West Hollywood Multifamily Investment
For Sale
$1,695,000
Pending
1266 North Flores Street, West Hollywood, CA 90069
Charming five-unit property in the heart of West Hollywood.
Property Size4,830 SF
Days on Market155
Property Features for 1266 North Flores Street
General Information
Standard status
Pending
Size
4,830 SF
Total Parking Spaces
3
Property subtype
Residential Income
Net Operating Income
$165,390
Building Details
Year Built
1923
Buildings
2
Listing Agency:
COMPASS
(626) 807-8558
Listed By:
George Penner · License #01394929
(626) 807-8558
Source:
Compass
Added: Mar 23
Changed: Aug 23
Last Checked: Aug 24 at 12:16PM
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 COMPASS
Investment Insights
Based on property information with market context.
This charming Mediterranean Revival property, nestled in the heart of West Hollywood, presents an investment or owner-user opportunity. The original front building, constructed in 1923, features two single-story flats facing a tree-lined street. To the rear, three units built in 1954 in a mid-century style surround a garden courtyard, accessible via a porte cochere drive lined with citrus trees and adjacent to a two-car garage. Unit 1266, located on the upper level, features 1,619 sqft, 2 beds and 1.5 baths, with a private indoor stairwell and additional sunroom. Unit 1268, on the lower level, offers 1,481 sqft, 2 beds and 1 bath, and quintessential floor-to-ceiling arched windows with front-facing yard views. In the rear building, ground-level Unit 1268 3\4 measures 423 sqft, with 1 bed and 1 bath, and adjacent courtyard access. Units 1268 1\4 and 1268 1\2, both perched on the second level, each measure 503 sqft, with 1 bed and 1 bath, and views of the surrounding courtyard foliage. The property is located minutes away from iconic dining and shopping spots, offering an excellent opportunity to have a foothold in the vibrant West Hollywood community.
Key Highlights
- Five‑unit property ideal for investment or owner‑user in West Hollywood.
- Features a mix of architectural styles: 1923 Mediterranean Revival and 1954 Mid‑Century.
- Front units offer spacious living areas with abundant natural light and architectural character.
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
$77,719
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
4.59%
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%
$1,554,380
$1.6M
Cap Rate 7%
$1,110,271
$1.1M
Cap Rate 9%
$863,544
$863.5K
Market Conditions
NOI Build-Up for 4,830 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
$153.6K $31.80/SF
− Vacancy
−$12.3K −$2.54/SF
EGI
$141.3K $29.26/SF
− OpEx
−$63.6K −$13.17/SF
NOI
$77.7K $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%
$1,554,380
Cap Rate 7%
$1,110,271
Cap Rate 9%
$863,544
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$971.5K – $1.30M
NOI $77,719 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,017 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Charming five-unit property in the heart of West Hollywood.
Where is this apartment building located?
The property is located at 1266 North Flores Street West Hollywood, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Five‑unit property ideal for investment or owner‑user in West Hollywood.; Features a mix of architectural styles: 1923 Mediterranean Revival and 1954 Mid‑Century.; Front units offer spacious living areas with abundant natural light and architectural character.
