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695 S Norton Ave

Los Angeles, CA 90005
  • $3,650,000
  • STATUS: Active
  • ON SITE: 61 Days
  • MLS #: 21-790424
UPDATED: 39 min ago
$3,650,000
  • 18
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,647
    SQFT
  • $313
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Description

We are pleased to present the opportunity to acquire 695 S. Norton Avenue, a 9-unit multifamily investment property located in the heart of Wilshire Park, a prime rental market in a Mid-Wilshire neighborhood that is adjacent to Koreatown.Built in 1965, the property offers nearly 11,650 square feet of living space across a renter friendly unit mix featuring six (6) two-bedroom, two-bath units, two (2) two-bedroom, two-bath units with a den, and one (1) studio. The two-bedroom units feature spacious floorplans averaging approximately 1,325 feet each.The property sits on a 7,040 square foot lot and consists of one three- story structure above an on-grade, gated, and secure parking structure. The well-maintained, three-story building sits in a quiet neighborhood lined with mainly single-family homes. Along with on-site parking, the property also features an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants.The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity the opportunity to implement a systematic renovation program, focused on revenue generating improvements, to reposition the property among market leaders and increase rental income by approximately 25 percent.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T07:42:18. 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.
www.haciendagroupinc.com/homes/121967575
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695 S Norton Ave Los Angeles, CA 90005

  • Price: $3,650,000
  • Status: Active
  • On Site: 61 Days
  • Updated: 39 min ago
  • MLS #: 21-790424
18
Beds
0
Baths
0
½ Baths
0.16
Acres
11,647
SQFT
$313
$/SQFT
1965
Built
Neighborhood:
Hancock Park-Wilshire
County:
Los Angeles
Area:
Hancock Park-Wilshire
Property Description
We are pleased to present the opportunity to acquire 695 S. Norton Avenue, a 9-unit multifamily investment property located in the heart of Wilshire Park, a prime rental market in a Mid-Wilshire neighborhood that is adjacent to Koreatown.Built in 1965, the property offers nearly 11,650 square feet of living space across a renter friendly unit mix featuring six (6) two-bedroom, two-bath units, two (2) two-bedroom, two-bath units with a den, and one (1) studio. The two-bedroom units feature spacious floorplans averaging approximately 1,325 feet each.The property sits on a 7,040 square foot lot and consists of one three- story structure above an on-grade, gated, and secure parking structure. The well-maintained, three-story building sits in a quiet neighborhood lined with mainly single-family homes. Along with on-site parking, the property also features an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants.The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity the opportunity to implement a systematic renovation program, focused on revenue generating improvements, to reposition the property among market leaders and increase rental income by approximately 25 percent.
Exterior Features

Lot Size Area 7041 Other Structures None Parking Garage Subterranean Total Parking 12

Interior Features

Baths Total 17.00 Cooling Air Conditioning Equipment Other Heating Other

Property Features

Assessed Total Value 430484 Gross Income 218340 Gross Operating Income 215340 Like Units1 8 Like Units2 1 Net Operating Income 122798.00 Number Of Buildings 1 Number Of Units 9 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 86172 Type Of Units Residential Year Built Source Assessor Zoning Lard2

Listing provided courtesy of Oscar Diaz DRE# of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T07:42:18. 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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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253