Corner Spanish Fourplex
For Sale
$1,650,000
Pending
8261 Romaine St, West Hollywood, CA 90046
Four-unit Spanish-style multifamily property on a corner lot, consisting of three structures across a gated and private setup.
Property Size3,256 SF
Days on Market55
Property Features for 8261 Romaine St
General Information
Standard status
Pending
Size
3,256 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
3,256 SF
Year Built
1924
Listing Agency:
Compass
Listed By:
Allison Schwarz
Source:
Rochellemaize
Added: Jul 13
Changed: Aug 21
Last Checked: Aug 20 at 12:29PM
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 Compass
Investment Insights
Based on property information with market context.
This Spanish-style fourplex offers four residential units arranged across three separate structures on a corner lot. The front two residences are located at 1001 and 1003 N. Harper Ave., and each features two bedrooms and one bathroom. These units are fully hedged and gated for privacy.
A one-bedroom, one-bath unit is located above the garage at 8261 Romaine St. and a separate two-bedroom, one-bath ground-floor unit is located at 8263 Romaine St., which includes a large private backyard.
The property is positioned as a flexible owner-user, investor, or redevelopment opportunity, supported by its corner-lot configuration and multi-structure layout.
A one-bedroom, one-bath unit is located above the garage at 8261 Romaine St. and a separate two-bedroom, one-bath ground-floor unit is located at 8263 Romaine St., which includes a large private backyard.
The property is positioned as a flexible owner-user, investor, or redevelopment opportunity, supported by its corner-lot configuration and multi-structure layout.
Key Highlights
- 4‑unit Spanish‑style multifamily on a corner lot with 3,256 sq ft across multiple structures
- Large 7,079 sq ft lot with a gated, private setup
- Year built 1924
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
$56,861
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
3.45%
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%
$1,137,220
$1.1M
Cap Rate 7%
$812,300
$812.3K
Cap Rate 9%
$631,789
$631.8K
Market Conditions
NOI Build-Up for 3,256 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
$87.9K $27.00/SF
− Vacancy
−$6.7K −$2.05/SF
EGI
$81.2K $24.95/SF
− OpEx
−$24.4K −$7.48/SF
NOI
$56.9K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,137,220
Cap Rate 7%
$812,300
Cap Rate 9%
$631,789
Alternative Uses
Best Use
Multifamily LT 5
$812.3K
$710.8K – $947.7K
NOI $56,861 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$748.5K
$654.9K – $873.2K
NOI $52,392 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,027 @ 7.0% cap · market cap 7.40%
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?
Quadplex - Four-unit Spanish-style multifamily property on a corner lot, consisting of three structures across a gated and private setup.
Where is this quadplex located?
The property is located at 8261 Romaine St West Hollywood, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 4‑unit Spanish‑style multifamily on a corner lot with 3,256 sq ft across multiple structures; Large 7,079 sq ft lot with a gated, private setup; Year built 1924
