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Normandie Luxury Apartments LLC Acquires 13-Unit Multifamily Property In Koreatown Los Angeles For $2.25M

Property Image
SOLD
$2,250,000
Brent Sprenkle
Alex Peterson

California

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MultiFamily
Sold 12/13/2024
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Property Image
SOLD

Normandie Luxury Apartments LLC Acquires 13-Unit Multifamily Property In Koreatown Los Angeles For $2.25M

234 South Normandie Avenue

See Similar Deals
MultiFamily
Sold 12/13/2024
Brent Sprenkle
Alex Peterson
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of Normandie Arms Apartments, a 13-unit multifamily property located at 234-238 South Normandie Avenue in Koreatown, Los Angeles. The sale price was $2,250,000, resulting in a price per unit of $173,077.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $2,250,000
  • Units: 13
  • Price Per Unit: $173,077
  • Buyer: Normandie Luxury Apartments LLC
  • Seller: 234 South Normandie LLC
  • Brokers: Alex Peterson & Brent Sprenkle - NorthMarq
  • Market: Los Angeles

Northmarq's El Segundo team, led by Brent Sprenkle and Alex Peterson, facilitated the transaction representing both the buyer and the seller. The buyer, Normandie Luxury Apartments LLC, is looking to utilize the site's accessory dwelling unit (ADU) potential as part of its investment strategy.

Players

Brent Sprenkle
NorthMarq
Brent Sprenkle
11 deals$112.5M volume(310) 470-4892
BROKER
Alex Peterson
NorthMarq
Alex Peterson
4 deals$25.5M volume(213) 248-7047
BROKER
Berkadia
Berkadia
BROKERAGE

Details

SOLD
IMAGE: Alex Peterson & Brent Sprenkle DATE: 12/13/2024 ADDRESS: 234-238 South Normandie Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Normandie Luxury Apartments LLC SELLER: 234 South Normandie LLC BROKERS: Alex Peterson & Brent Sprenkle (@Brent.Sprenkle) - NorthMarq (@NorthMarq) SALE PRICE: $2,250,000 UNITS: 13 ~ PPU: $173,077 NOTE: Northmarq’s El Segundo team, led by Brent Sprenkle and Alex Peterson, brokered the $2.25M sale of Normandie Arms Apartments, a 13-unit property in Koreatown, Los Angeles. The buyer, Normandie Luxury Apartments LLC, plans to leverage the site's ADU potential as part of its investment strategy.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$120,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77