7972 Norton Avenue

    West Hollywood, CA 90046
    • $2,825,000
    • STATUS: Active Under Contract
    • ON SITE: 444 days
    • ID#: 17257840
    Under Contract
    UPDATED: 155 min ago
    $2,825,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,484
      SQFT
    • $377
      $/SQFT
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    The subject property is a 9-unit multifamily property located in the desirable and trendy community of West Hollywood, CA, just three blocks from the Sunset Strip. Current rents are well below those of similar properties in the neighborhood, resulting in an opportunity for a new investor to eventually recapture approximately 66% in rent upside. This income is supplemented by the landlord-owned on-site laundry facilities, while expenses are limited by the presence of partial copper plumbing and a newer water heater. Select units feature fully renovated kitchens with new countertops, cabinets, and tile backsplashes, new wood flooring, crown moulding, and remodeled bathrooms.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-23T09:27:18.63. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/75514544

    7972 Norton Avenue West Hollywood, CA 90046

    • Price: $2,825,000
    • Status: Active Under Contract
    • Updated: 155 min ago
    • ID#: 17257840
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    7,484
    SQFT
    $377
    $/SQFT
    1958
    Built
    Neighborhood:
    C10 - West Hollywood Vicinity
    County:
    Los Angeles
    Area:
    C10 - West Hollywood Vicinity
    Property Description
    The subject property is a 9-unit multifamily property located in the desirable and trendy community of West Hollywood, CA, just three blocks from the Sunset Strip. Current rents are well below those of similar properties in the neighborhood, resulting in an opportunity for a new investor to eventually recapture approximately 66% in rent upside. This income is supplemented by the landlord-owned on-site laundry facilities, while expenses are limited by the presence of partial copper plumbing and a newer water heater. Select units feature fully renovated kitchens with new countertops, cabinets, and tile backsplashes, new wood flooring, crown moulding, and remodeled bathrooms.
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Carport Parking YN Yes

    Interior Features

    Cooling Wall Window Cooling YN Yes

    Property Features

    Gross Multiplier 18.81 Gross Operating Income 150156.00 Improvements Amount 780921 Land Value 1018594 Net Operating Income 88259.00 Special Listing Conditions Standard Total Expenses 57437.00 Zoning Wdr4*

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-23T09:27:18.63. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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