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

315 N Normandie Avenue, Los Angeles, California 90004 home-pic-0
ACTIVE$2,349,000
315 N Normandie Avenue, Los Angeles, California 90004
0Bed
0Bath
3,908Sqft
4,500Lot
Year Built
2023
Close
-
List price
$2.35M
Original List price
$2.35M
Price/Sqft
$601
HOA
-
Days on market
-
Sold On
-
MLS number
OC24239457
Home ConditionExcellent
Features
Excellent View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.35M(67th), sqft - 3908(67th), beds - undefined(50th), baths - undefined(50th).

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 less than a year old. The images confirm a modern design aesthetic with brand new kitchen appliances, contemporary white cabinetry, quartz countertops, and stylish gold-tone fixtures. Hardwood flooring is consistent throughout the living areas and bedrooms, complemented by recessed lighting. All components are new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' condition criteria.
Pros & Cons

Pros

New Construction & Modern Design: Built in 2023 with modern design, new kitchen appliances, and contemporary bathroom upgrades, minimizing immediate maintenance costs and appealing to modern tenants.
Exceptional Investment Potential: As a newly built triplex with no rent control and no HOA, it offers low holding costs and significant cap rate potential in a high-demand Los Angeles market, making it an extraordinary opportunity for investors.
High-Density Income Configuration: The unique floor plan features 13 bedrooms and 12 bathrooms across three units, including two 5-bedroom/5-bathroom units, designed to maximize rental income potential.
Individualized Unit Amenities & Utilities: Each unit benefits from two assigned parking spaces, separate electricity and gas meters, and in-unit washer and dryer, enhancing tenant convenience and simplifying landlord management.
Prime Urban Location & Views: Located in the heart of East Hollywood/Koreatown, offering proximity to retail, restaurants, transportation, and highways, complemented by panoramic views of the Hollywood sign and LA downtown skyline.

Cons

Shared Water Meter: Two of the three units share a main water meter, which could lead to complexities in billing or potential disputes among tenants regarding water usage.
Niche Tenant Market: The high-density 5-bedroom/5-bathroom unit configurations, while income-maximizing, may appeal to a more specific tenant demographic (e.g., co-living, student housing) rather than traditional families, potentially narrowing the tenant pool.
Limited Private Outdoor Space: With 3,908 sqft of living space on a 4,500 sqft lot and 6 assigned parking spaces, the property likely offers minimal private outdoor space for tenants, despite a fenced yard.

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