  • Built in 1960
  • Located in Opportunity Zone
  • Huge Opportunity for ADUs
  • Estimated 40% Upside in Rents
  • 5 of 6 Units Section 8
  • All 2 Bedroom Units
  • Proximate to Major Freeways
  • Value Add

Investment Overview

Marcus & Millichap is proud to present this 6-unit multifamily investment property located at 11700 South Normandie Avenue in the 90044 zip code of Los Angeles. The 3,648 square foot subject property sits on a 8,112 square foot lot and with close proximity to the 105 Freeway as well as multiple educational institutions such as Los Angeles Southwest College, Saint Frances X Cabrini Catholic School, and West Athens Elementary, making it a perfect living place for tenants with children, or those continuing their higher education. The subject property comes complete with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units and is currently 100% occupied. Five of the six units are being occupied by Section 8 tenants, providing a new investor stable and secure income – something that hasn’t been easy to come by in this post-pandemic market. To sweeten the deal even further, the subject property sits in one of LA’s Qualified Opportunity Zones, which enables the new investor the opportunity to forego all capital gains taxes on the exit after ample renovation and a 10-year hold. Another way a savvy investor could add significant value would be to utilize the new ADU program that was rolled out state-wide at the beginning of 2020. The program would allow the addition of two, 2 Bedroom / 2 Bathroom units which would generate roughly $50,000 of extra rental income every year and add around $600,000 of property value. This new program is being utilized all over the city as it has offered investors an easy road map to increase income. The ease in which investors are able to get plans for ADU’s permitted and approved has alleviated potential suitors a lot of the stresses that come along with developing and dealing with the city as well. With the proper strategy and execution, the purchase of this asset could prove to be a major money maker!

Exclusively Listed By

Financing By

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