NOT LISTED FOR SALE

3000 S Normandie Ave Los Angeles, CA 90007

Adams-Normandie Neighborhood
28 Beds
28 Baths
8,400 Sq Ft
9,679 Sq Ft Lot

Last Sold December 15, 2021

Last sale price $6,000,000 $714 Per Sq Ft

46 Days on Market

About This Home

As of December 2021

We are pleased to offer the opportunity to acquire this turnkey eight (8) unit, twenty-eight (28) bedroom + twenty-eight (28) bathroom Student Housing Master Lease investment opportunity, located in the DPS Patrol Zone, and walking distance to the University of Southern California (USC).The subject property was completely updated and remodeled in 2019, and features brand new hardwood floors, updated copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, wall-mounted flat screen televisions, and new in-unit washer & dryers. The property is approximately 8,400 rentable square feet on a 9,679 square foot lot and is comprised of two (2) separate structures, with a unit mix consisting of four (4) 3-bedroom + 3-bathroom units, and four (4) 4-bedroom + 4-bathroom units. The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk master lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently master leased to a reputable Property Management company until July 31, 2025, and currently making $392,160 per year with annual 3% rent increases. With the Master lease in place, there are minimal landlord responsibilities. The owner only pays for taxes and insurance, and everything else is taken care of by the Management company.

Last Agent to Sell the Property

Davis Saadian

Keller Williams Hollywood Hills License #01921748 Listed on: 08/12/2021

Keller Williams Hollywood Hills

Co-Listed By

Adam Shamooelian

Keller Williams Beverly Hills License #02116849

Last Buyer's Agent

Anahit Saroyan

License #01389989

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 9,679 Sq Ft Lot

Interior Spaces

  • 8,400 Sq Ft Home
  • 2-Story Property
  • Wood Flooring

Kitchen

  • Oven or Range
  • Recirculated Exhaust Fan
  • Microwave
  • Freezer
  • Ice Maker
  • Dishwasher
  • Trash Compactor
  • Disposal

Bedrooms and Bathrooms

  • 28 Bedrooms
  • 28 Bathrooms

Laundry

  • Dryer
  • Washer

Parking

  • 8 Parking Spaces
  • Assigned Parking

Community Details

  • 2 Buildings
  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5040-001-014

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 8400
  • Lot Acreage: 0.2222
  • Stories: 2
  • Year Built: 1924
  • Number Of Photos: 11
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Hardwood
  • Bedrooms: 28
  • Total Bathrooms: 28.00
  • Equipment: Dishwasher, Freezer, Garbage Disposal, Ice Maker, Microwave, Range/Oven, Recirculated Exhaust Fan, Refrigerator, Trash Compactor, Washer, Dryer
  • Price Per S Q F T: 726.19

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 8

Utilities

  • Cooling: Air Conditioning
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 44.19
  • Assessed Improvement Value: 906310
  • Assessed Land Percent: 55.81
  • Assessed Land Value: 1144440
  • Total Assessed Value: 2050750
  • Assessor Parcel Number: 5040-001-014
  • Lot Size Area: 9679

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 15.20
  • Number Of Units: 8
  • Total Annual Expense: 86080
  • Type Of Units: Apartments
  • Vacancy Rate: 0%

Range of Values:

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Average Value
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List Price
Sold Price
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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
12/15/2021 12/15/21 Sold $6,000,000 -1.6% $714 / Sq Ft
09/27/2021 09/27/21 Pending -- -- --
08/12/2021 08/12/21 For Sale $6,100,000 +225.3% $726 / Sq Ft
04/20/2018 04/20/18 Sold $1,875,000 -6.0% $223 / Sq Ft
04/09/2018 04/09/18 Pending -- -- --
11/20/2017 11/20/17 For Sale $1,995,000 +58.3% $238 / Sq Ft
05/20/2016 05/20/16 Sold $1,260,000 +0.8% $150 / Sq Ft
04/01/2016 04/01/16 Pending -- -- --
02/18/2016 02/18/16 For Sale $1,250,000 -- $149 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Davis Saadian

    Seller's Agent in 2021

    Davis Saadian

    Keller Williams Hollywood Hills

    (310) 402-8958

    17 in this area

    79 Total Sales

    Davis Saadian
    Section Image
  • Adam Shamooelian

    Seller Co-Listing Agent in 2021

    Adam Shamooelian

    Keller Williams Beverly Hills

    (310) 432-6400

    10 in this area

    47 Total Sales

    Adam Shamooelian
    Section Image

  • A

    Buyer's Agent in 2021

    Anahit Saroyan

  • Iman Eshaghyan

    Seller's Agent in 2018

    Iman Eshaghyan

    Coldwell Banker Realty

    (310) 600-8209

    25 Total Sales

    Iman Eshaghyan
    Section Image

  • D

    Seller's Agent in 2016

    Don Ivone

    California R.E.Services

    Section Image

  • D

    Seller Co-Listing Agent in 2016

    Deb Ivone

    California R.E.Services

    (818) 378-7759

    22 Total Sales

    Deb Ivone
    Section Image
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Map

Source: The MLS

MLS Number: 21-771994

The MLS
California Los Angeles County Los Angeles 90007 Adams-Normandie

3000 S Normandie Ave, Los Angeles, CA

This home is located at 3000 S Normandie Ave, Los Angeles, CA 90007 since 12 August 2021. This property was built in 1924. 3000 S Normandie Ave is a home located in Los Angeles County with nearby schools including Vermont Avenue Elementary School, Manual Arts Senior High School, and Stem Preparatory Academy.

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