Three-Building Apartment
New
For Sale
$4,500,000
1235 N Detroit St, West Hollywood, CA 90046
The rental complex sits on one parcel zoned WDR3C.
Property Size8,224 SF
Lot Size0.30 Acres
Days on Market6
Property Features for 1235 N Detroit St
General Information
Standard status
Active
Size
8,224 SF
Lot size
0.30 Acres
Property subtype
MULTI_FAMILY
Zoning
WDR3C
Building Details
Building Size
8,224 SF
Year Built
1940
Buildings
3
Listing Agency:
Marcus & Millichap
Listed By:
Roderick 'Rick' Raymundo · License #01357019
Source:
Rochellemaize
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 3:22PM
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.
Three separate buildings make up this apartment property, which was built in 1940 and occupies a 12,999-square-foot parcel zoned WDR3C.
The property is near the intersection of Santa Monica Boulevard and La Brea Avenue. Its Walk Score is 94, and The Grove, The Original Farmers Market, The Beverly Center, the Sunset Strip, the Hollywood Bowl, and the Hollywood Walk of Fame are identified as nearby destinations.
The property is near the intersection of Santa Monica Boulevard and La Brea Avenue. Its Walk Score is 94, and The Grove, The Original Farmers Market, The Beverly Center, the Sunset Strip, the Hollywood Bowl, and the Hollywood Walk of Fame are identified as nearby destinations.
Key Highlights
- Three separate apartment buildings
- 12,999‑square‑foot parcel
- Zoned WDR3C
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
$132,331
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
2.94%
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%
$2,646,620
$2.6M
Cap Rate 7%
$1,890,443
$1.9M
Cap Rate 9%
$1,470,344
$1.5M
Market Conditions
NOI Build-Up for 8,224 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
$261.5K $31.80/SF
− Vacancy
−$20.9K −$2.54/SF
EGI
$240.6K $29.26/SF
− OpEx
−$108.3K −$13.17/SF
NOI
$132.3K $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%
$2,646,620
Cap Rate 7%
$1,890,443
Cap Rate 9%
$1,470,344
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.21M
NOI $132,331 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.40M
$3.85M – $5.14M
NOI $308,217 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The rental complex sits on one parcel zoned WDR3C.
Where is this apartment building located?
The property is located at 1235 N Detroit St West Hollywood, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Three separate apartment buildings; 12,999‑square‑foot parcel; Zoned WDR3C
