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Multifamily

4115 Normal Ave

4115 Normal Ave, Los Angeles, CA 90029

Listing Price: $3,700,000

Cap Rate
5.11%
Number of Units
11
Price/Unit
$336,364
Price/Gross SF
$265.12
Gross SF
13,956

Investment Overview

Marcus and Millichap is pleased to present 4115 Normal Ave Los Angeles, CA, an 11+1 non-conforming unit apartment building located in Los Angeles, CA. Built in 1988, the property is situated just north of the 101 Freeway, east of Vermont and South of Santa Monica Blvd. and just West of Virgil Ave. Totaling approximately 13,956 Sq Ft, the building consists of eight (8) two bedroom/one bath (2+1) units and three (3) two bedroom/two bath units. The property features gated entry, secured parking and a laundry facility. The property benefits from its close proximity to Hollywood, Silverlake, Echo Park and Downtown Los Angeles. Within walking distance or a short drive, tenants have numerous employment opportunities, entertainment venues, restaurants, cafes, retail shopping, schools, and public transportation (Approx. 1/2 mile from Vermont/Santa Monica Metro Station). New ownership has an opportunity to increase rents by virtue of implementing a renovation plan to the unit interiors. Current rents are conservatively ten percent (10%) below market. This is a great opportunity for an investor who is looking for a value-add property with a favorable unit mix located in an emerging submarket that is not subject to City of Los Angeles Rent Control.

Investment Highlights

  • Excellent Unit Mix of All Two Bedroom Units
  • 1988 Construction – Not Subject to City of Los Angeles Rent Control
  • Value Add Opportunity by Implementing a renovation program upgrading unit interiors – Approximately 10% Rental Upside

Exclusively Listed By

Financing By

Listing Price: $3,700,000

Cap Rate
5.11%
Number of Units
11
Price/Unit
$336,364
Price/Gross SF
$265.12
Gross SF
13,956

Investment Highlights

  • Excellent Unit Mix of All Two Bedroom Units
  • 1988 Construction – Not Subject to City of Los Angeles Rent Control
  • Value Add Opportunity by Implementing a renovation program upgrading unit interiors – Approximately 10% Rental Upside

Investment Overview

Marcus and Millichap is pleased to present 4115 Normal Ave Los Angeles, CA, an 11+1 non-conforming unit apartment building located in Los Angeles, CA. Built in 1988, the property is situated just north of the 101 Freeway, east of Vermont and South of Santa Monica Blvd. and just West of Virgil Ave. Totaling approximately 13,956 Sq Ft, the building consists of eight (8) two bedroom/one bath (2+1) units and three (3) two bedroom/two bath units. The property features gated entry, secured parking and a laundry facility. The property benefits from its close proximity to Hollywood, Silverlake, Echo Park and Downtown Los Angeles. Within walking distance or a short drive, tenants have numerous employment opportunities, entertainment venues, restaurants, cafes, retail shopping, schools, and public transportation (Approx. 1/2 mile from Vermont/Santa Monica Metro Station). New ownership has an opportunity to increase rents by virtue of implementing a renovation plan to the unit interiors. Current rents are conservatively ten percent (10%) below market. This is a great opportunity for an investor who is looking for a value-add property with a favorable unit mix located in an emerging submarket that is not subject to City of Los Angeles Rent Control.

Exclusively Listed By

Financing By

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