$ 1,375,000
-
$1,375,000
Price -
14
Bed -
8
Bath -
5,560
SqFt
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About the Listing X81461 - X90606
436 Normandie Pl. is a 6-unit Melrose Hill offering priced at approx. $229,167 per unit and $247 per SF, operating at a 6.72% CAP and 8.92 GRM on current rents. The pricing aligns with recent sales in the area. Positioned just north of Beverly Blvd., the property sits approx. 0.8 miles from the Melrose Ave. and Western Ave. corridor, where a growing mix of restaurants, cafs, and neighborhood retail has reshaped Melrose Hill into one of Central LA's more active pockets. Residents are also within approx. 1.3 miles of Chapman Market and the 6th St. corridor, as well as the Wilshire Blvd. spine of Koreatown, placing the property within reach of multiple dining, retail, and employment hubs. The building is comprised of (2) 3-bdrm. / 2-bath units and (4) 2-bdrm. / 1-bath units, a unit mix that continues to perform well in Mid-City where renters value larger layouts and flexibility for shared living or work-from-home use. Built in 1957, the structure features a clean 2-story layout above tuck-under parking, providing a straightforward and efficient footprint for ongoing operations. Based on renovated rental comparables in the surrounding area, the property offers approx. 14% rental upside, with projected stabilization at an 8.46% CAP and 7.70 GRM. The consistent unit mix and layout allow for a clear and repeatable renovation strategy as units turn over. ***Major building systems have already been addressed. Recent capital improvements include replacement of the building sewer line, copper plumbing upgrades replacing galvanized lines, and roof improvements. Additional upgrades include select window replacements in units 3 and 6, further reducing near-term capital requirements and allowing a buyer to focus on interior improvements and rent growth.*** With in-place income, completed system upgrades, and a location positioned between Melrose Hill, Koreatown, and the 6th Street corridor, 436 Normandie Pl. offers a 6-unit asset where pricing, unit mix, and upside remain clearly defined.
Listing Highlights
Status
Active
Days on Site
44
Property Type
Multi-Family
MLS ®
26669075
Year Built
1957
Total Square Footage
5,560
Lot/Acreage
N/A
County
Los Angeles
Interior Details
- Bedrooms: 14
- Bathrooms: 8 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Wall
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 8
- Zoning: LAR3
- Roof:
- Others:
- Sewer:
- Parking Features: Tandem,Covered Parking
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
436 Normandie Pl Los Angeles, CA 90004
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