$3,900,000
$4,200,500
7.2%For more information regarding the value of a property, please contact us for a free consultation.
7528 Norton Avenue West Hollywood, CA 90046
13,171 SqFt
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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Bought with EricSackler