436 Normandie PL, Los Angeles, CA 90004
436 Normandie PL, Los Angeles, CA 90004
436 Normandie PL, Los Angeles, CA 90004
436 Normandie PL, Los Angeles, CA 90004
436 Normandie PL, Los Angeles, CA 90004
436 Normandie PL, Los Angeles, CA 90004
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"Susie" Bruning-Hughes

"Susie" Bruning-Hughes

+1(562) 260-0588
$ 1,375,000
Est. payment | /mo

14 Beds

8 Baths

5,560 SqFt

Save
$ 1,375,000
Est. payment | /mo
Save

14 Beds

8 Baths

5,560 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,560 sqft

Price per Sqft $247

MLS Listing ID 26669075

Bedrooms 14

HOA Y/N No

Year Built 1957

Lot Size 5,279 Sqft

Property Description

436 Normandie Pl. is a 6-unit Melrose Hill offering priced at approx. $229,167 per unit and $247 per SF, operating at a 6.78% CAP and 8.92 GRM on current rents. The pricing aligns with recent sales in the area. Positioned just north of Beverly Blvd., the property sits approx. 0.8 miles from the Melrose Ave. and Western Ave. corridor, where a growing mix of restaurants, cafs, and neighborhood retail has reshaped Melrose Hill into one of Central LA's more active pockets. Residents are also within approx. 1.3 miles of Chapman Market and the 6th St. corridor, as well as the Wilshire Blvd. spine of Koreatown, placing the property within reach of multiple dining, retail, and employment hubs. The building is comprised of (2) 3-bdrm. / 2-bath units and (4) 2-bdrm. / 1-bath units, a unit mix that continues to perform well in Mid-City where renters value larger layouts and flexibility for shared living or work-from-home use. Built in 1957, the structure features a clean 2-story layout above tuck-under parking, providing a straightforward and efficient footprint for ongoing operations. Based on renovated rental comparables in the surrounding area, the property offers approx. 14% rental upside, with projected stabilization at an 8.51% CAP and 7.70 GRM. The consistent unit mix and layout allow for a clear and repeatable renovation strategy as units turn over. ***Major building systems have already been addressed. Recent capital improvements include replacement of the building sewer line, copper plumbing upgrades replacing galvanized lines, and roof improvements. Additional upgrades include select window replacements in units 3 and 6, further reducing near-term capital requirements and allowing a buyer to focus on interior improvements and rent growth.*** With in-place income, completed system upgrades, and a location positioned between Melrose Hill, Koreatown, and the 6th Street corridor, 436 Normandie Pl. offers a 6-unit asset where pricing, unit mix, and upside remain clearly defined.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Interior

Heating Wall Furnace

Fireplace No

Laundry Common Area

Exterior

Parking Features Covered, Garage, Tandem

Community Features Gated

View Y/N No

View None

Total Parking Spaces 8

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5520013002

Security Features Gated Community

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Kenny Stevens Compass #01090251
Nearby Locations
"Susie" Bruning-Hughes

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(562) 260-0588

susiehughesreg@gmail.com

3020 Old Ranch Parkway Suite 250, Seal Beach, CA, 90740, US

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436 Normandie PL