2701 S Normandie Avenue

    Los Angeles (City), CA 90007
    • $1,050,000
    • STATUS: Active Under Contract
    • ON SITE: 57 days
    • ID#: PW19199146
    Under Contract
    $1,050,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,561
      SQFT
    • $295
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    Great investment in the heart of LA near USC Campus. Beautiful 4-unit property (10 bedrooms) near USC. Consisting of 2 separate buildings, 2701 S. Normandie Ave is a charming duplex with 3 bedrooms/1 bath in each unit; 1714 W 27th Street is a duplex with a 2 bedroom/1 bath in each unit. This property is well-maintained by its owner who is a builder/general contractor in the last 30 year. Fully updated with low operating cost. All units are individually metered for gas and electrical. The building was updated with electrical, sewer, copper plumbing, and a newer roof. Each unit has its individual water heater. Each unit has security door, lots of storage, and new quartz countertops in the kitchens. Ceiling fans in every bedroom. Fully fenced and security bars on windows. Located on a corner lot with 6 on-site parking spaces, and plenty of street parking. Unlike many buildings in this neighborhood with brick foundation, this building was updated with its concrete foundation with shear walls. This property boasts the Lowest $/per bedroom counts in USC neighborhood. Conveniently located by the 10 freeway and an easy drive to Downtown, Koreatown, and USC. A high demand area and a prime rental location. IDEAL FOR STUDENT HOUSING. A true value-add deal for any savvy investor+GGs portfolio.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-17T00:35:15.083. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/98139827

    2701 S Normandie Avenue Los Angeles (City), CA 90007

    • Price: $1,050,000
    • Status: Active Under Contract
    • ID#: PW19199146
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,561
    SQFT
    $295
    $/SQFT
    1924
    Built
    Neighborhood:
    C16 - Mid Los Angeles
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    Great investment in the heart of LA near USC Campus. Beautiful 4-unit property (10 bedrooms) near USC. Consisting of 2 separate buildings, 2701 S. Normandie Ave is a charming duplex with 3 bedrooms/1 bath in each unit; 1714 W 27th Street is a duplex with a 2 bedroom/1 bath in each unit. This property is well-maintained by its owner who is a builder/general contractor in the last 30 year. Fully updated with low operating cost. All units are individually metered for gas and electrical. The building was updated with electrical, sewer, copper plumbing, and a newer roof. Each unit has its individual water heater. Each unit has security door, lots of storage, and new quartz countertops in the kitchens. Ceiling fans in every bedroom. Fully fenced and security bars on windows. Located on a corner lot with 6 on-site parking spaces, and plenty of street parking. Unlike many buildings in this neighborhood with brick foundation, this building was updated with its concrete foundation with shear walls. This property boasts the Lowest $/per bedroom counts in USC neighborhood. Conveniently located by the 10 freeway and an easy drive to Downtown, Koreatown, and USC. A high demand area and a prime rental location. IDEAL FOR STUDENT HOUSING. A true value-add deal for any savvy investor+GGs portfolio.
    Exterior Features

    Architectural Style Craftsman Carport Spaces 0.00 Fence YN Yes Fencing WoodWrought Iron Garage Spaces 0.00 Lot Features Corner Lot Lot Size Source Assessor Lot Size Units Square Feet Other Structures Two On A Lot Parking Features Parking Space Parking Total 6.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof Shingle Spa Features None Spa YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 800 Average2 Bed Area Units Square Feet Average3 Bed Area 980 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central AirWall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetTile Heating CentralForced Air Heating YN Yes Interior Features Ceiling Fan(S)Copper Plumbing FullGranite Counters Laundry Features None Levels Two Window Features Double Pane Windows

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.97 Community Features Urban Country Us Elevation Units Feet Fuel Expense 0.00 Gardener Expense 480.00 Gross Income 66538.00 Gross Multiplier 15.78 Gross Operating Income 64541.00 Gross Scheduled Income 66538.00 Insurance Expense 2300.00 Land Lease YN No Laundry YN No Net Operating Income 44636.00 New Construction YN No New Taxes Expense 13125.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 19905.00 Property Condition Updated/Remodeled Property Sub Type Quadruplex Rent Control YN Yes Security Features Window Bars Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasSee RemarksTelephone Total Actual Rent 5470.00 Total Expenses 19905.00 Trash Expense 0.00 Utilities Cable Available Vacancy Allowance 1969 Vacancy Allowance Rate 3.00 Water Sewer Expense 3800.00 Water Source Public Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Justin White of Justin White and Yuhong Li of Homeridge Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-17T00:35:15.083. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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