201 N Normandie Ave, Los Angeles, CA 90004
FOR SALE

201 N Normandie Ave
Los Angeles, CA 90004

Koreatown
  • 16 Beds
  • 16 Baths
  • 7,956 sqft
  • 16 Beds
  • 16 Baths
  • 7,956 sqft

$5,600,000

Est. Mortgage $35,504/mo*
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Local Information

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Description

Huge 400k Price Reduction! 100% Fully renovated 16-unit apartment building (13 vacant) with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are fully approved RTI plans to add two detached ADUs in the garages (Under Construction) to achieve a remarkable 7% Cap Rate and 10.7 GRM.201 North Normandie Avenue is a sixteen-unit apartment community in Los Angeles, CA. The offering provides investors with a unique opportunity to purchase a premium asset that is completely vacant and lease out at market rates. 201 N Normandie Avenue was built in 1923 and boasts sixteen stylish apartment homes. Ownership has conducted a complete property restoration with permits. It features an attractive unit composition of sixteen (16) spacious and well-designed One-Bedroom | One-Bathroom units. In all, 201 North Normandie Avenue features 7,956 square feet of improvements on a collective 7,700 square feet of land, zoned LAR3. The property is separately metered for gas and electrical utilities.The property has seen a complete restoration, down to every inch. Overall systems were overhauled with a new roof, plumbing, and electrical systems were updated within the last couple of years with a new panel and wiring. Also, there are updated HVAC systems and new windows in each unit. When approaching the property, tenants are invited with a unique and inviting color scheme featuring a fresh paint job and stylish landscaping. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets, modern countertops, and new water heaters. The bathrooms boast new vanities, modern fixtures, along with sleek shower stalls. And the cherry on top is ownership has Ready-to-Issue plans for two detached 1-bedroom ADUs where the garages currently are, providing an additional stream of income.The location is in the heavily sought-after Koreatown and Wilshire Center sub-markets. 201 N Normandie Avenue is poised to capitalize on the tremendous momentum in the immediate area and neighboring Hollywood and Downtown. The subject property's transit-oriented and highly walkable location offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property's location and strong income metrics, 201 N Normandie Avenue is an ideal investment for investors seeking immediate returns along with long-term wealth preservation and appreciation.

Home Highlights

Parking
Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$704
Listed
52 days ago

Home Details for 201 N Normandie Ave

Interior Features

Beds & Baths
Number of Bedrooms: 16Number of Bathrooms: 16
Dimensions and Layout
Living Area: 7956 Square Feet
Heating & Cooling
Heating: OtherHas CoolingAir Conditioning: OtherHas HeatingHeating Fuel: Other
Levels, Entrance, & Accessibility
Stories: 2Levels: Two

Exterior Features

Exterior Home Features
Other Structures: Other
Parking & Garage
No CarportHas a GarageNo Attached GarageParking Spaces: 4Parking: Garage

Days on Market

Days on Market: 52

Property Information

Year Built
Year Built: 1923
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family

Price & Status

Price
List Price: $5,600,000Price Per Sqft: $704

Active Status

MLS Status: Active

Location

Direction & Address
City: Los Angeles

Agent Information

Listing Agent
Listing ID: 24-366329

Building

Building Area
Building Area: 7956 Square Feet

Lot Information

Lot Area: 7701.408 sqft

Listing Info

Special Conditions: Standard

Compensation

Buyer Agency Commission: 2Buyer Agency Commission Type: %
Notes
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed

Miscellaneous

Mls Number: 24-366329
Last check for updates: about 21 hours ago
Listing courtesy of Nick Astrupgaard DRE # 01893466, (818) 432-1580
KW Commercial Studio City, (818) 432-1500
Rich Johns DRE # 01432215, (818) 432-1575
KW Commercial Studio City, (818) 432-1500
Source: CLAW, MLS#24-366329

Price History for 201 N Normandie Ave

DatePriceEventSource
03/08/2024$5,600,000Listed For SaleCLAW #24-366329
03/01/2024ListingRemovedCLAW #24-345093
02/06/2024$5,600,000PriceChange
CLAW #24-345093
01/08/2024$5,750,000Listed For SaleCLAW #24-345093
01/05/2024ListingRemovedCLAW #23-332855
12/05/2023$5,750,000PriceChange
CLAW #23-332855
11/17/2023$5,995,000PriceChange
CLAW #23-332855
04/18/2022$2,423,500Listed For SaleCLAW #22-147587

