17
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$3,000,000
Est. payment /mo
12 Beds
12 Baths
7,148 SqFt
Active
4140 Normal AVE Los Angeles, CA 90029
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,148 sqft
Price per Sqft $419
MLS Listing ID 26670223
Bedrooms 12
HOA Y/N No
Year Built 1923
Lot Size 0.356 Acres
Property Description
We are pleased to present4140 Normal Avenue, a rare 12-unit bungalow-style investment opportunity showcasing classic 1920s Hollywood charm located between Virgil Ave and N Hoover St. The property sits on an expansive 15,501-square-foot lot and features eight spacious one-bedroom bungalow units along with a two-story structure containing four additional one-bedroom units. The gated entry and garden-style courtyard layout enhance tenant appeal and create a private, community-oriented living environment. The majority of the units have been extensively renovated with stainless steel appliances, kitchen cabinetry, lighting fixtures, designer tile finishes, restored original hardwood flooring, in-unit washer/dryers, and ductless HVAC systems. With effective renovations and proven rents, the property provides strong existing cash flow at a 5.65% CAP rate and11.09 GRM on current income with an additional 28% rental upside as units turn. Ownership has also completed recent cap ex upgrades to the systems and common areas, including garage foundation upgrades, sewer line replacement, and new gate motor. The property features six parking spaces, two in the front and four private garages at the rear, generating $650 per month in additional income with further upside as one space is vacant. There is also potential to convert the garages toADU's (Buyer to verify). Additionally, there is RUBS in place to offset utility expenses. High Walk Score of 91, 4140 Normal Ave is a quarter mile from Los Angeles City College and minutes from the 101Freeway. Virgil Village sits at the crossroads of East Hollywood, SilverLake, and Los Feliz. The neighborhood has experienced significant demographic growth and retail expansion, attracting young professionals and families drawn to notable destinations such as Courage Bagels, Melody, Sqirl, Jewel, Budonoki, The Black Cat, and Virgil Cafe contributing to strong tenant demand and sustained rental growth in the immediate area.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LARD1.5
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Detached Carport
Total Parking Spaces 6
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5539013032
Special Listing Condition Standard
Listed by Neema Ahadian Marcus & Millichap #01346750
NEARBY SCHOOL & BUSINESS
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