8-Unit Apartment
New
For Sale
$2,295,000
7953 Norton Ave, West Hollywood, CA 90046
Two matching buildings contain one-bedroom, one-bathroom apartments, with one unit to be vacant at closing.
Property Size6,152 SF
Price / SF$373.05
Days on Market7
Property Features for 7953 Norton Ave
General Information
Standard status
Active
Size
6,152 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Building Details
Building Size
6,152 SF
Year Built
1923
Buildings
2
Listing Agency:
JNM Realty, INC.
Listed By:
Demis Dokhanian · License #01940496
(310) 270-6616
Source:
Benbelack
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 7 at 4:24PM
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 JNM Realty, INC.
Investment Insights
Based on property information with market context.
Built in 1923, this 6,152-square-foot apartment property comprises two matching buildings and eight one-bedroom, one-bathroom units. One apartment will be vacant at closing. The property was professionally managed during the owner's 20-year ownership.
Key Highlights
- Eight apartments, all with one bedroom and one bathroom
- Two matching buildings
- 6,152 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,991
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,979,820
$2.0M
Cap Rate 7%
$1,414,157
$1.4M
Cap Rate 9%
$1,099,900
$1.1M
Market Conditions
NOI Build-Up for 6,152 SF
Gross rent
$195.6K $31.80/SF
− Vacancy
−$15.7K −$2.54/SF
EGI
$180.0K $29.26/SF
− OpEx
−$81.0K −$13.17/SF
NOI
$99.0K $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%
$1,979,820
Cap Rate 7%
$1,414,157
Cap Rate 9%
$1,099,900
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,991 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,563 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
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 - Two matching buildings contain one-bedroom, one-bathroom apartments, with one unit to be vacant at closing.
Where is this apartment building located?
The property is located at 7953 Norton Ave West Hollywood, CA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Eight apartments, all with one bedroom and one bathroom; Two matching buildings; 6,152 square feet of building area
