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$ 1,545,000
Est. payment | /mo
12 Beds
6 Baths
3,648 SqFt
$ 1,545,000
Est. payment | /mo
12 Beds
6 Baths
3,648 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,648 sqft
Price per Sqft $423
MLS Listing ID 25571227
Bedrooms 12
HOA Y/N No
Year Built 1960
Lot Size 8,110 Sqft
Property Description
6-unit multifamily investment property located at 11700 South Normandie Avenue in the 90044 zip code of Los Angeles. The 3,648 square foot subject property sits on a 8,112 square foot lot and with close proximity to the 105 Freeway as well as multiple educational institutions such as Los Angeles Southwest College, Saint Frances X Cabrini Catholic School, and West Athens Elementary, making it a perfect living place for tenants with children, or those continuing their higher education. The subject property has a very attractive unit mix of all 2 Bedroom / 1 Bathroom units and is currently 100% occupied. Five of the six units are being occupied by Section 8 tenants, providing a new investor stable and secure income . The subject property sits in one of LAs Qualified Opportunity Zones, which enables the new investor the opportunity to forego all capital gains taxes on the exit after ample renovation and a 10-year hold. Another way a savvy investor could add significant value would be to utilize the new ADU program that was rolled out state-wide at the beginning of 2020. The program would allow the addition of two, 2 Bedroom / 2 Bathroom units which would generate roughly $50,000 of extra rental income every year and add around $600,000 of property value. This new program is being utilized all over the city as it has offered investors an easy road map to increase income.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LCR3YY
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Disposal
Exterior
Parking Features Carport
Total Parking Spaces 6
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6079008025
Special Listing Condition Standard
Listed by Alex Galuz Keller Williams Realty Calabasas
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Heiner And Natalia Escobar
REALTORS® | Lic# 01758326 | 01751260