Property Detail

Description

3005 S Normandie Ave | 8-Unit Multifamily in Adams-Normandie Near USC & Downtown LA. Built in 1960, the property features a balanced unit mix of (6) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units totaling 4,837 SF on a 6,600 SF LAR3-zoned lot. Priced at $1,395,000 (~$174K per unit / $288 per SF), this offering presents investors with a strong blend of in-place income and meaningful upside through rent growth, light renovations, and operational improvements. The property currently achieves a 6.72% cap rate, with pro forma projections of 9.22%, driven by units renting well below market and one vacant unit ready to be repositioned. Several units are more than 200% under market rent, offering immediate potential to increase NOI and property value through rent adjustments and modernization. With nine on-site parking spaces, investors can also generate additional income through parking fees or RUBS implementation.