3005 S Normandie Ave, Los Angeles, CA 90007

Property Overview

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3005 S Normandie Ave is an eight-unit multifamily investment located in the historic Adams–Normandie neighborhood of Los Angeles, just minutes from USC, Exposition Park, and Downtown LA. The property offers investors a compelling value-add opportunity with strong in-place income, significant rent upside, and multiple levers for NOI growth through unit renovations, parking income, and ancillary revenue streams.

Built in 1960, the 4,837-square-foot building is situated on a 6,600-square-foot LAR3-zoned lot and features a balanced mix of (6) one-bedroom/one-bath units and (2) two-bedroom/one-bath units. Current rents average $1,557 per month compared to market rents of approximately $1,958 per month, representing over 25% upside potential. With nine on-site parking spaces serving eight units, investors can further enhance cash flow through parking fees and utility bill-backs.

Financial performance is strong and scalable, with a 6.16% in-place cap rate projected to rise to 8.49% pro forma and cash-on-cash returns improving from 3.36% to 11.00%. As Los Angeles continues to invest in infrastructure ahead of the 2028 Olympic Games, the Adams–Normandie corridor is poised for continued appreciation, ensuring both durable income and long-term value growth.

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Key Property Details

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• Location: 3005 S Normandie Ave, Los Angeles, CA 90007
• Lot Size: 6,600 square feet
• Total Building Area: 4,837 square feet
• Units: 8 (6 × 1BR/1BA, 2 × 2BR/1BA)
• Zoning: LAR3
• Year Built: 1960
• Parking: 9 spaces
• Rent Control: Yes

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Investment Highlights

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• Attractive Value-Add Play: Offered at $1,500,000 (~$187K per unit / $310 per SF) with meaningful rent growth potential and favorable financing opportunities.
• Immediate Cash Flow: Delivers a 6.16% current cap rate with upside to 8.49% on pro forma as units turn and rents reach market levels.
• One Vacant Unit: Allows for immediate repositioning and rental adjustment to market rate without tenant relocation.
• Substantial Rent Upside: Several units are more than 200% below market rents, presenting a clear path to higher returns.
• Ancillary Income Potential: Nine parking spaces and options for RUBS or storage income provide additional NOI growth.
• Strong Tenant Demand: Prime location near USC, DTLA, and Exposition Park attracts stable renters and minimizes vacancy risk.
• Olympics-Driven Growth: Centrally positioned to benefit from citywide investments and rising demand ahead of the 2028 Los Angeles Olympics.
• Efficient Operations: Manageable size and layout support operational efficiency and long-term scalability for investors.

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Neighborhood and Accessibility

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Located in the heart of Adams–Normandie, 3005 S Normandie Ave offers tenants convenient access to USC, Downtown Los Angeles, and major employment and entertainment centers. The area’s strong rental demand is supported by walkability, public transit options including the Metro E Line, and proximity to the I-10 and I-110 freeways. With consistent student and professional tenant bases and infrastructure improvements tied to the 2028 Olympics, the neighborhood is positioned for continued rent growth and appreciation.

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Market Trends and Financial Potential

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• Current Occupancy: 7 of 8 units leased (1 vacant)
• Current Cap Rate: 6.16%
• Pro Forma Cap Rate: 8.49%
• Price Per Unit (PPU): $187,500
• Price Per SF (PPSF): $310.11
• Annual Gross Income (Current): $149,493
• Annual Gross Income (Pro Forma): $187,920
• Total Expenses (Pro Forma): ~$51,467
• Net Operating Income (Pro Forma): $127,366
• Loan-to-Value (Proposed): ~69% with 6.25% interest rate

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl

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