632 N Normandie Ave, Melrose Hill
6.20% Real Cap Rate | 2024 East Hollywood Fourplex
A fully leased fourplex offering an exceptional (and real) 6.20% cap rate & gross annual income of $290,784. Fully occupied by tenants under the PATH program, the property boasts consistent, reliable & subsidized rental income. With built-in annual rent increases, management already in place, and a multi-year contract with PATH, this asset is poised to deliver substantial income for years with essentially no work or hassle. Sit back, collect rent, & watch this centrally-located property appreciate in value!
The Important
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$3,490,000
Fourplex
Pre-Market
4
2024
6.20%
12.01
$290,784/Year
7,274 sqft
6,906 sqft
$479.79
$872,500
4 x 4b/4.5b
No
8 Exterior Spaces
Subsidized PATH Program, Exceptional 6.20% Cap Rate
The Highlights
Fully-leased at an exceptional 6.20% cap rate!
Boasts built-in annual rent increases, management already in place, and a multi-year contract with PATH.
Generates $290,784 in gross annual income.
Prime East Hollywood location walking distance to Melrose and minutes from the heart of Hollywood Four modern 4-bed, 4.5-bath townhome units.
Rented by the room under the PATH program for stable, subsidized income.
On-site manager ensures seamless operations, with management easily transferable to the buyer.
High-end finishes: designer tiles, stainless appliances, and modern cabinetry.
Separate utility meters for low operating expenses.
Efficient rent-by-the-room model optimized for maximum revenue.
Located in a high-demand rental market with consistent tenant interest.
Modern tri-level floorplans designed to attract long-term tenants.
Ideal for investors seeking a low-maintenance, high-yield opportunity.
The Neighborhood
<15-Minute Walk
Los Angeles City College, Sqirl, Courage Bagels, California Grill, Melody, KinKan LA, Bolita, Alma's Cider & Beer, Voodoo Vin, Maison Matho, The Peace Center Gym, El zarape Melrose, Bar Latino Tully's Coffee Big Mama's & Papa's Pizzeria, It’s Boba Time
<15-Minute Drive
Pine and Crane Silverlake, The RubyFruit, Millie's Café,
Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Silver Lake Coffeebar, 4100 Bar, La Colombe Coffee Roasters, Bowery Bungalow, The Virgil, Akbar
<$15 Uber Ride
Pine and Crane Silverlake, The RubyFruit, Millie's Café,
Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Silver Lake Coffeebar, 4100 Bar, La Colombe Coffee Roasters, Bowery Bungalow, The Virgil, Akbar
Contact
Lauren Cearley
213.302.8662
Property Presented By:
