18-Unit Apartment
7063 Lanewood Ave, Los Angeles, CA 90028
For Sale
$4,190,000
Electrical panels have been replaced, and the plumbing system uses copper piping.
Property Size16,926 SF
Days on Market10
Property Features for 7063 Lanewood Ave
General Information
Standard status
Size
Net Rentable
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Construction
Listing Agency:
Marcus & Millichap
Listed By:
Roderick 'Rick' Raymundo · License CA #01357019
Source:
Milsteinestates
Added: Nov 5
Changed: Nov 10
Last Checked: Nov 12 at 5:16PM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
Built in 1930, this 18-unit apartment property contains 16,926 rentable square feet, arranged as 12 one-bedroom units and six single units. The building has Mediterranean-style architecture, upgraded electrical panels, and copper plumbing.
The property is near the intersection of Hollywood Boulevard and La Brea Avenue. TCL Chinese Theatre, Ovation Hollywood, and the Hollywood Walk of Fame are two blocks away; the West Hollywood border is three blocks south.
The property is near the intersection of Hollywood Boulevard and La Brea Avenue. TCL Chinese Theatre, Ovation Hollywood, and the Hollywood Walk of Fame are two blocks away; the West Hollywood border is three blocks south.
Key Highlights
- 18 units: 12 one‑bedroom apartments and six single units
- 16,926 rentable square feet
- Electrical panels upgraded; copper plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$272,353
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,447,060
$5.4M
Cap Rate 7%
$3,890,757
$3.9M
Cap Rate 9%
$3,026,144
$3.0M
Market Conditions
NOI Build-Up for 16,926 SF
Gross rent
$538.2K $31.80/SF
− Vacancy
−$43.1K −$2.54/SF
EGI
$495.2K $29.26/SF
− OpEx
−$222.8K −$13.17/SF
NOI
$272.4K $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 Rate 5%
$5,447,060
Cap Rate 7%
$3,890,757
Cap Rate 9%
$3,026,144
Alternative Uses
Best Use
Apartment 5plus
$3.89M
$3.40M – $4.54M
NOI $272,353 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.07M
$6.18M – $8.24M
NOI $494,677 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
6,076
Businesses Nearby
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Business Placement
Demographics for 90028, CA
32,330
Population
22,344
Households
1.4
Avg Household Size
36
Median Age
49%
College-Educated
90%
High-School Grad
1.5 sq mi
ZIP Area
21,553
Density / Sq Mi
$59,393
Median Household Income
$45,325
Median Earnings
$1,839
Median Rent
$970,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Electrical panels have been replaced, and the plumbing system uses copper piping.
Where is this apartment building located?
The property is located at 7063 Lanewood Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,190,000.
What are key features of this property?
This property features: 18 units: 12 one‑bedroom apartments and six single units; 16,926 rentable square feet; Electrical panels upgraded; copper plumbing
