Joe Cloninger

Partner, Sales/Marketing License ID: 01954784

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$ 1,200,000

$ 1,270,000 5.5%

Est. payment | -/mo

10 Beds

8 Baths

4,837 SqFt

$ 1,200,000

$ 1,270,000 5.5%

Est. payment | -/mo

10 Beds

8 Baths

4,837 SqFt

Key Details

Sold Price $1,200,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 4,837 sqft

Price per Sqft $248

MLS Listing ID 25603683

Sold Date 09/24/26

Bedrooms 10

Year Built 1960

Lot Size 6,601 Sqft

Acres 0.1515

Property Sub-Type Multi-Family

Property Description

3005 S Normandie Ave | 8-Unit Multifamily in Adams-Normandie Near USC & Downtown LA. Built in 1960 and fully renovated in 2025, 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 $1,270,000 (~$158,750 per unit / $262.56 per SF), this offering presents investors with a strong blend of in-place income and exceptional upside through rent recovery and operational improvements. The property currently achieves a 7.50% cap rate, with pro forma projections of 10.26%, driven by units renting significantly below market and one vacant unit ready to lease at $1,845 market rent. Portfolio-wide rent upside of 63.94% ($38,427 annual unrealized revenue) creates immediate NOI growth through organic lease turnover. With nine on-site parking spaces, investors can also generate additional income through parking fees or RUBS implementation.

Location

State CA

County Los Angeles

Area Mid Los Angeles

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall/Window

Equipment None

Exterior

Parking Features Carport, Attached

Garage Spaces 9.0

Building

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by Lyon Stahl Investment Real Estate, Inc.
Bought with Lyon Stahl Investment Real Estate, Inc.