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Listing Details

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School Ratings & Info

Description

I am pleased to present the opportunity to acquire 941North Normandie Avenue, a seven-unit luxury apartment building located in East Hollywood. Constructed in 1986, the property is not subject to the more restrictive Los Angeles rent control and allowsfor higher annual rent increases. Current ownership has extensively renovated all units at the property with high end finishes including large open concept kitchen/living area, stainless steel appliances, in-unit washer/dryer, central AC/heat with Nest controls, Ring doorbell along with new flooring, fixtures and tankless water heaters. Additionally, the common area has been improved with new exterior paint, new secured parking and new landscaping upgrades.941 North Normandie Avenue provides investors a rare buying opportunity to acquire a fully renovated apartment community that also offersa value-add component. The property is well suited to provide a healthy income stream and solid market appreciation as the area continues its upward trajectory.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T11:26:42.917. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/119133324
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941 N Normandie Avenue Los Angeles (City), CA 90029

  • Price: $2,950,000
  • Status: Pending
  • Updated: 55 min ago
  • ID#: 21758614
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Beds
0
Baths
0
½ Baths
0.19
Acres
1986
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
I am pleased to present the opportunity to acquire 941North Normandie Avenue, a seven-unit luxury apartment building located in East Hollywood. Constructed in 1986, the property is not subject to the more restrictive Los Angeles rent control and allowsfor higher annual rent increases. Current ownership has extensively renovated all units at the property with high end finishes including large open concept kitchen/living area, stainless steel appliances, in-unit washer/dryer, central AC/heat with Nest controls, Ring doorbell along with new flooring, fixtures and tankless water heaters. Additionally, the common area has been improved with new exterior paint, new secured parking and new landscaping upgrades.941 North Normandie Avenue provides investors a rare buying opportunity to acquire a fully renovated apartment community that also offersa value-add component. The property is well suited to provide a healthy income stream and solid market appreciation as the area continues its upward trajectory.
Exterior Features

Parking Features Uncovered

Property Features

Gross Income 207600 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 136838 Senior Community YN No Special Listing Conditions Standard Zoning Lar3

Listing provided courtesy of Sean Rosenzweig of Marcus & Millichap


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T11:26:42.917. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660