3415 S Normandie Avenue
Los Angeles, CA 90007
Active for $2,300,000
Beds: 13 Baths: 13 Structure Size: 7,227 sqft Lot Size: 11,421 sqft
MLS | 24463391 |
Year Built | 1924 |
Property Type | |
County | Los Angeles |
Status | Active |
Active | $2,300,000 |
Structure Size | 7,227 sqft |
Lot Size | 11,421 sqft |
Beds | 13 |
Baths | 13 |
Description
We are pleased to present a mixed-use investment opportunity located at 3415 Normandie Ave in the Exposition Park neighborhood of Los Angeles, located on the corner of Normandie Ave & W 35th St and a half mile from the University of Southern California. The property features four structures on two parcels totaling 15 apartment units and three retail spaces; the unit mix consists of seven singles, four one-bedrooms, four two bedrooms, and three retail spaces; six units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with a projected 6.98% CAP rate at the asking price once current vacancies are rented; additional 25% rental upside achievable as additional units turn. Separately metered for gas & electric; there is a community laundry room on-site for additional income. Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Mid-City; walking distance to multiple Metro local lines on W Jefferson Blvd & Normandie Ave and less than a mile from the Metro Expo Rail Station.
Listing information courtesy of: Neema Ahadian, Marcus & Millichap 310-909-5444. *Based on information from the Association of REALTORS/Multiple Listing as of 01/07/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.