Deal numbers
- Est. cap rate
- 3.4%
- Assumed rent, all units
- $9,800/mo
- Units
- 4
- Price per unit
- $437,500
- Est. annual NOI
- $58,800
- Expense assumption
- 50%
Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.
Run your own numbers
Adjust the assumptions to see cash flow and cash on cash return.
- Effective gross income
- $111,720
- Operating expenses
- $55,860
- Net operating income
- $55,860
- Annual debt service
- $104,785
- Annual cash flow
- -$48,925
- Cash on cash return
- -11.2%
- Down payment
- $437,500
Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.
Property details
- Type
- Quadruplex
- Bedrooms
- 7
- Bathrooms
- 6
- Building size
- 3,559 sqft
- Lot size
- 5,944 sqft
- Year built
- 1942
- Stories
- 2
- Garage spaces
- 4
- Cooling
- See Remarks
- Pool
- None
- View
- None
- Status
- Active
- Days on market
- 1
- MLS #
- 244725272
About this property
Prime Koreatown Covered Land Play & Value-Add Opportunity! This exceptional site features high-density LAR4 zoning with a TOC Tier 2 designation, unlocking massive density bonuses, increased FAR, and reduced parking requirements for a future luxury residential complex. Positioned within an official Qualified Opportunity Zone (QOZ), the property offers incoming investors substantial tax incentives and capital gains deferrals. Located in the highly desirable Wilshire Center/Koreatown submarket (90004), 148 S Normandie Ave is situated on a prime ±5,944 sq. ft. corner lot, perfectly pairing stable immediate cash flow with massive development upside. Operational flexibility with the current tenants are on Month-to-Month leases, delivering a frictionless path for a developer looking to break ground or a value-add buyer looking to immediately capture true market-rate stabilization. Owner overhead is kept low, as all units are individually metered for electricity and gas, strictly limiting utility exposure. Do not miss this secure, low-overhead wealth preservation vehicle in one of Los Angeles' most supply-constrained rental markets!
Location
148 S Normandie Avenue
Los Angeles, Los Angeles, CA, 90004