Northmarq brokers $2.25M sale of Los Angeles low-rise apartments

LOS ANGELES (Dec. 10, 2024) — Northmarq’s El Segundo, California Multifamily Investment Sales team of Brent Sprenkle and Alex Peterson successfully brokered the sale of Normandie Arms Apartments, a 13-unit multifamily community in Los Angeles. Located in Koreatown at 234-238 S. Normandie Avenue, the low-rise apartments offer studio and one-bedroom apartment homes near Downtown Los Angeles and Hollywood.  

Northmarq represented the seller, 234 South Normandie LLC. The buyer, Normandie Luxury Apartments LLC, purchased the property for $2.25 million.

“The property was sold at a very low cost-per-unit and had excellent potential to convert the existing carport structure into an ADU which fit well into the buyer’s business plan,” said Sprenkle.

Built in 1954, Normandie Arms Apartments is a two-story wood frame and stucco structure with on-site parking and laundry facilities. The property is just one mile from the 101 Freeway and S. Western Avenue, providing residents with a short commute to prominent employers such as AECOM, Netflix and DreamWorks Animation in Metro Los Angeles. The 13-unit multifamily community is also conveniently located near shopping and dining, with over 330,000 square feet of retail space just 3.5 miles from the property. In addition, the community of Koreatown boasts a vibrant neighborhood with hidden gems, bars and eateries.