Corner-Lot
For Sale
$1,650,000
8261 Romaine St, West Hollywood, CA 90046
MULTI_FAMILY - West Hollywood, CA
Property Size3,256 SF
Lot Size0.16 Acres
Price / SF$506.76
Days on Market28
Property Features for 8261 Romaine St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
WDR2*
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 7, Bathroom 4, Bedroom 4, Bathroom 1
Parking
4
Parking features
Driveway, Garage
Directions
East of La Cienega, west of Crescent Heights, north of Melrose, south of Santa Monica Blvd.
Subdivision
West Hollywood Vicinity
Standard status
Active
APN
5529-012-010
Size
3,256 SF
Lot size
0.16 Acres
Building Details
Year built
1924
Floors in Building
2
Number of units
4
Listing Agency:
Compass
(310) 230-5478
Listed By:
Allison Schwarz · License #01878458
(310) 433-0056
Added: Jul 13
Changed: Aug 8
Last Checked: Aug 9 at 3:06AM
MLS# 26859399
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This West Hollywood property contains 3,256 square feet arranged as four residences within three separate structures. The two front homes at 1001 and 1003 N. Harper Ave. each offer two bedrooms and one bathroom. A one-bedroom, one-bath residence sits above the garage at 8261 Romaine St., while 8263 Romaine St. contains a two-bedroom, one-bath ground-floor home with a private backyard.
The property occupies a 0.1625-acre corner parcel in Los Angeles County and includes driveway and garage parking. Built in 1924, it carries WDR2* zoning and is located in West Hollywood, California. The separate structures and varied unit layouts provide a clearly defined four-residence configuration.
The property occupies a 0.1625-acre corner parcel in Los Angeles County and includes driveway and garage parking. Built in 1924, it carries WDR2* zoning and is located in West Hollywood, California. The separate structures and varied unit layouts provide a clearly defined four-residence configuration.
Key Highlights
- Four units totaling 3,256 square feet across three separate structures
- 0.1625‑acre corner lot with 7,079 square feet of land area
- Two 2‑bedroom, 1‑bath residences at 1001 and 1003 N. Harper Ave.
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
4,631
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 residences occupy three structures on a 7,079-square-foot parcel with driveway and garage parking.
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: Four units totaling 3,256 square feet across three separate structures; 0.1625‑acre corner lot with 7,079 square feet of land area; Two 2‑bedroom, 1‑bath residences at 1001 and 1003 N. Harper Ave.
