7506 Norton Avenue

Offering Highlights

  • Offer Price:

    $1,700,000

  • Price/SF:

    637.90

  • Price/Unit:

    283,333

  • NOI:

    71039

  • Units:

    6

  • Net Reantable Area:

    2665

  • Cap Rate:

    4.18%

  • GRM:

    14.90

  • Status:

    Active

Property Overview:

The Liberow Group is pleased to present for sale 7506 Norton Ave, a Bungalow Style property built in 1924, located in a desirable West Hollywood neighborhood.

Situated on a 7,703 sq ft lot, the property consists of 2,665 rentable square feet and features a total of Six (6) 1 Bed/ 1 Bath units. Located just off Vista Street and Santa Monica Blvd and rated 92 on Walkscore, residents can enjoy convenient access to an array of restaurants, grocery stores, parks and high-end entertainment, as well as excellent schools nearby rated 9/10 (rating by GreatSchools.org).

This property has been under the same ownership for over 32 years and is an excellent opportunity for investors looking for significant upside potential; by repositioning the asset through renovations of both the interior and exterior, buyers will be able to significantly drive rents up all whilst establishing a higher value of the property.

Highlights:

Exceptional Area Demographics – The average Annual Household Income in Hollywood is $100,258 within a 1-Mile Radius from The Subject Property.

Excellent Walkability – This property is a “Walker’s Paradise”, with a walk score of 92. It is conveniently located next to an abundance of local shopping, dining & entertainment.

Future Upside Potential – This property has roughly 30% +/- in rents which could be captured by renovating and repositioning the units.

Features 5 Garages – There are 5 garages on-site, currently being used/rented for storage.

Well-Located Property – The property offers convenient access to all of the best that West Hollywood, the Sunset Strip, and Hollywood has to offer.

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