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Neighborhood Overview

Koreatown
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Koreatown

  • G8bfjxphqr
    "koreatown is seriously 20 mins from everything in LA… at least when there isnt any traffic (lol) and is an awesome area"
    0
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  • H64qnr7bdg
    "Bus are easy to access and on time . Traffic crazy but manageable at times coming and going. Side streets are reliable "
    0
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  • Jason
    "Traffic is busy in the mornings and evenings. There are more cars than parking spaces, so parking is impossible at night."
    1
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  • Trulia User
    "the best part about this area that I've been in Bangladesh is they have Chateau party they have a lot of programs for children activity with the children such as baseball soccer basketball tennis and they fancy and I appreciate that so our children do have somewhere to go and socialize and achieve their goals that's the only thing in the last 20 years I've enjoyed in this neighborhood thank you"
    3
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  • Trulia User
    "they have so many families in this neighborhood and we all take our children out of the neighborhood to nice parks beaches amusement parks Disneyland rent airbnbs rent hotel rooms so our children can enjoy"
    0
    Flag
  • Trulia User
    "It’s a great place to hangout with friends, but it’s not the best place to live and raise children. "
    0
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  • Trulia User
    "It’s a diverse neighborhood. If you want to hangout with friends it’s a great spot, but to live here I don’t recommend it. Unless you like the city life it’s perfect for you. "
    8
    Flag
  • Trulia User
    "it's a nice place. there are a bunch of weirdos that live on the streets so I wouldn't let my kids out without an adult. "
    0
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  • Trulia User
    "gangs aren't as much of a problem as they were due to homeboy Industries and the work they do here,it's hard to believe that these people who were demonized could be now what's keeping our communities together thank you father Gregory Boyle for your belief and vision "
    1
    Flag
  • Trulia User
    "We can come together evert Other weekend barbecue have a family outing all the families together having fun"
    0
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  • Trulia User
    "You see people walking their dogs all the time. Beware, no one picks up after their pup and there’s poop everywhere :)"
    0
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  • Trulia User
    "There’s lots of grassy areas but people don’t train their dogs properly and few have control, manners, or pick up after their pets. "
    1
    Flag
  • Trulia User
    "Lots of people have dogs. Some are very respectful of homeowners properties. Most are not. Very few actual dog parks. You have to drive to them rather than just walk. I am a dog lover but to be perfectly honest it's not a place I would like to raise a dog as a pet. "
    0
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  • Trulia User
    "It’s okay. It has become an eyesore with homelessness and crime the past few years. Local government needs to stop lining their pockets and do something to help those in need. "
    0
    Flag
  • Trulia User
    "There are many young people here but could have more parks and public areas for young people to congregate."
    0
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  • Trulia User
    "A lot of dog friendly establishments, restaurants, and dog friendly landlords. Several Dog parks within 30 minutes "
    0
    Flag
  • Trulia User
    "Farmers markets and occasional street fairs. It still lacks a neighborhood vibe that makes you feel like someone is watching out for you. "
    0
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  • Trulia User
    "Living in ktown since 2016 and it’s one of the best family neighborhoods.Not much gang activity going on around and it’s pretty safe for kids.Good restaurants in the area as well."
    6
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  • Trulia User
    "It is a pretty fast commute to the are where I used to love which is La Brea and Beverly Hill and the commute is 10 minutes"
    0
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  • Trulia User
    "no dog park near by. not really areas for letting your dog loose only typical walks and grass patches on the sidewalk. but overall a nice area to walk by"
    0
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  • Trulia User
    "The area building looks sus. they only upload images of the surroundings but not the actual apartment themselves very irritating."
    0
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  • Martina M. V.
    "This neighborhood has so much to offer but it’s really not well maintained. Lots of tents and trash everywhere, insects on the streets and, well lots of dog owners who don’t pick up after their dogs. "
    17
    Flag
  • David S.
    "I work from home so there’s no commute. But people drive very poorly here. They run stop signs and don’t care. "
