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$ 6,250,000
Est. payment /mo
New
3020 S Normandie Avenue Los Angeles, CA 90007
3 Beds
5 Baths
6,456 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID TR26226939
Bedrooms 3
Lot Size 6,456 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Introducing 3020 Normandie Avenue, a newly constructed (2025) four-story flex housing investment located less than a mile west of the University of Southern California (USC) and within the Department of Public Safety (DPS) Patrol Zone. The property offers 6 units and 31 bedrooms configured as 24 individually leasable suites across five floor plans: (12) micro studios, (2) studios, (5) 1-bed/1-bath, (3) 2-bed/2-bath and (2) 3-bed/3-bath. Offered at $6,250,000, $201,613 per bedroom and $518 per square foot, the property generates $623,160 in annual scheduled gross income, a 6.54% current cap rate and 10.03x GIM, with 5.9% rental upside supporting a 7% cap rate at market rents. What sets this property apart is its flexibility. Every suite has a private bathroom, ample closet space and its own kitchenette. The layouts appeal to students, faculty, staff and working professionals alike, so vacancies can be filled year-round rather than only at the August turnover, and lease expirations can be staggered to smooth cash flow. The property totals approximately 12,066 square feet of rentable space with 7 on-site parking spaces, rooftop solar panels, security cameras, coded locks, secured mailboxes and parcel lockers. New construction keeps repairs and capital expenditures to a minimum, and the asset may qualify for 100% bonus depreciation tax benefits. The Expo/Vermont and Expo/Western E Line stations are 0.8 miles away, with quick access to Exposition Park, the LA Memorial Coliseum, the I-10 and I-110 freeways and Downtown Los Angeles. Buyer to verify all information, including the l
Location
State CA
County Los Angeles
Zoning Builder
Direction Located on Normandie Ave between W Jefferson Blvd and W 30th St
Interior
Heating Forced Air Unit
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 4
Level or Stories 4
Others
Senior Community No
Tax ID 5040001011
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Chi Zhang, DRE#02086778 Millennium Group Realty
NEARBY SCHOOL & BUSINESS