7506 Norton Avenue 7510

About This Property

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.

Neighborhood

This property is located in West Hollywood. Want to learn more about the area?

Listing courtesy of Marcus & Millichap

Listing data from CRMLS. Deemed reliable but not guaranteed.