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Horton Hall 2041 N Vermont Ave 32 Unit Apartment Building $8,890,000 ($277,813/Unit) 5.21% Cap Rate Los Angeles, CA 90027
Investment Highlights
- Own a piece of Los Feliz history, Horton Hall is a fabulous 32-unit multifamily building, almost always 100% occupied with a waiting list.
- Indulge in French Normandie design with beamed ceilings, French windows, owner's unit with a fireplace, arched doorways, and character-filled units.
- Attractive resident amenities include a charming elevator, a large shared laundry room, master-metered for gas and electricity, and lush greenery.
- Surrounding area is filled with local shops, restaurants, bars, and nature by the proximity to the trails and grassy knolls of Griffith Park.
Executive Summary
Take advantage of the price and income improvement, great current cap rate, and a 5% rent increase coming in the next three months on several of the units.
Horton Hall, located at 2041 N Vermont Avenue, is an exquisite 32-unit residential income property in Los Angeles, California. This offering stands out with gorgeous French Normandie design and ornate architectural details. Located along Vermont, just below the hills of Los Feliz, the Griffith Observatory, and just blocks from Los Feliz Village, this location couldn’t be better.
The property features 32 units, consisting of six beautiful one-bedroom view units with French windows, a two-bedroom non-conforming "owner's" unit with a fireplace, and 24 charming singles, spaciously featuring separate kitchens, dining areas, and walk-in closets. Each unit has charming details, including arched doors and doorways, as well as beamed ceilings. The total building size is 22,582 square feet per assessor.
Los Feliz is a vibrant and exciting place to live, offering amazing cafes, restaurants, nightlife, world-famous architecture, and lots of hiking for outdoor enthusiasts. This homey residence is centrally located close to Silver Lake, Hollywood, and Downtown Los Angeles (DTLA).
Owning this incredible piece of history would be a once-in-a-lifetime opportunity. The seller will consider a partial trade. Almost always 100% occupied, the owner has indicated that there is consistently a waiting list to get into the building. Vacancies have historically been filled through word of mouth. The views, character, and charm of the units, elevator, large laundry room, and the current owner's maintenance record make this a most attractive building for tenants. Anticipated upside of the rents is approximately 35-40% of the current rents.
Please see the attached offering memorandum for more details, and visit the website, linked below, for interior photos. Contact Lane Aronson of Berkshire Hathaway HomeServices CA Properties by phone at (323) 671-1233 for any questions.
Horton Hall, located at 2041 N Vermont Avenue, is an exquisite 32-unit residential income property in Los Angeles, California. This offering stands out with gorgeous French Normandie design and ornate architectural details. Located along Vermont, just below the hills of Los Feliz, the Griffith Observatory, and just blocks from Los Feliz Village, this location couldn’t be better.
The property features 32 units, consisting of six beautiful one-bedroom view units with French windows, a two-bedroom non-conforming "owner's" unit with a fireplace, and 24 charming singles, spaciously featuring separate kitchens, dining areas, and walk-in closets. Each unit has charming details, including arched doors and doorways, as well as beamed ceilings. The total building size is 22,582 square feet per assessor.
Los Feliz is a vibrant and exciting place to live, offering amazing cafes, restaurants, nightlife, world-famous architecture, and lots of hiking for outdoor enthusiasts. This homey residence is centrally located close to Silver Lake, Hollywood, and Downtown Los Angeles (DTLA).
Owning this incredible piece of history would be a once-in-a-lifetime opportunity. The seller will consider a partial trade. Almost always 100% occupied, the owner has indicated that there is consistently a waiting list to get into the building. Vacancies have historically been filled through word of mouth. The views, character, and charm of the units, elevator, large laundry room, and the current owner's maintenance record make this a most attractive building for tenants. Anticipated upside of the rents is approximately 35-40% of the current rents.
Please see the attached offering memorandum for more details, and visit the website, linked below, for interior photos. Contact Lane Aronson of Berkshire Hathaway HomeServices CA Properties by phone at (323) 671-1233 for any questions.
Sale Flyer
Property Facts
| Price | $8,890,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $277,813 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.21% | Building Size | 22,582 SF |
| Gross Rent Multiplier | 11.93 | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment | Parking Ratio | 0.32/1,000 SF |
| Zoning | LAR3 - Residential | ||
| Price | $8,890,000 |
| Price Per Unit | $277,813 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| Gross Rent Multiplier | 11.93 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 22,582 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1928 |
| Parking Ratio | 0.32/1,000 SF |
| Zoning | LAR3 - Residential |
Amenities
Unit Amenities
- Kitchen
- Oven
- Views
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 25 | - | 550 |
| 1+1 | 6 | - | 700 - 1,000 |
| 2+1 | 1 | - | - |
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5589-022-006 | Improvements Assessment | $1,208,517 |
| Land Assessment | $1,706,146 | Total Assessment | $2,914,663 |
Property Taxes
Parcel Number
5589-022-006
Land Assessment
$1,706,146
Improvements Assessment
$1,208,517
Total Assessment
$2,914,663
Sale Advisor
Sale Advisor
Lane Aronson, Broker-Associate
Having successfully negotiated hundreds of commercial real estate transactions, including more than 150 apartment and investment property sales during the past decade alone—Lane Aronson is one of Southern California's leading commercial investment specialists. For more than 40 years, he has advised investors, business owners, developers, trustees, attorneys, and owner-users on the acquisition, disposition, leasing, and valuation of investment real estate throughout Los Angeles and the San Gabriel Valley.
