148 S Normandie Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 7 bed, 6 bath
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Los Angeles, California 90004
This High-Potential Investment Opportunity is a Residential Income Asset listed at $1,750,000, positioned well below the $1,823,442 Fair Market Value by 4%. This valuation gap provides $73,442 in Instant Equity. Featuring LAR4 Zoning and TOC Tier 2 status, the property offers significant density bonuses for future development. With a Condition Rating of 5, the structure serves as a prime "covered land play" for Buy-and-Hold Investors or Real Estate Developers seeking to capitalize on the Qualified Opportunity Zone tax incentives.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 148 S Normandie Avenue Subject | $1,750,000* List Price | 7 | 6 | 3,559 | $512 | - |
A 310 N Kenmore Avenue Active | $1,399,000 List Price | 0 | 0 | 2,496 | $560 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1942 (80+ years old) with no evidence of major renovations. The presence of window AC units indicates a lack of modern central HVAC systems, and the listing explicitly markets the property as a 'Covered Land Play' and 'Value-Add Opportunity' for future development, suggesting the current structure requires a total rehab to meet modern standards.
The LAR4 zoning combined with TOC Tier 2 designation provides a massive density bonus and reduced parking requirements, making it an ideal site for a future luxury residential complex.
Situated in a Qualified Opportunity Zone (QOZ), the property offers investors substantial tax incentives and capital gains deferrals, significantly enhancing the long-term return on investment.
With month-to-month leases and individually metered utilities, the property offers a frictionless path for redevelopment or immediate market-rate stabilization with minimal owner expenses.
The existing structure dates back to 1942, which may necessitate costly repairs or significant modernization if the buyer chooses to maintain the current residential income use rather than redeveloping.
The property lacks scenic views and modern architectural appeal, as its primary value is derived from its 'covered land play' status rather than the quality of the current physical improvements.
Prime Koreatown Covered Land Play & Value-Add Opportunity! This exceptional site features high-density LAR4 zoning with a TOC Tier 2 designation, unlocking massive density bonuses, increased FAR, and reduced parking requirements for a future luxury residential complex. Positioned within an official Qualified Opportunity Zone (QOZ), the property offers incoming investors substantial tax incentives and capital gains deferrals. Located in the highly desirable Wilshire Center/Koreatown submarket (90004), 148 S Normandie Ave is situated on a prime ±5,944 sq. ft. corner lot, perfectly pairing stable immediate cash flow with massive development upside. Operational flexibility with the current tenants are on Month-to-Month leases, delivering a frictionless path for a developer looking to break ground or a value-add buyer looking to immediately capture true market-rate stabilization. Owner overhead is kept low, as all units are individually metered for electricity and gas, strictly limiting utility exposure. Do not miss this secure, low-overhead wealth preservation vehicle in one of Los Angeles' most supply-constrained rental markets!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 5.0 |
| Baths | 6.0 | 3.0 |
| Square foot | 3,559 | 2,250 |
| Lot Size | 5,944 | 5,864 |
| Price | $1.75M | $826.7K |
| Price per sq ft | $492 | $395 |
| Built year | 1942 | 1925 |
| HOA | $0 | $0 |
| Days on market | 12 | 83 |
Jul 10, 2026
$1,750,000
Initial Listing
Dec 29, 2021
$1,533,000
Public Record