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Listed by Vijay Sharma • Keller Williams VIP Properties
$ 3,550,000
Est. payment /mo
New
542 N Normandie Avenue Los Angeles, CA 90004
11,700 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,700 sqft
Price per Sqft $303
MLS Listing ID CRSR25227087
HOA Y/N No
Year Built 1988
Lot Size 9,180 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
We are pleased to present 542 N. Normandie Ave, a rare 12-unit multifamily investment opportunity ideally located in the heart of the Mid-Wilshire and East Hollywood transit corridor. Built in 1988 with quality construction and spanning approximately 11,700 square feet, this three-story property offers spacious 2-bed, 2-bath units, each designed for comfortable urban living. All units are separately metered for gas and electricity. The property includes an on-site laundry facility for tenant convenience and additional income. The building provides secure entry, 16 gated parking spaces plus 2 guest spots, private balconies for select units, and a large storage area that can generate further revenue. With a current cap rate of 5% and a pro forma cap rate of 7%, the asset offers substantial upside through rent growth, operational efficiencies, and value-add improvements. One of the most immediate opportunities for investors lies in the implementation of a RUBS (Ratio Utility Billing System) program. By allocating utility expenses back to tenants, new ownership has the opportunity to significantly reduce operating costs, boost net operating income (NOI), and enhance cash flow. This streamlined approach not only increases the property’s performance but also drives long-term equity g
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry In Garage, Laundry Room
Building
Lot Description Level, Other
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