854 S Normandie Avenue is an attractive development opportunity for a developer looking to build a new multi-family project in a well established apartment market with good demographics that are becoming stronger. The property allows for up to 90 affordable housing units by using AB 2334 state law which provide multiple bonus incentives for a 100% affordable housing project. Preliminary plans have been prepared for 90 affordable housing units using modular construction, which can reduce construction timelines by approximately 50%. It's in an excellent Koreatown location just south of Wilshire Boulevard, nearby to abundant amenities. and is within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line at Wilshire/Western and Wilshire/Normandie
Property Details
Property Features
Listing Office:
Office Name: Newmark Residential
Office Phone: (310) 528-5565
Listing Agent: David Ghermezian
Exterior Features
Exterior Information:
View: None
Lot Features
Lot Information:
Lot Size: 0.30 Acres
Other
Directions Information:
Directions: 854 S Normandie Avenue has an ideal location in the Koreatownmarket for a new multi-family development: adjacent to majorcommercial thoroughfares, near Metro Subway lines, good access tomain employment centers, and a part of well established residentialneighborhood with good demographics and abundance of amenities.
Price Information
Listing Price Info
Price Summary:
List Price: $4,650,000
Tax Information:
Annual Amount: $39,413
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $3.6M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24447547
Listing Office:
Office Name: Newmark Residential
Office Phone: (310) 528-5565
Listing Agent: David Ghermezian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/15/2024, 8:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jun 26, 2017
Jun 26, 2017Home Sold
$3,000,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$39,413
$3,216,604
2020
$38,254
$3,183,623
2019
$37,917
$3,121,200
2018
$3,373
$3,060,000
2017
$3,373
$176,003
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
RFK Community Schools - Ambassador School of Global Education
3201 W 8th St
Distance between this listing and this school0.20 miles
Public District Grades KG-5
4
/10
Hobart Boulevard Elementary School
980 S Hobart Blvd
Distance between this listing and this school0.36 miles
Public District Grades KG-5
4
/10
Los Angeles Elementary
1211 S Hobart Blvd
Distance between this listing and this school0.63 miles
Public District Grades KG-5
Nearby Schools
2
/10
Monsenor Oscar Romero Charter Middle School
2670 W 11th St
Distance between this listing and this school0.50 miles
Public Charter Grades 6-8
4
/10
Berendo Middle School
1157 S Berendo St
Distance between this listing and this school0.56 miles
Public District Grades 6-8
3
/10
Young Oak Kim Academy
615 Shatto Pl
Distance between this listing and this school0.72 miles
Public District Grades 6-8
Nearby Schools
4
/10
RFK Community Schools - New Open World Academy
3201 W 8th St
Distance between this listing and this school0.20 miles
Public District Grades KG-12
5
/10
RFK Community Schools - UCLA Community School
700 S Mariposa Ave
Distance between this listing and this school0.27 miles
Public District Grades KG-12
4
/10
RFK Community Schools - Ambassador School of Global Leadership
701 S Catalina St
Distance between this listing and this school0.30 miles
The neighbors living near this home have an average income of $34,107. The majority of Los Angeles, CA residents have income less than $35k annually. Most families are single, no kids. Most residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 854 S Normandie Ave
What is the listing price of this property?
The listing price of 854 S Normandie Ave property is $4,650,000.
What type of property is this?
The property 854 S Normandie Ave is land located in Los Angeles, California, 90005.
Is this property for sale now?
Active Listing: 854 S Normandie Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $39,413 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on June 26, 2017 for $3,000,000. (source: MLS/tax record).
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This home is located at 854 S Normandie Ave in Los Angeles, CA and zip code 90005 in the Central LA neighborhood. This home sits on a 0.30 acre lot. It has been listed on Rocket Homes since October 01, 2024 and is currently priced at $4,650,000.
While more than 598 listings in Los Angeles, CA in October 2024 were sold above asking price, there were more than 191 listings sold at asking price, and more than 753 were sold below. In October 2024 in Los Angeles, CA there were 11.2% more homes for sale than in September 2024. While the average time on the market in October 2024 was 38 days, the median list price was $1,023,474.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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