tomo logo

$850,000

Beds
5
sq ft
2,208

4815 S Normandie Ave, Los Angeles, CA 90037

4815 S Normandie Ave

Los Angeles, CA 90037

  • 123 days on market
ALL UNITS WILL BE DELIVERED AS VACANT. This 3 UNIT INCOME PROPERTY has lots of potential with today's high yield CAP rate fantastic Zoning with C2 (Commercial) + Residential mixed use so the buyer may keep the property as it is with higher CAP rate or develop a Mixed Use Commercial and Residential Building. Currently the area is developing with new constructions. The house is Just 7-8 minutes to USC, Exposition Park, Swimming, Stadium. 10 -15 minutes to Downtown Los Angeles and Sofi Olympic Stadium! Current Owner input a lot of improvements on the property and UDU project (ongoing for approval, buyer verify the status) with a new Electric Meter. The roof is quite new, new Double Pane Windows, New Bathrooms and lots of improvements! This is a GEM and a MUST SEE PROPERTY!!! 2 RESIDENTIAL UNITS WITH A COMMERCIAL UNIT PROPERTY. BUYER MAY ADD UP 2 ADU units with 1,200 SQF or can make a development project with 14 unit apartment building.

Details

Property type

Est. home value

$640,708

Lot size

5,405 sq ft

Price per sq ft

$385

Year built

1953

HOA

No

Price History

08/29/2024
CLAW

CLAW #24394421

Price change
$850,000
+13.33%
05/21/2024
CLAW

CLAW #22198713

Removed
$750,000
-6.25%
05/20/2024
CLAW

CLAW #24394421

Listed
$800,000
+6.67%

Schools & Community

Neighborhood: 

South Los Angeles

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$760,812
Asking price
$850,000
Closing costs (~8% of asking)
-$68,000
Est. remaining loan balance
-$21,188
Cash to seller
$760,812

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

National Pacific Mtg

Loan start date

December 1997

Original loan amount

$87,935

Est. remaining balance

$21,188

Interest rate

7.21%

Loan type

FHA, 30 year

Seller

Eddy Rivas and Carlos Rivas

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 09/20/2024 at 9:30 PM

Listing updated: 08/29/2024 at 5:03 PM

Listed by: Thomas Yong Kim, Apple Tree Realty Phone #: (213) 465-4858

MLS: CLAW #24394421

CLAW logo

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