3415 S Normandie Avenue, Los Angeles, CA 90007
Property
Sold December 2024
Listing Agent: Neema Ahadian (DRE #01346750) · Listing Office: Marcus & Millichap · Contact: 310-909-5500 · Bought with: Neema Ahadian · Marcus & Millichap · MLS #24463391 · Source: CRMLS
About this property
We are pleased to present a mixed-use investment opportunity located at 3415 Normandie Ave in the Exposition Park neighborhood of Los Angeles, located on the corner of Normandie Ave & W 35th St and a half mile from the University of Southern California. The property features four structures on two parcels totaling 15 apartment units and three retail spaces; the unit mix consists of seven singles, four one-bedrooms, four two bedrooms, and three retail spaces; six units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with a projected 6.98% CAP rate at the asking price once current vacancies are rented; additional 25% rental upside achievable as additional units turn. Separately metered for gas & electric; there is a community laundry room on-site for additional income. Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Mid-City; walking distance to multiple Metro local lines on W Jefferson Blvd & Normandie Ave and less than a mile from the Metro Expo Rail Station.
Listing description from the December 2024 sale, as reported to CRMLS.
Sale history