7506 Norton AVE #7510, West Hollywood, CA 90046
7506 Norton AVE #7510, West Hollywood, CA 90046
7506 Norton AVE #7510, West Hollywood, CA 90046
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Ernie Caponera

Ernie Caponera

+1(714) 606-0926
$1,720,000
Est. payment /mo
6 Beds
6 Baths
2,665 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,665 sqft

Price per Sqft $645

MLS Listing ID 26986447

Bedrooms 6

HOA Y/N No

Year Built 1924

Lot Size 6,120 Sqft

Property Description

Available for an attractive 5.82% CAP Rate and 11.55 GRM, a new investor can benefit both from the property's strong immediate cash flow and from its substantial rent upside. With apartments in the building already achieving rents of $2,626 per month, eventually bringing the remaining units to that rent level represents a nearly 39% potential 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.

Location

State CA

County Los Angeles

Area C10 - West Hollywood Vicinity

Zoning WDR2*

Interior

Fireplace No

Exterior

Parking Features Assigned

Total Parking Spaces 5

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5530010011

Special Listing Condition Standard

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Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019

Nearby Locations

Ernie Caponera

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California 92625, USA

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7506 Norton AVE #7510

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