9-Unit Apartment
For Sale
$3,195,000
561 N Sweetzer Ave, West Hollywood, CA 90048
Corner-located apartment property near Melrose Avenue.
Property Size7,550 SF
Days on Market154
Property Features for 561 N Sweetzer Ave
General Information
Standard status
Active
Size
7,550 SF
Property subtype
Multifamily
Financials
Asking Price
$3,290,000
Cap Rate
4.49%
Additional Details
Road Access
Yes
Multifamily Units
9
Amenities
Prime Corner Location at Sweetzer & Clinton in an affluent, quiet residential enclave
Irreplaceable West Hollywood Address surrounded by luxury homes and premium redevelopments
Walkable to Melrose Place with access to Los Angeles' top dining, fashion, and entertainment
Strong Value-Add Opportunity through unit interior upgrades and common area enhancements
Stable Rent Roll with long-term tenants and below-market rents providing immediate upside
High-Barrier-to-Entry Market with extremely limited multifamily supply and persistent demand
Minutes to Major Destinations: Design District, Beverly Center, Sunset Strip, Cedars-Sinai, The Grove
Rare Investment Opportunity: Ideal for investors seeking long-term appreciation in one of LA's most iconic neighborhood
Building Details
Building Size
7,550 SF
Units
9
Listing Agency:
Encino Office
(818) 212-2700
Listed By:
Dana S. Brody · License #CA: 01429001
(818) 212-2757
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 9:31PM
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 Encino Office
Investment Insights
Based on property information with market context.
This 9-unit apartment building occupies the corner of Sweetzer Avenue and Clinton Street in West Hollywood. The property features classic architecture and is positioned within a residential setting of single-family homes and boutique apartment buildings.
The building is steps from Melrose Avenue and minutes from the West Hollywood Design District. Its address is 561 N Sweetzer Ave, West Hollywood, CA 90048.
The building is steps from Melrose Avenue and minutes from the West Hollywood Design District. Its address is 561 N Sweetzer Ave, West Hollywood, CA 90048.
Key Highlights
- 9‑unit apartment building
- Corner position at Sweetzer Avenue and Clinton Street
- Steps from Melrose Avenue
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
$121,486
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
3.80%
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%
$2,429,720
$2.4M
Cap Rate 7%
$1,735,514
$1.7M
Cap Rate 9%
$1,349,844
$1.3M
Market Conditions
NOI Build-Up for 7,550 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
$240.1K $31.80/SF
− Vacancy
−$19.2K −$2.54/SF
EGI
$220.9K $29.26/SF
− OpEx
−$99.4K −$13.17/SF
NOI
$121.5K $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%
$2,429,720
Cap Rate 7%
$1,735,514
Cap Rate 9%
$1,349,844
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.52M – $2.02M
NOI $121,486 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $282,957 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,771
Businesses Nearby
Explore this area
Business Placement
Demographics for 90048, CA
22,604
Population
13,733
Households
1.6
Avg Household Size
39
Median Age
69%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
11,897
Density / Sq Mi
$104,227
Median Household Income
$83,951
Median Earnings
$2,359
Median Rent
$1,847,500
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 - Corner-located apartment property near Melrose Avenue.
Where is this apartment building located?
The property is located at 561 N Sweetzer Ave West Hollywood, CA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: 9‑unit apartment building; Corner position at Sweetzer Avenue and Clinton Street; Steps from Melrose Avenue
