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11700 S Normandie Ave, Sout...

Lili Gu Acquires Multifamily Property In South Los Angeles For $1.5M
SOLDMultiFamily

Lili Gu Acquires Multifamily Property In South Los Angeles For $1.5M

11700 S Normandie Ave, South Los Angeles, Los Angeles, CA, USA

$1,486,500

$407/SF

Building Size

3,648 SF

Asset Type

MultiFamily

Closing

Sep 16, 2021

AI

A multifamily property located at 11700 S. Normandie Ave. in South Los Angeles has been sold. The property consists of 6 units, with a total square footage of 3,648. The sale price for this transaction was $1,486,500, resulting in a price per square foot of $407. The buyer of the property is Lili Gu, while the sellers are James Gross and Patricia Gross. The deal was facilitated by brokers Filip Niculete, Glen Scher, and Jordan Epstein from the LAAA Team at Marcus & Millichap, along with Jared Yutronich from RE/MAX Estate Properties.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,486,500
  • Address: 11700 S. Normandie Ave.
  • Market: South Los Angeles

This sale marks one of the top 5 all-time sales in the 90044 zip code area of South Los Angeles. At $407 per square foot and $248,000 per unit, the property's price per unit and price per square foot are notable. With 6 units, this multifamily property offers an attractive investment opportunity in the South LA market.

Players

Filip Niculete

Marcus & Millichap

Broker

$788.2M

vol

198 deals

Broker

James Gross

Seller

$4M

vol

2 deals

Seller

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.67%

Cash-on-Cash

-3.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93