4801 Normandie Ave Los Angeles, CA 90037

This exceptional mixed-use property at 4801 S Normandie Ave, Los Angeles, CA 90037, presents a compelling value-add investment opportunity. The 5,640 square foot building, constructed in 1915 and situated on a 5,621 square foot lot, boasts five residential units: one 3-bedroom/2-bathroom, two 2-bedroom/2-bathroom, and one 3-bedroom/1-bathroom unit. A church occupies the ground floor on a month-to-month lease. The property includes 10 parking spaces within a gated lot, a significant advantage in this location. Currently operating at 80% occupancy, the property offers a substantial NOI of $85,559 and a pro-forma NOI of $133,738, reflecting a 5.19% current cap rate and a projected 8.11% pro-forma cap rate. Priced at $1,650,000 ($330,000 per unit, $292.55 per square foot, and $294 per square foot of land), this property is zoned LAC2 and offers significant upside potential. One vacant, fully renovated 2-bedroom/2-bathroom unit is ready for immediate occupancy. Preliminary plans for Accessory Dwelling Units (ADUs) are in place, further enhancing the property's long-term value. The property's proximity to USC and Exposition Park, coupled with its excellent walkability and access to public transportation, makes it an attractive investment in a rapidly growing area. A drive-by is recommended