Seller's Agent in 2023
Jessie Rodriguez
Cal American Homes
(909) 559-0815
1 in this area
480 Total Sales
25424 Normandie Ave Harbor City, CA 90710
Harbor City Neighborhood
1
Bed
2
Baths
9,600
Sq Ft
0.28
Acres
Highlights
- 0.28 Acre Lot
- No HOA
- Laundry Room
- End Unit
- Balcony
- Rectangular Lot
About This Home
As of August 2023This excellent investment opportunity is conveniently located two blocks north of Kaiser South Bay medical center, with excellent access to PCH, the 110 freeway, and multiple transit lines. The property is well maintained, and offers 4 one-bedroom, one-bathroom units and 12 studio units, spread across two floors. Amenities include 18 on-site parking spaces (one per unit plus 2 guest spaces) behind a controlled-access gate. The building also houses two laundry rooms, with one washing machine conveying with the sale, and the remaining machines leased from Dadson. The new owner may further increase cash flow by cancelling the laundry service lease and buying privately owned machines, with an estimated additional monthly cash flow of $500-$800 per month. Rents have been routinely raised to remain on-pace with area expectations. Currently, the building has 93.75% occupancy, with only one vacant unit (#5 seen in photos). All rents were increased last on 6/1/2022, so an additional rent increase may be enacted at the new owner’s discretion. Where else in LA can you get almost a 4%+ cap rate for under $200k per door? Don't sleep on this opportunity.
Last Agent to Sell the Property
Cal American Homes License #01418054 Listed on: 07/22/2023
Property Details
Home Type
- Apartment
Year Built
- Built in 1986
Lot Details
- 0.28 Acre Lot
- No Common Walls
- End Unit
- Rectangular Lot
Home Design
- Entry on the 1st floor
- Flat Roof Shape
Interior Spaces
- 9,600 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Parking
- 18 Open Parking Spaces
- 18 Parking Spaces
- Parking Available
- Assigned Parking
Utilities
- Heating Available
- Natural Gas Connected
Additional Features
- Balcony
- Urban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 7 / 35
- Tax Tract Number 1589
- Assessor Parcel Number 7413010035
- $3,631 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 16 Units
Amenities
- Laundry Facilities
Building Details
- 15 Leased Units
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $220,916
- Net Operating Income $152,344
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/17/2023 08/17/23 | Sold | $2,950,000 | 0.0% | $307 / Sq Ft |
| 07/27/2023 07/27/23 | Off Market | $2,950,000 | -- | -- |
| 07/22/2023 07/22/23 | For Sale | $3,100,000 | -- | $323 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Jessie Rodriguez
-
Michelle Lombardo
Seller Co-Listing Agent in 2023
Michelle Lombardo
Cal American Homes
(909) 632-3294
1 in this area
44 Total Sales
-
Avinash Narang
Buyer's Agent in 2023
Avinash Narang
BRC Advisors BH
(818) 288-0697
3 in this area
59 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV23135301
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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