Renovated 10-Unit Apartment
For Sale
$3,250,000
1015 N Vista St, West Hollywood, CA 90046
Updated apartments offer private patios, in-unit laundry, and gated on-grade parking.
Property Size8,094 SF
Price / SF$401.53
Days on Market159
Property Features for 1015 N Vista St
General Information
Standard status
Active
Size
8,094 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
8,094 SF
Year Built
1962
Listing Agency:
Marcus & Millichap
(818) 212-2700
Listed By:
Jason Tuvia · License #01772495
Source:
Benbelack
Added: Mar 25
Changed: Aug 29
Last Checked: Jul 28 at 9:20AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Built in 1962, this West Hollywood apartment property contains 10 residences with a mix of eight one-bedroom and two two-bedroom units. Recent improvements include stainless steel appliances, in-unit washer/dryers, wide-plank flooring, replacement windows, private patios, open-concept interiors, and bathrooms finished with contemporary materials. Gated, on-grade parking is also included.
The property is positioned south of Santa Monica Blvd and west of La Brea Ave, near Fairfax Ave and Sunset Blvd. Its West Hollywood setting places residents close to dining, retail, nightlife, the Sunset Strip, and the Hollywood Entertainment District. The combination of renovated interiors, varied unit sizes, and established access to surrounding commercial corridors supports both the physical appeal and operational utility of the asset.
The property is positioned south of Santa Monica Blvd and west of La Brea Ave, near Fairfax Ave and Sunset Blvd. Its West Hollywood setting places residents close to dining, retail, nightlife, the Sunset Strip, and the Hollywood Entertainment District. The combination of renovated interiors, varied unit sizes, and established access to surrounding commercial corridors supports both the physical appeal and operational utility of the asset.
Key Highlights
- 10‑unit apartment property built in 1962
- Unit mix includes eight one‑bedroom and two two‑bedroom apartments
- Recent renovations include stainless steel appliances, in‑unit washer/dryers, flooring, windows, patios, and updated bathrooms
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
$130,239
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
4.01%
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%
$2,604,780
$2.6M
Cap Rate 7%
$1,860,557
$1.9M
Cap Rate 9%
$1,447,100
$1.4M
Market Conditions
NOI Build-Up for 8,094 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
$257.4K $31.80/SF
− Vacancy
−$20.6K −$2.54/SF
EGI
$236.8K $29.26/SF
− OpEx
−$106.6K −$13.17/SF
NOI
$130.2K $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%
$2,604,780
Cap Rate 7%
$1,860,557
Cap Rate 9%
$1,447,100
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,239 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.33M
$3.79M – $5.06M
NOI $303,345 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Explore this area
Business Placement
Demographics for 90046, CA
49,987
Population
31,929
Households
1.6
Avg Household Size
39
Median Age
63%
College-Educated
95%
High-School Grad
5.7 sq mi
ZIP Area
8,770
Density / Sq Mi
$94,259
Median Household Income
$65,607
Median Earnings
$2,204
Median Rent
$1,411,500
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 - Updated apartments offer private patios, in-unit laundry, and gated on-grade parking.
Where is this apartment building located?
The property is located at 1015 N Vista St West Hollywood, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 10‑unit apartment property built in 1962; Unit mix includes eight one‑bedroom and two two‑bedroom apartments; Recent renovations include stainless steel appliances, in‑unit washer/dryers, flooring, windows, patios, and updated bathrooms
