2804 South Norton Avenue

Los Angeles CA 90018

5280 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

2804 Norton Ave is a rare, high-yield 5-unit apartment located in a prime pocket of West Adams, offering strong in-place cash flow supported by highly desirable unit layouts. The property benefits from special financing available at 80% LTV with 30-year interest-only terms, creating an attractive leverage opportunity for investors. The asset delivers a 7.39% going-in cap rate and a 9.00% cash-on-cash return while trading at under $400 per square foot, a compelling basis for the submarket. Four of the five units are large, townhome-style residences, a layout that is extremely desirable to tenants and consistently drives strong rents with lower turnover. The propertys total average monthly rent exceeds $3,000 per unit, highlighting the durability of the in-place income. Additionally, four of the five units are leased under HACLA, providing government-guaranteed rents and long-term income stability. This is a turn-key opportunity to acquire stable cash flow, favorable long-term debt, and well positioned multifamily housing in one of Los Angeles most active neighborhoods.

Features

10 bedrooms

6 bathrooms

5280 sq. ft. lot size

Multi-Family

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