315 N Normandie Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 3 bed, 2 bath

315 N Normandie Avenue, Los Angeles, California 90004 home-pic-0
ACTIVE$2,349,000
315 N Normandie Avenue, Los Angeles, California 90004
3Beds
2Baths
1,092Sqft
4,500Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
New Construction & Modern Amenities: Built in 2023, this newly constructed triplex features a modern design, new kitchen appliances, and contemporary bathroom upgrades, ensuring low immediate maintenance and high tenant appeal.
Top Cons:
Shared Water Meter: Two of the three units share a main water meter, which could lead to complexities in utility billing and potential disputes among tenants.

Compared to the nearby listings

Price:$2.35M vs avg $1.48M (+$869,000)67%
Size:1,092 sqft vs avg 2,773 sqft33%
Price/sqft:$2.2K vs avg $53467%

More Insights

Built in 2023 (2 years old).
Condition: This property was newly built in 2023, making it brand new. The description explicitly states 'MODERN design,' 'New kitchen appliances,' and 'Contemporary bathroom light upgrades.' The images confirm this, showcasing pristine, modern bathrooms with new fixtures, tiles, and vanities, as well as new-looking light wood-look flooring and recessed lighting throughout the living spaces. All components are new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
2023
Close
-
List price
$2.35M
Original List price
$2.35M
Price/Sqft
$2,151
HOA
-
Days on market
-
Sold On
-
MLS number
OC24240501
Home ConditionExcellent
Features
Excellent View: City Lights
Patio
ViewCity Lights

About this home

PRIME LOCATION charming 3-unit 2023 NEWLY built 3-story income property EXTRORDINARY opportunity for investors. Very very unique features with MODERN design and TWO ASSIGNED PARKING spaces for each unit. NO RENT CONTROL. NO HOA.Low holding cost with potential space for cap rate. The triplex comes with Living sf 3,908 sf, lot size 4,500 sf, 13 bedrooms, 12 baths, 6 parking spaces, and FENCE YARD. UNIQUE floor plan with TEN SUITES which are 2 units with 5 bedrooms 5 bathrooms that you cannot find any more! The first unit located on 1st floor with 3 bedrooms 2 bathrooms, and 2 front parking spaces. At the back there are 4 parking spaces for the rest two upstairs units. The second unit located on 2nd and 3rd floors at the front of the property with FIVE SUITES. The last unit is also located on 2nd and 3rd floors but at the back of the property with ANOTHER FIVE SUITES.Each unit has 2 assigned parking spaces, trash account, SEPARATED electricity meter,gas meter, as well as WASHER and DRYER.The downstairs unit has its own water meter, and the rest 2 units share with main water meter. Lots of natural lights in the open floor plan. Expansive windows with panoramic views of plam trees, the Hollywood sign, and LA downtown skyline. Kitchen central island. New kitchen appliances. Contemporary bathroom light upgrades. Located in the heart of the East Hollywood, Los Angeles, which is around Koreatown. Closed to retail plazas with lots of restaurants, shops, various transportation, entertainments, and highway access. Buyer to perform buyer’s own due diligence to verify all permits, SQFT, bedroom/bathroom count, school, and accuracy of all property related info.

Condition Rating
Excellent

This property was newly built in 2023, making it brand new. The description explicitly states 'MODERN design,' 'New kitchen appliances,' and 'Contemporary bathroom light upgrades.' The images confirm this, showcasing pristine, modern bathrooms with new fixtures, tiles, and vanities, as well as new-looking light wood-look flooring and recessed lighting throughout the living spaces. All components are new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

New Construction & Modern Amenities: Built in 2023, this newly constructed triplex features a modern design, new kitchen appliances, and contemporary bathroom upgrades, ensuring low immediate maintenance and high tenant appeal.
Exceptional Investment Opportunity: Positioned as an income property with no rent control, no HOA, and low holding costs, it offers an extraordinary opportunity for investors seeking high cap rate potential in a desirable market.
High-Density Income Potential: The unique floor plan includes 13 bedrooms and 12 bathrooms across three units, notably two units with five suites each, maximizing rental income potential for co-living or multi-tenant arrangements.
Prime & Convenient Location: Located in the heart of East Hollywood, near Koreatown, the property boasts a prime location with easy access to retail plazas, diverse restaurants, shops, transportation, entertainment, and highway access.
Tenant-Friendly Unit Features: Each unit benefits from two assigned parking spaces, separate electricity and gas meters, in-unit washer and dryer, and expansive windows offering panoramic views of palm trees, the Hollywood sign, and the LA downtown skyline.

Cons

Shared Water Meter: Two of the three units share a main water meter, which could lead to complexities in utility billing and potential disputes among tenants.
Niche Market for High-Density Units: The unique configuration of two 5-bedroom, 5-bathroom units may cater to a specific co-living or student housing market, potentially narrowing the pool of traditional renters.
Limited Private Outdoor Space: With a living area of 3,908 sqft on a 4,500 sqft lot and six parking spaces, the property likely offers minimal private outdoor space per unit, which could be a drawback for some tenants.

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