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    1228 Normandie Ave Los Angeles, CA 90006

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    1228 Normandie Ave Los Angeles, CA 90006

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    • Commercial real estate
    • 0.41 lot acres
    For Sale
    $2,400,000
    View Listing →
    Development Opportunity Near Koreatown For Sale
    $2,400,000

    Development Opportunity Near Koreatown

    Assemblage of three parcels totaling 0.41 acres in Los Angeles.

    1228, 1234, 1238 Normandie Avenue, Los Angeles, CA 90006
    View Listing
    Property ID
    US09-7680978
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1228 Normandie Ave

    Lot size
    0.41 lot acres
    Property type
    Commercial real estate

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

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

    Comparable in this City

    • New
      $1,149,000
      0.14 Acres

      Normandie Avenue Duplex Opportunity

      Duplex in prime location with redevelopment potential.
      1029 S Normandie Ave, Los Angeles, CA 90006
      View Details
    • $1,580,000
      0.14 Acres

      Koreatown Duplex with Development Potential

      Spanish duplex in Koreatown with LAR4 zoning and TOC Tier 3.
      1046 S Kenmore Ave, Los Angeles, CA 90006
      View Details
    • New
      $1,556,000
      0.14 Acres

      Multi-Family Income Properties in Los Angeles

      Two adjacent income properties totaling 11 units near Downtown Los Angeles.
      964 S New Hampshire Ave, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      Ready-to-Issue Affordable Housing Development

      Shovel-ready, 90-unit affordable housing development opportunity in Los Angeles.
      2716 James M Wood Blvd, Los Angeles, CA 90006
      View Details
    • $949,000
      2,858 SF

      Los Angeles Investment Property Quadruplex

      Five-unit investment property in Pico-Union with development potential.
      1321 Fedora St, Los Angeles, CA 90006
      View Details
    • $1,195,000
      4,230 SF

      Quadruplex With Upside Potential

      Quadruplex With Upside Potential
      3014 W 12th St, Los Angeles, CA 90006
      View Details

    Similar Nearby for Sale

    • New
      $1,149,000
      0.14 Acres

      Normandie Avenue Duplex Opportunity

      Duplex in prime location with redevelopment potential.
      1029 S Normandie Ave, Los Angeles, CA 90006
      View Details
    • $1,580,000
      0.14 Acres

      Koreatown Duplex with Development Potential

      Spanish duplex in Koreatown with LAR4 zoning and TOC Tier 3.
      1046 S Kenmore Ave, Los Angeles, CA 90006
      View Details
    • New
      $1,556,000
      0.14 Acres

      Multi-Family Income Properties in Los Angeles

      Two adjacent income properties totaling 11 units near Downtown Los Angeles.
      964 S New Hampshire Ave, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      Ready-to-Issue Affordable Housing Development

      Shovel-ready, 90-unit affordable housing development opportunity in Los Angeles.
      2716 James M Wood Blvd, Los Angeles, CA 90006
      View Details
    • $949,000
      2,858 SF

      Los Angeles Investment Property Quadruplex

      Five-unit investment property in Pico-Union with development potential.
      1321 Fedora St, Los Angeles, CA 90006
      View Details
    • $1,195,000
      4,230 SF

      Quadruplex With Upside Potential

      Quadruplex With Upside Potential
      3014 W 12th St, Los Angeles, CA 90006
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      DTLA M-3 Lot Available

      Commercial land ideal for pallet yard or recycling.
      2186 E 11Th St, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      High Visibility Olympic Blvd Location

      Prime location on Olympic Blvd, near Downtown L.A.
      2300 W Olympic Blvd, Los Angeles, CA 90006
      View Details
    • Contact for pricing
      47,207 SF

      Warehouse with Freeway Access

      Warehouse with immediate access to major freeways and secure yard.
      2303 E 11Th St, Los Angeles, CA 90006
      View Details
    • $1.00 SF/Yr

      Koreatown Retail or Medical Space

      High-traffic corner location ideal for retail or medical office.
      991 S Vermont, Los Angeles, CA 90006
      View Details
    • $1.95 SF/Yr
      12,126 SF

      Koreatown Retail/Medical Office Space

      High-traffic corner location ideal for retail or medical office.
      991 S Vermont, Los Angeles, CA 90006
      View Details
    • $1.35 SF/Yr
      12,000 SF

      12,000 SF Renovated Pico/Union Industrial Facility For Lease

      12,000 SF Renovated Pico/Union Industrial Facility For Lease
      1810 W Pico Blvd, Los Angeles, CA 90006
      View Details
    View Listing
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    Los Angeles, CA 90006
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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