Property listed by JNM Realty, INC., Demis Dokhanian 310-746-5923
$2,050,000
JNM Realty exclusively presents 254 S. Normandie Avenue, a well-maintained 12-unit apartment community featuring an attractive unit mix of five (5) studio units and seven (7) one-bedroom, one-bathroom units. There are fifteen (15) onsite parking spaces including three (3) attached garages, eight (8) tandem spaces, and four (4) detached covered… Read More spaces. Soft-story retrofit was completed in 2024. The property offers approximately 33% upside to current rents and more than 115% upside potential among the non-renovated units. The six (6) renovated units feature upgraded electrical including subpanels, copper plumbing, and a full high end renovation of the entire unit. Property upgrades include an upgraded electrical master panel and a new multi-layer elastomeric roof coating. The property has been meticulously maintained throughout the current ownership's tenure of more than 10 years. A detached parking area may also provide additional development potential through constructing accessory dwelling units. Located near the high-traffic intersection of Normandie Avenue and 3rd Street, the property is within walking distance of neighborhood retail, dining, and multiple Metro bus lines. 254 S. Normandie Avenue presents an exceptional opportunity to acquire a well-located multifamily asset with strong in-place fundamentals and meaningful long-term upside. Read Less
Listing Snapshot
Days Online
72
Last Updated
Beds
7
3/4 Baths
12
Square Ft.
7,552
Lot Size
0.17 Acres
Year Built
1957
MLS Number
26919127
Additional Details
Building
Built in 1957, Living area: 7552.0, 2 buildings, Levels: MultiSplit
Cooling
None
Heating
None
Income
Gross Income: $201,400, Net Operating Income: $118,881
Lot
0.1722 acres
Parking
15 total parking spaces, Covered, Garage, Tandem
Taxes
Parcel Number: 5518007022, Zoning: LAR4
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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.
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