Apartment Building with
For Sale
Contact for pricing
1000 Hammond Street, West Hollywood, CA 90069
Twelve-unit apartment building with sizable balconies, parking/storage, and two vacant units available for immediate leasing.
Property Size9,000 SF
Price / SF$555.56
Days on Market89
Property Features for 1000 Hammond Street
General Information
Standard status
Active
Size
9,000 SF
Class
B
Property subtype
Multifamily
Additional Details
Multifamily Units
12
Building Details
Year Renovated
2020
Listing Agency:
Exclusive Realty & Finance
(213) 840-3646
Listed By:
Harry Babajoni · License #01267105
Source:
Crexi
Added: May 28
Changed: Aug 11
Last Checked: Aug 22 at 10:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exclusive Realty & Finance
Investment Insights
Based on property information with market context.
This apartment building offers 12 residential units configured as 8 one-bedroom units, 2 two-bedroom units, and 2 large studio units. Units feature huge balconies, and the property includes available parking and storage. According to the seller, the building was built in the late 1950s with work dated 2020, and the gross annual income is approximately $350,000, which includes two vacant units. Operating expenses are listed at approximately $12,000, with property tax approximately $70,000 and property insurance approximately $20,000.
The property is located at 1000 Hammond Street in West Hollywood, California. The seller reports a land area of 7,000 SF and a built size/GLA of 9,000 SF, and notes the presence of currently vacant units (a 2+2 and a single).
For buyers or operators seeking stabilized multifamily income with room to implement leasing and tenant mix improvements, the current vacancies provide an immediate path to occupancy. In addition, the seller has an RTI plan to convert approximately 3,000 SF of existing dead space into 2 additional two-bedroom units (2+2), subject to city approval. The seller states this conversion could potentially increase annual NOI by at least $180,000, and buyers are instructed to verify requirements independently and confirm the sale cannot be contingent on the city approval outcome.
The property is located at 1000 Hammond Street in West Hollywood, California. The seller reports a land area of 7,000 SF and a built size/GLA of 9,000 SF, and notes the presence of currently vacant units (a 2+2 and a single).
For buyers or operators seeking stabilized multifamily income with room to implement leasing and tenant mix improvements, the current vacancies provide an immediate path to occupancy. In addition, the seller has an RTI plan to convert approximately 3,000 SF of existing dead space into 2 additional two-bedroom units (2+2), subject to city approval. The seller states this conversion could potentially increase annual NOI by at least $180,000, and buyers are instructed to verify requirements independently and confirm the sale cannot be contingent on the city approval outcome.
Key Highlights
- 12‑unit apartment building (8x 1‑bedroom, 2x 2‑bedroom, 2 large luxury studios) with huge balconies
- GLA 9,000 SF on a 7,000 SF land area; built late 1950s with 2020 updates
- Includes available parking/storage; two vacant units currently available for immediate leasing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$144,817
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,896,340
$2.9M
Cap Rate 7%
$2,068,814
$2.1M
Cap Rate 9%
$1,609,078
$1.6M
Market Conditions
NOI Build-Up for 9,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$286.2K $31.80/SF
− Vacancy
−$22.9K −$2.54/SF
EGI
$263.3K $29.26/SF
− OpEx
−$118.5K −$13.17/SF
NOI
$144.8K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,896,340
Cap Rate 7%
$2,068,814
Cap Rate 9%
$1,609,078
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.41M
NOI $144,817 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.82M
$4.22M – $5.62M
NOI $337,300 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
4,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 90069, CA
20,584
Population
15,160
Households
1.4
Avg Household Size
44
Median Age
72%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
9,356
Density / Sq Mi
$110,705
Median Household Income
$80,535
Median Earnings
$2,230
Median Rent
$1,085,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit apartment building with sizable balconies, parking/storage, and two vacant units available for immediate leasing.
Where is this apartment building located?
The property is located at 1000 Hammond Street West Hollywood, CA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 12‑unit apartment building (8x 1‑bedroom, 2x 2‑bedroom, 2 large luxury studios) with huge balconies; GLA 9,000 SF on a 7,000 SF land area; built late 1950s with 2020 updates; Includes available parking/storage; two vacant units currently available for immediate leasing
