Closed

4115 Normal Avenue

Los Angeles CA, 90029

$4,720,000


$338.21 per sqft

Closed

24 Baths

13,956 sqft

Residential

Built in 1988

Listed by Matthew Ziegler with Marcus & Millichap 818-212-2700

***Excellent Assumable Debt - $2,700,000 loan, fixed 3.2% interest-only until April 2027*** We are pleased to present 4115 Normal Avenue, a 12-unit* value-add apartment building located in Silver Lake. The building was constructed in 1988 so it is not subject to LA City Rent Control (only subject to California State Rent Control). The building consists of (8) two bedroom/one bath units and (4) two bedroom/two bath units. Select units have been remodeled and feature vinyl wood flooring, recessed lighting, new windows, central heat/air-condition, washer/dryers, remodeled bathrooms and kitchens with new shaker cabinets, stone countertops and stainless-steel appliances (gas range oven, refrigerator, dishwasher, microwave). The property features gated entry, secured covered parking and a laundry facility and sits on a 9,299 square foot lot that is LARD 1.5 zoned.This is a great opportunity for an investor who is looking for a value-add property with a favorable unit mix located in an excellent rental submarket that is not subject to City of Los Angeles Rent Control. Existing ownership has been successful in achieving top of the market rents for renovated units. New ownership has an opportunity to realize remaining potential rental upside by continuing the current renovation program to unit interiors as existing tenants move out. 4115 Normal Avenue is located in trendy Silver Lake, which has long been one of the most sought-after rental submarkets in Los Angeles. The property boasts a Walk Score of 90 as it is just a half block from chic retail, restaurants, bars, cafes and coffee shops along Virgil Avenue. The property is also just a short drive to Koreatown, Hollywood, West Hollywood, Echo Park and Downtown Los Angeles. The property is conveniently located close to the 101 freeway and just 0.5 miles from the Vermont/Beverly Metro D Line Station offering a viable public transportation option for commuters headed to Downtown Los Angeles or North Hollywood. *Building is made up of 11-units and 1 ADU

24355999

MLS ID

February 7, 2024

Listed

May 9, 2024

Updated

Map

4115 Normal Avenue
Los Angeles CA, 90029

Interior Features

Total Stories

2


Total Bathrooms

24


Appliances

Disposal, Refrigerator


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.21 Acres

Other Property Details

Area Name

C21 - Silver Lake - Echo Park


Days on Market

33


Garage

No


Parking

Covered


Parking Total

15


View

No


County

Los Angeles


Pool

No


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

4/22/2024

Sold

$4,720,000

3/12/2024

Pending

Listing Contact: 818-212-2700 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/9/2024 at 3:03 PM UTC

 

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