Villas Normandie, located at 229 South Normandie Avenue, is a 21-unit apartment building in the Koreatown area of Los Angeles that, being built in 1988, is exempt from the rent stabilization ordinance (not subject to rent control). The property is a three-story, walk-up courtyard building over a level of parking. The property features a unit mix of one studio apartment, four units that are one-bedrooms with one-bathroom, 14 units that are two-bedrooms with one-bathroom, and two units that are two-bedrooms with two-bathrooms. The property is individually metered for gas and electricity. The studio unit is non-conforming, and the certificate of occupancy is for 20 units. With a Walk Score of 89, the property is situated steps from 3rd Street with multiple retail and dining options. The Seller recently completed a major renovation of the property. Most units were upgraded and the exterior, including the courtyard, was remodeled.
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