5.82% CAP | Bungalow-Style | Private Garages 7506 Norton Ave 6 Unit Apartment Building $1,720,000 ($286,667/Unit) 5.82% Cap Rate West Hollywood, CA 90046

Marcus & Millichap is pleased to announce the opportunity to purchase 7506-7510 Norton Avenue, a six-unit multifamily property located in the desirable city of West Hollywood, CA. 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.