Property listed by Keller Williams Realty Calabasas, Alex Galuz 818-657-6500
$1,450,000
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… Read More 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 has 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 . The subject property sits in one of LAs 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. Read Less
Listing Snapshot
Days Online
51
Last Updated
Property Type
Other
Beds
12
Square Ft.
3,648
Lot Size
0.19 Acres
Year Built
1960
MLS Number
25571227
30 Days Snapshot Of 90044
$693k
0%
(avg) sold price
18
+80%
homes sold
103
+33%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Disposal
Building
Built in 1960, Building area total: 3,648, Levels: Two, Living area: 3648, 2 stories, 1 building
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross income: $133,512, Net operating income: $95,250
Lot
0.1862 acres, 8,113 square feet, Size: 8,113
Parking
6 totals parking, Carport
Property
Zoning: LCR3YY
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