Lane serves as Commercial/Investment Director for Berkshire Hathaway HomeServices California Properties, representing clients throughout Southern California from the firm's Pasadena and Beverly Hills offices. His expertise spans apartment buildings, industrial properties, office buildings, retail centers, mixed-use developments, net-leased investments, development land, and high-value residential properties.
Recognized for his strategic approach to negotiations and in-depth market knowledge, Lane has built a reputation for helping clients maximize property value while successfully navigating complex transactions. His extensive experience includes trust and probate sales, 1031 exchanges, commercial leasing, investment analysis, and owner-user acquisitions. Clients value his ability to identify opportunities, solve challenging transaction issues, and negotiate favorable outcomes in every phase of the real estate process.
Throughout his career, Lane has represented a broad range of clients, from first-time investors to institutional owners and financial institutions. He previously served as an REO specialist for Home Savings of America, Great Western Savings, Coast Federal Savings, and Fidelity Federal, managing lender-owned properties throughout Southern California. He has also represented numerous trustees, probate estates, and attorneys in the successful disposition of complex real estate assets.
Lane's knowledge of the Southern California marketplace is particularly strong throughout Pasadena, Beverly Hills, Los Feliz, Silver Lake, Hollywood, Griffith Park, Downtown Los Angeles, Mid-Wilshire, Koreatown, and the San Gabriel Valley. His understanding of neighborhood trends, redevelopment opportunities, zoning considerations, rent stabilization regulations, and investment fundamentals enables clients to make informed real estate decisions with confidence.
A California Licensed Real Estate Broker since 1983, Lane earned a Bachelor of Science degree from California State University, Northridge, and completed advanced real estate studies at the University of Southern California. Before joining Berkshire Hathaway HomeServices California Properties, he owned one of Los Angeles' largest Century 21 franchises for 16 years and later served as Associate Manager for both the Los Feliz and Pasadena offices, where he trained and mentored hundreds of real estate professionals.
Lane has consistently been recognized as one of the company's top producers, earning the prestigious Chairman's Circle Award for more than 30 consecutive years and ranking among the top 2–4% in sales volume nationwide within Berkshire Hathaway HomeServices and Prudential California Realty.
Whether marketing a landmark apartment building, negotiating the sale of an industrial facility, leasing commercial space, or advising a family through a trust or probate transaction, Lane is committed to delivering exceptional market knowledge, skilled negotiation, uncompromising integrity, and results that consistently exceed client expectations.
Lane serves as Commercial/Investment Director for Berkshire Hathaway HomeServices California Properties, representing clients throughout Southern California from the firm's Pasadena and Beverly Hills offices. His expertise spans apartment buildings, industrial properties, office buildings, retail centers, mixed-use developments, net-leased investments, development land, and high-value residential properties.
Recognized for his strategic approach to negotiations and in-depth market knowledge, Lane has built a reputation for helping clients maximize property value while successfully navigating complex transactions. His extensive experience includes trust and probate sales, 1031 exchanges, commercial leasing, investment analysis, and owner-user acquisitions. Clients value his ability to identify opportunities, solve challenging transaction issues, and negotiate favorable outcomes in every phase of the real estate process.
Throughout his career, Lane has represented a broad range of clients, from first-time investors to institutional owners and financial institutions. He previously served as an REO specialist for Home Savings of America, Great Western Savings, Coast Federal Savings, and Fidelity Federal, managing lender-owned properties throughout Southern California. He has also represented numerous trustees, probate estates, and attorneys in the successful disposition of complex real estate assets.
Lane's knowledge of the Southern California marketplace is particularly strong throughout Pasadena, Beverly Hills, Los Feliz, Silver Lake, Hollywood, Griffith Park, Downtown Los Angeles, Mid-Wilshire, Koreatown, and the San Gabriel Valley. His understanding of neighborhood trends, redevelopment opportunities, zoning considerations, rent stabilization regulations, and investment fundamentals enables clients to make informed real estate decisions with confidence.
A California Licensed Real Estate Broker since 1983, Lane earned a Bachelor of Science degree from California State University, Northridge, and completed advanced real estate studies at the University of Southern California. Before joining Berkshire Hathaway HomeServices California Properties, he owned one of Los Angeles' largest Century 21 franchises for 16 years and later served as Associate Manager for both the Los Feliz and Pasadena offices, where he trained and mentored hundreds of real estate professionals.
Lane has consistently been recognized as one of the company's top producers, earning the prestigious Chairman's Circle Award for more than 30 consecutive years and ranking among the top 2–4% in sales volume nationwide within Berkshire Hathaway HomeServices and Prudential California Realty.
Whether marketing a landmark apartment building, negotiating the sale of an industrial facility, leasing commercial space, or advising a family through a trust or probate transaction, Lane is committed to delivering exceptional market knowledge, skilled negotiation, uncompromising integrity, and results that consistently exceed client expectations.
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Horton Hall | 2041 N Vermont Ave