    8
    Flag
  • Angela
    "There are drunks that live on this block and the homeless population has increased. More people living in tents as you walk out of tour apt complex. "
    9
    Flag
  • Alex J.
    "Getting to the highway takes the longest. Bad drivers in this area, plus it’s very over crowded. It’s easy to get to DTLA though "
    7
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  • Andrina D.
    "My neighborhood has lots of families and friendly people. It is safe and clean. There are lots of restaurants and grocery stores nearby and a few parks. "
    3
    Flag
  • Mary P.
    "Ktown has amazing food. I feel safe walking alone in the day, but I avoid going out at night alone. Traffic is pretty heavy consistently. Parking is a nightmare. "
    5
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  • Kimberly H.
    "I’ve been in Koreatown for the past 10 years. I love the diversity of population and close proximity to a DTLA/Hollywood/Miracle Mile, and the food is delicious. But people do not pick up after their dogs and the homelessness is getting out of control."
    24
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  • Mariana A.
    "Friendly neighborhood. Lots of people walking their dogs. Wish they would pick up after them as well. "
    0
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  • Hola.albertloya
    "Lots of schools, very few parks. Walkable neighborhood, lots of homeless. great architecture and history. "
    0
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  • Joe P.
    "It’s centrally located and close to all areas of LA. Rents are still relatively low. Parking is absolutely awful. People are not neighborly and save street spaces daily when they have ample parking spaces in their lots. There’s very little neighborhood camaraderie. Bikes stolen frequently. Packages stolen so frequently it’s better to ship to an Amazon locker. My car has been broken into 3 times in 7 years. The only reason i stay is rent is so cheap for a huge space and it’s close to everything. "
    18
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  • Brianvaldez8
    "Streets are dirty Rent is extremely high and unaffordable. Dirty streets. Drink more water Dirty streets With NO PARKING . Extremely difficult to find a parking spot . Ticket officers always bullshiting and giving tickets. Pluck the police Clean your city and your neighborhood S"
    2
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  • Croissantflakes
    "Walking dogs is inconvenient. Drivers often don’t stop all the way at STOP signs, and even the small streets are busy with cars."
    0
    Flag
  • Mohammad S.
    "k town is very busy area, plenty of things to do and eat. it's split with little Bangladesh where you will find alot of cultural Indian food/events. "
    0
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  • Carla.p.park
    "I love the diversity of Koreatown. I also love the walkability factor. I’m close to the metro so if I need to go to DTLA, it’s a 7 min subway ride. It’s possible to live without a car in LA if you live in Koreatown. "
    9
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  • Caelonreed
    "Love Koreatown very lively. My neighbors are families and persons who are natives to this area and they are all very kind."
    0
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  • Megan G.
    "It’s up and coming. Gentrifying, but very slowly. I’ve loved it here for over a year. It’s quiet, yet popular."
    0
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  • Mistalock
    "I've lived in this area for twenty years and though it isn't the most neighborly of places it is well kept in most areas and is near everything that you'd want to do in a city. "
    3
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  • KTownLA
    "Gentrification and in-fill development has made this the fastest growing and most dense part of LA. Plethora of dining options and pubs/bars/clubs. More singles/couple oriented. Plans are being implemented to retain the Korean-American character. Some beautiful examples of architecture and stately buildings mixed in with modern and hodgepodge buildings. Closest thing to a walkable part of town with access to public transport aside from DTLA. Major homeless population is a big deterrent. "
    1
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  • Leslie M.
    "There is good diversity as far as restaurants in the area go. Other than that, the place is filling up with tents on sidewalks, as well as drunks passed out & rats running around. "
    2
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LGBTQ Local Legal Protections

Nick Astrupgaard, KW Commercial Studio City
© 2024 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2024-01-24 14:45:40 PST. 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. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
201 N Normandie Ave, Los Angeles, CA 90004 is a 16 bedroom, 16 bathroom, 7,956 sqft multi-family built in 1923. 201 N Normandie Ave is located in Koreatown, Los Angeles. This property is currently available for sale and was listed by CLAW on Mar 8, 2024. The MLS # for this home is MLS# 24-366329.