1160 S Norton Ave, Los Angeles, CA 90019

1160 S Norton Ave, Los Angeles, CA 90019

Los Angeles, CA

Property Description

The 16 units are spread out across 12,314 square feet with a great unit mix consisting of (12)1 Bed / 1 Bath, and (4) 2 Bed / 1 Bath units. The building sits on a large 15,439 square foot lot zoned LAR3 and was built in 1951. There is potential to build ADU’s in the rear of the property in the carport structure. With rents well below market, the subject property provides a future investor with excellent upside potential as the surrounding area has seen a lot of growth in the recent past. With the right management strategy an investor will capitalize on the approximately 49% upside potential the building has to offer. The building features secure gated entry and carport parking in the rear of the property totaling 9 spaces.

Property Features

  • Sale Price: $3,990,000
  • Area Size: 12,314 Sq. Ft.
  • Land Area: 0.35 Acres
  • Year Built: 1951
  • Listing Date: 7/18/2023
  • Units: 16
  • Current GRM: 14.74
  • Current Cap Rate: 4.01%
  • Price Per Unit: $249,375
  • Market GRM: 9.39
  • Market Cap Rate: 7.65%
  • Current NOI: $160,130

Lyon Stahl Investment Real Estate

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