16-Unit Apartment
New
For Sale
$3,695,000
1218 N Laurel Ave, West Hollywood, CA 90046
One- and two-bedroom residences create a varied multifamily unit mix near Santa Monica Boulevard.
Property Size12,318 SF
Days on Market7
Property Features for 1218 N Laurel Ave
General Information
Standard status
Active
Size
12,318 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
16
Building Details
Building Size
12,318 SF
Year Built
1954
Listing Agency:
Miller & Desatnik Realty Co.
Listed By:
Glenn Brander · License #01020228
(310) 202-9166
Source:
Rochellemaize
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 8:08AM
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 Miller & Desatnik Realty Co.
Investment Insights
Based on property information with market context.
This apartment property contains 16 residences with a mix of one- and two-bedroom floor plans. Built in 1954, the building encompasses 12,318 square feet and provides a substantial multifamily configuration in West Hollywood.
The property is positioned near Santa Monica Boulevard, with restaurants, retailers, grocery stores, nightlife, dining, shopping, and entertainment in the surrounding area. Its location along N Laurel Avenue places the residences within the West Hollywood rental market and near established neighborhood amenities.
The unit mix and residential layout support a range of apartment living formats within a single multifamily asset. The property is located at 1218 N Laurel Ave, West Hollywood, CA 90046.
The property is positioned near Santa Monica Boulevard, with restaurants, retailers, grocery stores, nightlife, dining, shopping, and entertainment in the surrounding area. Its location along N Laurel Avenue places the residences within the West Hollywood rental market and near established neighborhood amenities.
The unit mix and residential layout support a range of apartment living formats within a single multifamily asset. The property is located at 1218 N Laurel Ave, West Hollywood, CA 90046.
Key Highlights
- 16‑unit apartment property
- Mix of one- and two‑bedroom residences
- 12,318 square feet of property size
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
$198,206
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
5.36%
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%
$3,964,120
$4.0M
Cap Rate 7%
$2,831,514
$2.8M
Cap Rate 9%
$2,202,289
$2.2M
Market Conditions
NOI Build-Up for 12,318 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
$391.7K $31.80/SF
− Vacancy
−$31.3K −$2.54/SF
EGI
$360.4K $29.26/SF
− OpEx
−$162.2K −$13.17/SF
NOI
$198.2K $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%
$3,964,120
Cap Rate 7%
$2,831,514
Cap Rate 9%
$2,202,289
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.30M
NOI $198,206 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.60M
$5.77M – $7.69M
NOI $461,651 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom residences create a varied multifamily unit mix near Santa Monica Boulevard.
Where is this apartment building located?
The property is located at 1218 N Laurel Ave West Hollywood, CA.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: 16‑unit apartment property; Mix of one- and two‑bedroom residences; 12,318 square feet of property size
