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    1228 Normandie Ave Los Angeles, CA 90006

    Sponsored
    For Sale
    $2,800,000

    0.4 Acres, R4-1VL Zoning, $2.8M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional 0.407-acre land parcel in Los Angeles, CA (90006), presents a prime development opportunity. Located at 1228 Normandie Ave, near the intersection of W. Pico Blvd and S. Normandie Ave, this property boasts an R4-1VL zoning designation. Its strategic location offers easy access to major interstates I-10 and I-110, placing it within a heavily trafficked area. The site comprises three contiguous parcels within an Opportunity Zone, indicating potential for significant tax advantages. Previous plans envisioned a five-story, 75-unit multifamily residential building with 12 parking spaces, designed for 100% affordable housing. However, future owners have the flexibility to pursue alternative development plans, capitalizing on the area's rapid growth and transformation. The asking price is $2,800,000. This presents a unique chance to build in a vibrant, evolving Los Angeles neighborhood. The property's size and zoning make it ideal for a variety of residential projects, catering to the growing demand for housing in this dynamic area. The high traffic volume on W. Pico Blvd ensures excellent visibility and accessibility.

    Property Features for 1228 Normandie Ave

    General Information

    Property type
    Land
    Lot Size
    17,729 SF

    HighLights

    • Approved for a 75‑unit, 5‑story multifamily development.
    • High‑traffic location at W. Pico Blvd. and S. Normandie Ave.
    • Excellent freeway access via I‑10 and I‑110.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.30001180391
    Latitude
    34.048165919873

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    FAQs

    What type of property is this?
    Land - 0.4 Acres, R4-1VL Zoning, $2.8M
    Where is this land located?
    The property is located at 1228 Normandie Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: Approved for a 75-unit, 5-story multifamily development.; High-traffic location at W. Pico Blvd. and S. Normandie Ave.; Excellent freeway access via I-10 and I-110.
    Request Owner's contact information
    1228 Normandie Ave Los Angeles, CA 90006
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    Los Angeles, CA 90006
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1228 Normandie Ave Los Angeles, CA 90006
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