$2,595,000
$300K PRICE DROP

Estimated payment $16,803/month

Total Views 5,064
8 Beds
8 Baths
5,467 Sq Ft
$475 Price per Sq Ft

Highlights

  • In Ground Pool
  • John Marshall Senior High Rated A
  • Laundry Facilities

About This Home

We are pleased to present the exclusive opportunity to acquire the Coral Reef Apartments, located at 1736 N Normandie Ave. The subject property is located just steps away from Hollywood Blvd and a short distance to the Hollywood/Western and Sunset/Vermont metro stations, ensuring a perpetually large pool of prospective tenants and rentability in the future. The property contains 8 fully remodeled one bedroom units, landlord-owned onsite laundry, a large pool with a barbecue area for tenants to enjoy, and covered parking. In addition, the Coral Reef Apartments boast great tenants in place with completed seismic retrofitting for the tuck under parking, reducing future capital expenditures and creating long-term investment stability. Additional value may be added through re-envisioning the pool and BBQ common areas, or the potential of adding an ADU. Located in one of LA's best neighborhoods, the Coral Reef Apartments are a great turn-key opportunity for a new buyer ready to step into larger buildings, or the discerning investor seeking out low-maintenance properties for their growing portfolio. Contact listing agents for more info.

Listing Agent

Tadeh Minassian

Signature Fine Estates, Inc. License #01960390 Listed on: 03/03/2025

Co-Listing Agent

Estepan Kechichian

License #01949970

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 6,906 Sq Ft Lot

Interior Spaces

  • 5,467 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Parking

  • 6 Parking Spaces
  • Carport

Pool

  • In Ground Pool
  • Fence Around Pool

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window

Community Details

  • 8 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 5589-037-009

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 5467
  • Lot Acreage: 0.1585
  • Stories: 2
  • Year Built: 1957
  • Number Of Photos: 22
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Laundry: Community
  • Laundry Equipment: Own
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 474.67

Exterior Features

  • Other Structures: None
  • Pool Description: In Ground, Fenced
  • Pool: Yes

Garage/Parking

  • Parking Garage: Carport
  • Total Parking: 6

Utilities

  • Cooling: Window Unit(s)
  • Heating: Wall Electric

Lot Info

  • Assessed Improvement Percent: 35.01
  • Assessed Improvement Value: 666054
  • Assessed Land Percent: 64.99
  • Assessed Land Value: 1236680
  • Total Assessed Value: 1902734
  • Assessor Parcel Number: 5589-037-009
  • Lot Size Area: 6906

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 14.50
  • Number Of Units: 8
  • Total Annual Expense: 69671
  • Type Of Units: Residential
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: No

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/02/2025 04/02/25 Price Changed $2,595,000 -3.7% $475 / Sq Ft
03/10/2025 03/10/25 Price Changed $2,695,000 -6.9% $493 / Sq Ft
03/03/2025 03/03/25 For Sale $2,895,000 -- $530 / Sq Ft
Source: The MLS

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Source: The MLS

MLS Number: 25505549

The MLS