Stats

• Listing Price $4,375,000
• Price per Unit $156,250
• Price per Sq/Ft $303
• Cap Rate 5.52%
• GRM 10.62
• Number of Buildings 2
• Number of Units 28
• Gross Building Area 14,455 SF
• Lot Size 15,332 SF
• Floors 2
• Year Built 1953 & 1955
• Parking 16 Spaces
• Zoning LAR4-1

About the Property

The Kanner Group is pleased to present 208 & 222-224 S Normandie Avenue — a rare two-property portfolio centrally located in the highly sought-after Koreatown/Mid-Wilshire neighborhood of Los Angeles, east of Western Avenue and north of 3rd Street. Built in 1953 and 1955, the portfolio comprises two properties 100 feet from each other, totaling 28 units, with a mix of 11 (1+1) and 17 singles averaging approximately 600 SF and 450 SF respectively. Together, the buildings provide 15,332 gross square feet of living space across 14,455 square feet of LAR4-1-zoned land, with 16 parking spaces serving the residents. The property is separately metered for gas & electric and contains an on-site laundry room. The Soft-Story Retrofit work has been completed and the property is not subject to SB721. The units offer bright, comfortable interiors with laminate and tile flooring throughout living areas, bedrooms, and kitchens, creating a cohesive and inviting atmosphere. The units are filled with natural light that accentuates their clean finishes and well-maintained condition. Kitchens provide ample cabinetry and countertop space, with select units featuring newer white cabinetry and modern hardware. Bathrooms include updated vanities, fixtures, and glass-enclosed tub/shower combinations, while classic wall-mounted gas heaters add character and warmth to each home. With a Walk Score of 90, in close proximity to Wilshire Blvd. the 101, 2, 10, and 110 freeways, and just one mile from the Wilshire/Vermont Metro B (Red) and D (Purple) Line station, residents enjoy effortless connectivity to the countless shopping, dining, entertainment, and cultural destinations of Koreatown, Westlake, Mid-Wilshire, Hollywood, revitalized Downtown Los Angeles, and beyond. 208 & 222-224 S Normandie Avenue are well-positioned assets offering an astute investor the opportunity to implement a unit renovation program, optimizing market rents when units become vacant, and common area refresh activating significant appreciation and future returns.