$1,865,000
7506 Norton Avenue #7510
West Hollywood, CA 90046
6
Beds
6
Baths
2,665
Sq. Ft.
1924
Year Built
Los Angeles
County
ResidentialIncome
Property Type
About this home
Available for an attractive 6.17% CAP Rate and 11.27 GRM, a new investor can benefit both from the property's strong immediate cash flow and from its substantial rent upside. With multiple apartments in the building already achieving rents of $3,000 per month, eventually bringing the remaining units to that rent level represents a potential 45% increase in revenue. According to recent reports from Niche.com, West Hollywood ranked #1 out of 111 neighborhoods in Los Angeles County among the Best Suburbs for Young Professionals, and ranked #2 in the entire state of California. With 80% of the West Hollywood population residing in rental housing, these semi-private one-bedroom bungalows are extremely attractive to this demographic, helping to boost both demand and rental rates. The property has earned a Walk Score of 93, which qualifies the immediate neighborhood as a "Walker's Paradise." Residents enjoy convenient access to the nearby Whole Foods Market, Trader Joe's, and Plummer Park. Within a short driving distance are The Grove, Beverly Hills, the Sunset Strip, Runyan Canyon, and numerous other destinations in both the Hollywood and West Hollywood areas.
Property Details
Architecture
Features & Amenities
Property Features
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Mortgage Estimate
$9,926/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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