West Hollywood, CA 90046,7528 Norton Avenue

$3,900,000

Est. payment /mo

$4,200,500

7.2%
Est.Price: ?

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7528 Norton Avenue West Hollywood, CA 90046

13,171 SqFt

SOLD DATE : 07/28/2023

Key Details

Sold Price $3,900,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 13,171 sqft

Price per Sqft $296

MLS Listing ID CL23250695

Sold Date 07/28/23

HOA Y/N No

Year Built 1953

Lot Size 0.299 Acres

Acres 0.3

Property Description

PUBLIC NOTICE OF SALE -On Friday July 21, 2023, at 10:00 a.m. a the Los Angeles Superior Court, Stanley Mosk Courthouse, Department 54, located at 111 N. Hill Street, there will be a court hearing to confirm the sale of the property. 7528 & 7534 Norton Avenue consists of two adjacent 8-unit apartment buildings located in the city of West Hollywood - home to fantastic restaurants, hotels, nightlife, and shopping. The property represents a fantastic opportunity to acquire a value-add building in one of the greatest submarkets in Los Angeles in which to own multi-family property. Current CAP is over 5.6% with incredible upside. Great unit-mix with 10 one bedroom units and 6 two bedroom units and up to 7 units could be delivered vacant. The apartment market in West Hollywood is considered to be competitive with its consistently high rent-growth due to high demand for rental properties and limited supply. Tenants still choose to live in West Hollywood due to its unique atmosphere and vibrant community. The city has a mix of older and newer apartment buildings, with many of the older buildings featuring unique and spacious units. Ideally situated in the westside of Los Angeles, West Hollywood submarket boasts strong high-end demographics with an average household income of $102,000. Ci

Location

State CA

County Los Angeles

Area West Hollywood Vicinity

Zoning WDR2

Interior

Fireplace No

Building

New Construction No

Others

Tax ID 5530010007

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Bridge MLS
Listed by Eric Sackler • Coldwell Banker Realty
Bought with EricSackler
agent

Jodi Nishimura

Founder & Realtor® | License ID: 01762935

+1(510) 459-0471

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