Active

4115 Normal Ave

Los Angeles CA, 90029

$5,400,000


$386.93 per sqft

Active

13,956 sqft

Residential

Built in 1988

***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

24-355999

MLS ID

February 7, 2024

Listed

February 16, 2024

Updated

Map

4115 Normal Ave
Los Angeles CA, 90029

Interior Features

Total Stories

2


Appliances

Garbage Disposal, Refrigerator, Range/Oven


Fireplace

No


Cooling

Yes


Cooling Description

Central


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.21 Acres

Other Property Details

Area Name

Silver Lake - Echo Park


Days on Market

8


Garage

No


Parking

Covered Parking


Parking Total

15


View

No


County

Los Angeles


Pool

No

Listed by with Marcus & Millichap
Listing Contact: 310-403-3325 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Stephen Parisi shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 2/16/2024

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