541 Normandie Ave Immeuble residentiel 12 lots 1 718 691 € (143 224 €/Lot) Taux de capitalisation 3,73 % Los Angeles, CA 90005

MOST UPSIDE BUILDING IN ALL KOREATOWN!!!
Located at the intersection of Normandie and 6th, just one block from
the iconic Quarters KBBQ, this 12-unit apartment building offers an
exceptional opportunity to acquire a value-add asset in one of Los
Angeles’ most vibrant and high-demand rental markets. The property
consists of one bachelor, three singles, and eight one-bedroom units—
only one of which has been renovated in the past 30 years, (light
touch up in others) making it a perfect candidate for a comprehensive
renovation strategy. This provides a clear path to capturing substantial
upside through targeted unit upgrades and improved management.
The building also features a garage at the front, which could be
considered for future ADU conversion, as well as a rear parking area and
an on-site laundry room with owner-owned washer/dryers, providing
additional income. The property benefits from a charming side garden
that is well-maintained by tenants, enhancing the building’s curb appeal
and offering a welcoming environment.
Despite a current in-place cap rate of just 3.73%, the property’s pro
forma cap rate exceeds 10.5%, even under conservative underwriting
assumptions. This significant upside potential makes it a rare find in
today’s market, with the ability to create substantial value and unlock
a high return on investment. With the location, strong rental demand,
and numerous avenues for growth, this Koreatown asset offers a rare
opportunity to reposition and capitalize on long-term appreciation and
income growth.