10-Unit Apartment
New
For Sale
$2,895,000
7631 Norton Ave, West Hollywood, CA 90046
North of Santa Monica Boulevard with gated parking and secure building access.
Property Size8,583 SF
Price / SF$337.29
Days on Market6
Property Features for 7631 Norton Ave
General Information
Standard status
Active
Size
8,583 SF
Property subtype
MULTI_FAMILY
Additional Details
Utilities to Site
Yes
Multifamily Units
10
Amenities
gated parking
secure building access
separately metered gas and electricity
Building Details
Building Size
8,583 SF
Year Built
1961
Listing Agency:
Miller & Desatnik Realty Co.
Listed By:
Glenn Brander · License #01020228
(310) 202-9166
Source:
Benbelack
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 20 at 2:20PM
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 Miller & Desatnik Realty Co.
Investment Insights
Based on property information with market context.
Built in 1961, this 8,583-square-foot apartment property contains 10 residences with a mix of one- and two-bedroom floor plans. The units are described as generously sized, providing varied layouts within the building. Gated parking, controlled building access, and separate metering for gas and electricity are included among the property features.
The asset is located at 7631 Norton Ave in West Hollywood, north of Santa Monica Boulevard. Its setting places the property near the dining, nightlife, shopping, and entertainment destinations associated with the surrounding area while maintaining a residential neighborhood context.
The asset is located at 7631 Norton Ave in West Hollywood, north of Santa Monica Boulevard. Its setting places the property near the dining, nightlife, shopping, and entertainment destinations associated with the surrounding area while maintaining a residential neighborhood context.
Key Highlights
- 10‑unit apartment property totaling 8,583 square feet
- Mix of one- and two‑bedroom residences
- Gated parking
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
$138,107
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
4.77%
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%
$2,762,140
$2.8M
Cap Rate 7%
$1,972,957
$2.0M
Cap Rate 9%
$1,534,522
$1.5M
Market Conditions
NOI Build-Up for 8,583 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
$272.9K $31.80/SF
− Vacancy
−$21.8K −$2.54/SF
EGI
$251.1K $29.26/SF
− OpEx
−$113.0K −$13.17/SF
NOI
$138.1K $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%
$2,762,140
Cap Rate 7%
$1,972,957
Cap Rate 9%
$1,534,522
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.73M – $2.30M
NOI $138,107 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.60M
$4.02M – $5.36M
NOI $321,671 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - North of Santa Monica Boulevard with gated parking and secure building access.
Where is this apartment building located?
The property is located at 7631 Norton Ave West Hollywood, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: 10‑unit apartment property totaling 8,583 square feet; Mix of one- and two‑bedroom residences; Gated parking
