Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    West Hollywood Triplex Redevelopment Potential Title is generated by Realmo AI

    1029 N Orange Grv, West Hollywood, CA 90046

    View on Map
    Claim this Listing
    For Sale
    $1,899,000

    West Hollywood triplex with income and redevelopment potential.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    42
    Last Refresh:
    Apr 24 at 4:34 pm

    Property Features for 1029 N Orange Grv

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Edward Frish

    Listing agent Edward Frish License #01252271

    Listing office Century 21 EDVA

    Listing date Apr 24, 2026

    Source Elliman

    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 Century 21 EDVA

    HighLights

    • Prime West Hollywood location with excellent income and redevelopment potential.
    • Potential to build up to five units, plus two additional low‑income units, subject to city approval.
    • Opportunity to live in one unit and rent the others.
    • With a three‑story structure, enjoy potential for unobstructed west‑to‑east views, including the Hollywood Sign.
    • Three garages currently rented separately for additional income.
    • Walking distance to renowned restaurants, shopping, nightlife, and entertainment.

    Overview

    This West Hollywood triplex features two separate buildings, offering excellent income and redevelopment potential. The property includes three garages that are currently rented separately from the units, providing additional income. The location is within walking distance of restaurants, shopping, nightlife, and entertainment. According to the City of West Hollywood, with approximately 1,500 sq ft per unit, there may be potential to build up to five units, plus two additional low-income units, subject to city approval. Photos taken from the top of the garage illustrate the potential for unobstructed west-to-east views, including views toward the Hollywood Sign, if a three-story structure is developed. The bike score is 8, indicating it is somewhat bikeable. The transit score is 45, indicating some transit options are available. The walk score is 26, indicating it is car-dependent.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.366
    Latitude
    34.1068

    Nearby Similar for Sale

    • $1,985,000
      3,950 SF

      West Hollywood Fourplex with Upside

      Charming 1922 Spanish-style fourplex in prime West Hollywood location.
      1028 N Hayworth Ave, West Hollywood, CA 90046
      View Details
    • $1,325,000
      2,104 SF

      West Hollywood Multifamily Investment Opportunity

      Five-unit property in prime West Hollywood with income potential.
      7154 Lexington Ave, West Hollywood, CA 90046
      View Details
    • $1,799,000
      2,519 SF

      West Hollywood Duplex Opportunity

      Two houses on one lot in West Hollywood.
      900 N Spaulding Ave, West Hollywood, CA 90046
      View Details
    • $9,450,000
      23,675 SF

      West Hollywood Multifamily Investment Opportunity

      Prime West Hollywood multifamily property with condominium conversion potential.
      8815 Cynthia St, West Hollywood, CA 90069
      View Details
    • $3,550,000
      4,928 SF

      West Hollywood Four-Unit Townhouse Property

      Four meticulously maintained townhomes in a prime West Hollywood location.
      837 Westmount Dr, West Hollywood, CA 90069
      View Details
    • $999,000
      2,828 SF

      West Hollywood Income Property

      Charming Spanish income property on a large lot.
      1015 N MARTEL Ave, WEST HOLLYWOOD, CA 90046
      View Details
    • Contact for pricing
      6,099 SF

      West Hollywood Development Opportunity

      Prime corner location with development potential in West Hollywood.
      8001 Santa Monica Boulevard, West Hollywood, CA, 90046
      View Details
    • $2,650,000

      West Hollywood Multifamily Investment Opportunity

      Nine-unit apartment building in West Hollywood's Norma Triangle.
      937 Hilldale, West Hollywood, CA 90069
      View Details
    • $6,900,000

      West Hollywood Retail/Office Opportunity

      Retail and office space available on Santa Monica Boulevard.
      7906 - 7914 Santa Monica Blvd, West Hollywood, CA 90046
      View Details
    • $6,900,000

      West Hollywood Retail/Office Opportunity

      Retail and office space available on Santa Monica Boulevard.
      7906 Santa Monica Blvd, West Hollywood, CA 90046
      View Details
    • $1,865,000

      West Hollywood Multifamily Investment Opportunity

      Six-unit multifamily property in West Hollywood with strong cash flow.
      7506-7510 Norton Ave, West Hollywood, CA 90046
      View Details
    • $24,345,000

      Los Angeles Multifamily Portfolio

      64 units in prime Los Angeles markets with assumable financing.
      1429 Havenhurst Dr, West Hollywood, CA 90046
      View Details

    FAQs

    What type of property is this?
    Triplex - West Hollywood triplex with income and redevelopment potential.
    Where is this triplex located?
    The property is located at 1029 N Orange Grv West Hollywood, CA.
    What is the asking price?
    The asking price for this property is $1,899,000.
    What are key features of this property?
    This property features: Prime West Hollywood location with excellent income and redevelopment potential.; Potential to build up to five units, plus two additional low‑income units, subject to city approval.; Opportunity to live in one unit and rent the others.
    (818) 371-1665
    We can help!
    Listing Contact
    Edward Frish
    Real Estate License ID: 01252271
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1029 N Orange Grv, West Hollywood, CA 90046
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!