Homes for sale - 837 S Normandie AVE, Los Angeles, CA 90005

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Elaine Scotton

UR TEAM Real Estate Services

escotton@urteaminc.com +1(626) 709-3844

$ 3,200,000

Est. payment | -/mo

16 Beds

16 Baths

10,252 SqFt

Save

$ 3,200,000

Est. payment | -/mo

Save

16 Beds

16 Baths

10,252 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 10,252 sqft

Price per Sqft $312

MLS Listing ID 25555929

Bedrooms 16

HOA Y/N No

Year Built 1925

Lot Size 7,448 Sqft

Property Description

Located two blocks south of Wilshire Blvd, 837 S. Normandie offers a chance to acquire a 16-unit asset in the heart of Koreatown with exceptional cash flow metrics; 9.06 GRM and a 6.50% CAP rate on current income. The building features (16) 1-bdrm. units averaging 600 SF. 12 of the units have undergone modern renovations featuring wood-laminate floors, quartz countertops, stainless steel appliances, updated tilework and cabinetry, recessed lighting, and ceiling fans. The units are separately metered for electricity and master-metered for gas. This allows for an annual rent increase of 4% (buyer to verify). Most units are home to single tenants, and 10 are leased through Section 8; offering reliable, government-backed income. Additionally, there is a RUBS program that generates added income. Notable building improvements include mainly copper plumbing and $15K in waterproofing. The building's highly walkable location is just minutes from three of Koreatown's major neighborhood hubs (Wilshire Blvd, Western Ave, 6th St, and 8th St), lined with some of LA's most popular Korean BBQ joints, dessert cafes, bars, karaoke lounges, retail centers, and cultural institutions. The upcoming Purple Line expansion, which includes light-rail stations along Wilshire and is expected to go live later this year; will further increase accessibility, compress commute times to Downtown and the Westside, and boost rental demand. 837 S. Normandie offers dependable in-place cash flow, and long-term appreciation potential in a constantly developing neighborhood. For the investor seeking yield in a blue-chip urban environment, this is a clear opportunity.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR4

Interior

Interior Features Ceiling Fan(s)

Flooring Tile

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Refrigerator

Laundry Common Area, Laundry Room

Exterior

Parking Features None

View Y/N No

View None

Building

Faces East

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5094019008

Security Features Key Card Entry

Special Listing Condition Standard

Listed by Kenny Stevens Compass

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(626) 709-3844

escotton@urteaminc.com

837 S Normandie AVE Los Angeles, CA 90005