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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$1,545,000

Est. payment - /mo

12 Beds

6 Baths

3,648 SqFt

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UPDATED:

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

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Listed by Alex Galuz Keller Williams Realty Calabasas

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11700 S Normandie AVE Los Angeles, CA 90044