1900 N Normandie Ave Los Angeles, CA 90027
Owner User Duplex in Prime Los Feliz
SOLD: $1,350,000 CAP RATE: 2.91% GRM: 19.48 PRICE PER SQUARE FOOT: $454
We are pleased to announce the sale of 1900 Normandie Ave a rare two unit multifamily offering located in the heart of Los Feliz one of the most desirable and supply constrained rental submarkets in Los Angeles. The property features an exceptional unit mix consisting of one large 3 bedroom 2 bathroom unit and one 2 bedroom 1 bathroom unit with an impressive average unit size of 1,485 square feet providing spacious layouts that command strong long term tenant demand.
The property sold for $1,350,000 after originally being brought to market at $1,200,000. Based on the income profile the final sale price reflects a 2.91% cap rate and a 19.48 GRM. The asset is turnkey with approximately 4% upside remaining in rental income allowing a new owner to benefit from immediate stability with modest growth potential.
Located in a premier pedestrian friendly pocket of Los Feliz the property boasts a Walk Score of 85 classified as “Very Walkable” with residents enjoying close proximity to an array of fine dining specialty coffee shops trendy retail grocers and entertainment options. This location consistently attracts a high quality renter profile seeking both walkability and neighborhood charm.
The parcel also offers the potential to add an additional dwelling unit on the existing land further enhancing long term value and development flexibility. The combination of oversized units a prime Los Feliz location income stability and expansion potential makes 1900 Normandie Ave an exceptional long term investment opportunity.
Investment Highlights
• Prime Los Feliz location with a Walk Score of 85 providing immediate access to dining shopping grocery and entertainment
• Strong unit mix consisting of one 3 bedroom 2 bathroom unit and one 2 bedroom 1 bathroom unit with an impressive average size of 1,485 square feet
• Turnkey asset with approximately 4% remaining upside in rental income
• Final sale price of $1,350,000 reflecting a 2.92% cap rate and a 19.50 GRM
• Highly desirable renter demographic with consistent long term stability in the Los Feliz submarket
• Potential to add an additional dwelling unit to further enhance income and long term value
• Rare opportunity to acquire large character filled units in one of the most sought after rental corridors in Los Angeles
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com