443 S Norton Avenue

Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 443 S Norton Avenue in Los Angeles, California. The subject property is located in a prime Hancock Park location south of 4th Street and east of S Rossmore Avenue.

Hancock Park is a historic and affluent neighborhood in Los Angeles that was developed in the 1920s by the Hancock family with profits earned from oil drilling. The residential community is centrally located in the city and is bound by Wilshire Boulevard, Melrose Avenue, Highland Avenue, and Rossmore Avenue. The neighborhood is known for its beautiful homes and tree-lined streets. It is also home to the prestigious and historic Wilshire Country Club golf course. Hancock Park is a favored enclave in Los Angeles that offers an upscale charm. It has a mix of single-family homes and multi-family units for sale that can be a great investment opportunity for multifamily investors. Several developments having been coming up in the vicinity in recent years. In 2023, 550 S Wilton Place broke ground on a new 29-unit multifamily development that will feature seven-stories and ground floor parking for 45 vehicles. Another new development in the area is 5001 Wilshire Boulevard, which will replace a shopping center on the corner of Highland Avenue. The project is a mixed-use structure with 242-units in an eight-story building.

Built in 1938, this property contains a streamlined unit mix of eight (8) one-bedroom / one-bathroom units on a huge 9,924 SF lot. The units are large, averaging nearly 1,000 SF each and boasting tons of character such as decorative fireplaces, stunning crown molding, arching hallways, and built in storage. The building itself has beautiful character with French Normandy architecture for great curb appeal and a serene center courtyard leading to parking at the rear. There are eight (8) carport parking spaces with an attached laundry room with potential to convert into multiple ADU unit(s). Tenants will adore living in this upscale community, within walking distance to Larchmont Village. Some of the nearby amenities include the Wilshire Country Club, trendy Koreatown restaurants, fashion boutiques, well-maintained gaming lounges, and many more retail destinations.

Situated in a prime Hancock Park location, this offering presents an excellent opportunity for any investor to capitalize on building out multiple ADU unit(s) on a character, French Normandy building in an upscale market of core Los Angeles.