West Hollywood Multifamily Investment
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1429 N Havenhurst Drive, West Hollywood, CA 90046
18-unit apartment building near Sunset Strip with assumable debt.
Property Size11,580 SF
Price / SF$423.14
Days on Market150
Property Features for 1429 N Havenhurst Drive
General Information
Standard status
Active
Size
11,580 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$257,227
Building Details
Year Built
1949
Units
18
Listing Agency:
Marcus & Millichap - Encino
Listed By:
Dana Brody · License #CA
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 2:54PM
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 - Encino
Investment Insights
Based on property information with market context.
Located just south of Sunset Boulevard, 1429 N. Havenhurst Drive is an 18-unit multifamily property in West Hollywood. The property is situated on an oversized lot west of Crescent Heights Boulevard, near the Sunset Strip. The building features one- and two-bedroom apartments. The property offers in-place income with the opportunity to renovate units. The location provides access to employment hubs, hospitality, nightlife, and high-end retail. This property is positioned for rent growth and appreciation.
Key Highlights
- Prime West Hollywood Location: Just south of Sunset Boulevard, offering unparalleled access to luxury lifestyle, entertainment, and employment opportunities.
- Assumable Debt: Features assumable debt at 2.76%, providing below‑market financing.
- Significant Rental Upside: Opportunity to renovate units and capture substantial rental premiums.
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
$186,331
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
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%
$3,726,620
$3.7M
Cap Rate 7%
$2,661,871
$2.7M
Cap Rate 9%
$2,070,344
$2.1M
Market Conditions
NOI Build-Up for 11,580 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
$368.2K $31.80/SF
− Vacancy
−$29.5K −$2.54/SF
EGI
$338.8K $29.26/SF
− OpEx
−$152.5K −$13.17/SF
NOI
$186.3K $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%
$3,726,620
Cap Rate 7%
$2,661,871
Cap Rate 9%
$2,070,344
Alternative Uses
Best Use
Apartment 5plus
$2.66M
$2.33M – $3.11M
NOI $186,331 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,992 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - 18-unit apartment building near Sunset Strip with assumable debt.
Where is this apartment building located?
The property is located at 1429 N Havenhurst Drive West Hollywood, CA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Prime West Hollywood Location: Just south of Sunset Boulevard, offering unparalleled access to luxury lifestyle, entertainment, and employment opportunities.; Assumable Debt: Features assumable debt at 2.76%, providing below‑market financing.; Significant Rental Upside: Opportunity to renovate units and capture substantial rental premiums.
