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… Read More 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. Read Less
Courtesy of Keller Williams Realty Calabasas 818-657-6500
Listing Snapshot
Days Online
20
Last Updated
Property Type
Other
Beds
12
Square Ft.
3,648
Lot Size
0.19 Acres
Year Built
1960
MLS Number
25571227
30 Days Snapshot Of 90044
$673k
+4%
(avg) sold price
3
0%
homes sold
87
+45%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Garbage Disposal, Range/Oven
Building
3,648 sq ft, Built in 1960, Levels: Two
Cooling
Wall/Window
Disclosures
None
Garage
Carport
Heating
Wall
Lot
LotAcreage: 0.1862, LotSizeArea: 8,113
Parking
TotalParking: 6
Property
NumberOfUnits: 6, Zoning: LCR3YY
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