7528-7534 Norton Ave, West Hollywood, CA 90046
$4,795,000
Property Details
Beds22
Baths20
Garage10
Lot Size13,005 sq. ft
Year1953
Bldg Size13,171 sq. ft
Property Description
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 4.6% with incredible upside. Great unit-mix with 10 one bedroom units and 6 two bedroom units and up to 6 units can 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 ofLos Angeles, West Hollywood submarket boasts strong high-end demographics with an average household income of $102,000. City is conveniently located near jobs in entertainment, health care, social services, professional services and more. APN #s: 5530-010-006 & 5530-010-007 .
PROPERTY BEING SOLD BY COURT-APPOINTED REFEREE ANDMAY BE SUBJECT TO COURT CONFIRMATION AND OVERBID HEARING. DO NOT ENTER PROPERTY!
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