3005 Normandie Ave, Los Angeles, CA 90007

3005 S Normandie Ave is a fully renovated 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 organic lease resets, parking income, and ancillary revenue streams.

Built in 1960 and comprehensively renovated in 2025, 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 $1,958—a 63.94% portfolio-wide gap. One unit is vacant, providing immediate lease-up at $1,845 market rent. 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 7.50% in-place cap rate projected to rise to 10.26% pro forma—a 276-basis-point improvement through operational execution alone. At the new basis, the deal offers stronger day-one yield with meaningful upside as rents are brought to market. 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.