8-Unit Multifamily Apartment
New
For Sale
$3,250,000
613 Westbourne Dr, West Hollywood, CA 90069
Eight residences offer a balanced mix of one- and two-bedroom floor plans near Melrose Avenue and major local institutions.
Property Size7,442 SF
Price / SF$436.71
Days on Market5
Property Features for 613 Westbourne Dr
General Information
Standard status
Active
Size
7,442 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
4 x 1BR/1BA, 4 x 2BR/2BA
Multifamily Units
8
Additional Details
Gross Income
$197,367
Building Details
Building Size
7,442 SF
Year Built
1961
Listing Agency:
Sotheby's International Realty
(310) 387-7087
Listed By:
Allen Roth · License #01272304
Source:
Rochellemaize
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 10:34AM
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 Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1961, this 8-unit apartment building at 613 Westbourne Dr includes approximately 7,442 square feet. The unit mix is evenly divided between four one-bedroom, one-bath residences and four two-bedroom, two-bath residences, giving the property a combination of smaller and larger floor plans within one multifamily asset.
The property is in West Hollywood, just north of Melrose Avenue and near the Pacific Design Center and Cedars-Sinai Medical Center. The surrounding area includes restaurants, cafes, boutiques, design showrooms, luxury retailers, employment centers, and institutional destinations. Its position near West Hollywood, Beverly Grove, and the greater Beverly Hills area places the building within an established residential and commercial setting.
The property is in West Hollywood, just north of Melrose Avenue and near the Pacific Design Center and Cedars-Sinai Medical Center. The surrounding area includes restaurants, cafes, boutiques, design showrooms, luxury retailers, employment centers, and institutional destinations. Its position near West Hollywood, Beverly Grove, and the greater Beverly Hills area places the building within an established residential and commercial setting.
Key Highlights
- 8‑unit apartment building constructed in 1961
- Approximately 7,442 square feet
- Unit mix includes four 1‑bedroom/1‑bath and four 2‑bedroom/2‑bath residences
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
$119,748
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
3.68%
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%
$2,394,960
$2.4M
Cap Rate 7%
$1,710,686
$1.7M
Cap Rate 9%
$1,330,533
$1.3M
Market Conditions
NOI Build-Up for 7,442 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
$236.7K $31.80/SF
− Vacancy
−$18.9K −$2.54/SF
EGI
$217.7K $29.26/SF
− OpEx
−$98.0K −$13.17/SF
NOI
$119.7K $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%
$2,394,960
Cap Rate 7%
$1,710,686
Cap Rate 9%
$1,330,533
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,748 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.49M – $4.65M
NOI $278,909 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
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 - Eight residences offer a balanced mix of one- and two-bedroom floor plans near Melrose Avenue and major local institutions.
Where is this apartment building located?
The property is located at 613 Westbourne Dr West Hollywood, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in 1961; Approximately 7,442 square feet; Unit mix includes four 1‑bedroom/1‑bath and four 2‑bedroom/2‑bath residences
