751 S NORMANDIE AVE

LOS ANGELES, CA, 90005

$9,250,000

$269 per ft²
$9,250,000
$269 per ft²
Active
Active
 - For Sale
beds
17 Beds
baths
48 Baths
carpenters-square
34,291 ft²
property_type
Multi-family
calendar
Built 1928
The Richelieu Apartments, in the heart of the Koreatown neighborhood of Los Angeles, is a 56-unit multifamily building built in 1928. The property is located at 751 S Normandie Avenue and is comprised of a high demand mix of 14 Bachelors, 33 studios, 6 one-bedroom/one-bath apartments, and 3 two-bedroom/one-bath apartments across +/-34,291 square feet of improvements on +/-10,659 square feet of land. The Richelieu Apartments is a 5-story elevator building constructed of brick and stone. Amenities include on-site laundry facilities, elevator, gated controlled access and door-to-door trash pickup.On the market for the first time in almost 30 years, the Richelieu Apartments are a virtual time capsule of 1920's style, ripe for repositioning and cosmetic updating to serve the upscale tenant base of the renewed Koreatown community in the heart of Los Angeles. The Richelieu Apartments are an ideal investment opportunity for all renovation-oriented buyers. New ownership has the opportunity to capture a higher-income tenant base and top-of-market rents with a nearly 30% upside (in rents) by extensively renovating the units as the units turn. Located in the heart of the Koreatown neighborhood, just south of Wilshire Boulevard, The Richelieu offers tenants access to major employment centers, and a broad range of entertainment and recreation opportunities accessible by a short walk or drive. With a "Walker's Paradise" Walk Score of 96, the Richelieu Apartments are a short walk (.3 mile) to the Wilshire/Vermont Purple Line Metro Station. Within a short driving distance is Downtown Los Angeles, Los Feliz, Miracle Mile, Hollywood, Silverlake and Glendale.
MLS® ID:
22-129201
Listed:
2/17/22
Updated:
7/3/22

Interior Features

Total Bedrooms
17
Total Bathrooms
48
Cooling
Wall/Window
Heating
Wall

Exterior/Building Features

Lot Size
10,659 ft² lot

Other Property Details

Garage
No
Parking
None
View
N
County
Los Angeles
Pool
No
Total Stories
5
Zoning
LAR5

 

Courtesy of Adam Zunder, Iconic Investments

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 7/3/22

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