944 N Orange Grove Ave — Sale in West Hollywood, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: West Hollywood, CA 90046
Photos
Investment Figures
- Cap rate
- 5.64%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
944 N Orange Grove Avenue presents a 19-unit apartment community available for the first time in over 38 years, situated on a 12,577-square-foot lot in the heart of West Hollywood. Constructed in 1961 and held by the same family for nearly four decades, the two-story property is comprised of exceptionally spacious one- and two-bedroom residences averaging approximately 937 square feet — well above the neighborhood norm and a meaningful competitive advantage in a submarket where unit size is increasingly scarce. Residents enjoy a swimming pool, on-site laundry, and 20 gated parking spaces, delivering a full 1:1 parking ratio, while separately metered gas and electric limit ownership's utility exposure. A non-conforming ground-floor space currently used for storage offers a potential ADU conversion opportunity for added income. Priced at $5,200,000 — $273,684 per unit and just $292 per square foot, below the $337 per square foot comparable average and below the adjacent 936 N Orange Grove trade — the offering delivers a 5.64% current capitalization rate and a 10.70 GRM, with approximately 23% in rental upside achievable through natural turnover, supporting a 7.68% capitalization rate. For a long-term owner, the combination of oversized floor plans, an irreplaceable West Hollywood location, and a materially below-market rent roll presents a rare opportunity to acquire scale in one of Los Angeles County's most supply-constrained rental markets. Investment Highlights: • 1st Time to be sold in over 38 Years! • 1 Non-Conforming Unit Currently Used As Storage - Potential ADU Opportunity! • Property Offers Swimming Pool, On Site Laundry & Parking For Tenants
Market Context
This multifamily in West Hollywood, CA is listed for sale. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in West Hollywood, CA — view the full market.
Contact
- Tony Azzi · (310) 909-5454 · tony.azzi@marcusmillichap.com
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