1164 S Norton Ave, Los Angeles, CA 90019

1164 S Norton Ave, Los Angeles, CA 90019

Los Angeles, CA
$3,990,000

Property Description

The 19 units have a building size of 9,474 square feet with a unit mix consisting of (2) 1 Bed/ 1 Bath, (1) 2 Bed / 1 Bath, and (16) Single / 1 Bath units. The building sits on a large 12,320 square foot lot zoned LAR3 and was built in 1951.The building features a new roof, upgraded electric panel, and new plumbing. With rents almost 33% below market, the subject property provides a future investor with excellent upside potential. The building features secure gated entry and 16 parking spaces.

Property Features

  • Sale Price: $3,990,000
  • Area Size: 9,474 Sq. Ft.
  • Land Area: 0.28 Acres
  • Year Built: 1951
  • Listing Date: 7/18/2023
  • Units: 19
  • Current GRM: 13.91
  • Current Cap Rate: 4.60%
  • Price Per Unit: $210,000
  • Market GRM: 10.60
  • Market Cap Rate: 6.74%
  • Current NOI: $183,574

Lyon Stahl Investment Real Estate

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