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.
Property Details
Property Features
Property Information:
Year Built: 1923
Stories: 2
Living Area: 7,956 SqFt
Listing Office:
Office Name: KW Commercial Studio City
Office Phone: (818) 432-1500
Listing Agent: Nick Astrupgaard
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 16
Exterior Features
Parking Information:
Parking: Garage
Lot Features
Lot Information:
Lot Size: 0.18 Acres
School Info
Assigned Schools Information:
Belmont Senior High School, Public District Grades 9-12
Contreras Learning Center-Los Angeles School of Global St, Public District Grades 9-12
Contreras Learning Center-School of Social Justice, Public District Grades 9-12
Virgil Middle School, Public District Grades 6-8
Studio, Public District Grades 6-8
Alexandria Avenue Elementary School, Public District Grades KG-5
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Academy For Enriched Sciences, Public Magnet Grades 1-5
Other
Directions Information:
Directions: Excellent location in Mid-Wilshire and Koreatown sub-market
Price Information
Listing Price Info
Price Summary:
List Price: $5,600,000
Price Per SqFt: $704/SqFt
Tax Information:
Annual Amount: $17,139
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $4.6M more than the Median Sold Price and $76/SqFt more than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24366329
Listing Office:
Office Name: KW Commercial Studio City
Office Phone: (818) 432-1500
Listing Agent: Nick Astrupgaard
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/29/2024, 5:25:18 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jun 06, 2005
Jun 06, 2005Home Sold
$350,000
Feb 16, 1990
Feb 16, 1990Home Sold
$680,000
Mar 21, 1989
Mar 21, 1989Home Sold
$600,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$17,139
$1,342,259
2020
$16,652
$1,327,824
2019
$16,519
$1,301,789
2018
$16,138
$1,276,265
2017
$16,138
$1,251,241
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
4
/10
Alexandria Avenue Elementary School
4211 Oakwood Ave
Distance between this listing and this school0.18 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school2.64 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school21.16 miles
Public Magnet Grades 1-5
Middle School
4
/10
Virgil Middle School
152 N Vermont Ave
Distance between this listing and this school0.61 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.17 miles
Public District Grades 6-8
High School
2
/10
Belmont Senior High School
1575 W 2nd St
Distance between this listing and this school2.27 miles
Public District Grades 9-12
1
/10
Contreras Learning Center-Los Angeles School of Global St
322 Lucas Ave
Distance between this listing and this school2.58 miles
Public District Grades 9-12
2
/10
Contreras Learning Center-School of Social Justice
322 Lucas Ave
Distance between this listing and this school2.58 miles
Public District Grades 9-12
Assigned Schools
4
/10
Alexandria Avenue Elementary School
4211 Oakwood Ave
Distance between this listing and this school0.18 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school2.64 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school21.16 miles
Public Magnet Grades 1-5
Assigned Schools
4
/10
Virgil Middle School
152 N Vermont Ave
Distance between this listing and this school0.61 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.17 miles
Public District Grades 6-8
Nearby Schools
5
/10
Camino Nuevo Academy #2
635 S Harvard Blvd
Distance between this listing and this school0.90 miles
Public Charter Grades KG-8
Assigned Schools
2
/10
Belmont Senior High School
1575 W 2nd St
Distance between this listing and this school2.27 miles
Public District Grades 9-12
1
/10
Contreras Learning Center-Los Angeles School of Global St
322 Lucas Ave
Distance between this listing and this school2.58 miles
Public District Grades 9-12
2
/10
Contreras Learning Center-School of Social Justice
322 Lucas Ave
Distance between this listing and this school2.58 miles
The neighbors living near this home have an average income of $31,958. Most Los Angeles, CA residents have annual incomes less than $35k. Typical family type is single, no kids. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 201 N Normandie Ave
What is the listing price of this property?
The listing price of 201 N Normandie Ave property is $5,600,000.
What type of property is this?
The property 201 N Normandie Ave is a house located in Los Angeles, California, 90004.
Is this property for sale now?
Active Listing: 201 N Normandie Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 201 N Normandie Ave are: Alexandria Avenue Elementary School: GreatSchools Rating 4/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Academy For Enriched Sciences: GreatSchools Rating 9/10Virgil Middle School: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Belmont Senior High School: GreatSchools Rating 2/10Contreras Learning Center-Los Angeles School of Global St: GreatSchools Rating 1/10Contreras Learning Center-School of Social Justice: GreatSchools Rating 2/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $17,139 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on June 6, 2005 for $350,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 201 N Normandie Ave has 16 bedrooms and 16 bathrooms.
What is the square footage of this property?
The property 201 N Normandie Ave is 7,956 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 201 N Normandie Ave is 1923.
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This home is located at 201 N Normandie Ave in Los Angeles, CA and zip code 90004 in the Central LA neighborhood. This 7,956 square foot home, which was built in 1923, sits on a 0.18 acre lot. Features: 16 bedrooms, 16 bathrooms. It has been listed on Rocket Homes since March 08, 2024 and is currently priced at $5,600,000.
Los Angeles, CA housing market in March 2024 saw over 628 listings sold above listed price, more than 196 sold at listed price and over 579 sold below. In March 2024 in Los Angeles, CA there were 10.8% more homes for sale than in February 2024. Listings spent 34 days on the market in March 2024, and had a median list price of $975,970 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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