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  • DESCRIPTION

    Built in 1923, this twelve-unit bungalow style property is located on a large lot totaling 15,501 SF in the Virgil Village neighborhood, on the border of East Hollywood and Silver Lake. The three buildings feature eightbungalow-style one-bedroom units as well as a four-unit structure in the rear of the lot. This offering presents an investor the opportunity to capture the 38% rental upside through renovations when the units turn, as well as being located in the newly established Opportunity Zone.Many of the units have been recently renovated with new bathrooms, kitchens with quartz counter tops and stainless steel appliances, new flooring, and design-friendly lighting. Each unit has a private home feel, including private outdoor space, secure entry, and a landscaped courtyard for tenants to enjoy. All units have dual entrances and all renovated units have their own washer and dryer inside the unit.

    KEY DETAILS
    • Price:
    • $3,850,000
    • Bedrooms:
    • 1
    • Square Footage:
    • 7,148
    • Acreage:
    • 0.36
    • Year Built:
    • 1923
    • MLS #:
    • 18414224
    • Street Address:
    • 4140 Normal Ave
    • City:
    • Los Angeles
    • State:
    • CA
    • Postal Code:
    • 90029
    • County:
    • Los Angeles
    • Area:
    • Silver Lake
    • Listing Status:
    • For Sale - Active

    Building

    • Number Of Units:
    • 12
    • Square Footage Source:
    • Public Records
    • Total # Of Buildings:
    • 3
    • Total Building Square Footage:
    • 7148
    • Unit1 Bedrooms:
    • 1
    • Year Built:
    • 1923

    Business

    • Adjusted Gross Income:
    • 243300.00
    • Net Operating Income:
    • 159993.00

    Land

    • Approximate Lot Size Range Source:
    • Public Records
    • Conforms To Zoning:
    • Rd1.5-1xl
    • Lot Square Footage:
    • 15501

    Listing

    • Days On Market:
    • 51

    Money

    • Price Per Square Foot:
    • 538.61

    Structures

    • Parking Description:
    • Uncovered

    Systems

    • Appliances:
    • Dishwasher
    • Cooling System:
    • Wall Unit(s)
    • Heating:
    • Wall Heater

    Source

    • Listing Provided By Neema Ahadian of Marcus & Millichap (DRE#: 01346750)

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    NOTES

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