Property Detail

8261 Norton

Los Angeles CA 90046

$3,100,000

Status: Active

Property Details

Description

8261 Norton Avenue is an eight-unit apartment building in the heart of West Hollywood, offered at $3,100,000 ($387,500 per unit, $417 per square foot) as a 100% fee simple interest on a free and clear basis. Built in 1955, the two-story building sits above tuck-under parking with additional rear parking, on a 7,351-square-foot lot with approximately 7,440 square feet of gross building area. It offers four one-bedroom, two two-bedroom/two-bath and two three-bedroom/two-bath residences averaging roughly 877 square feet, a family-sized mix that is increasingly rare in West Hollywood's older rental stock. Ownership has already done the heavy lifting: four of the eight units are fully renovated, the exterior features a crisp, modern two-tone facade, and significant capital improvements have been completed, so a new owner can focus capital on revenue-generating interiors rather than deferred maintenance. Renovated units include white flat-panel cabinetry, stone-look counters, stainless steel appliances with gas ranges, wood-look plank flooring, ceiling fans, mirrored closets, updated baths and in-unit washers and dryers in select residences. Inside the property, open-air walkways with wrought-iron railings lead to private unit entries, and an on-site laundry facility serves residents. Seven units are occupied, with one two-bedroom vacant and ready to lease at market. Scheduled rents average about $2,842 per unit against market rents of $3,288, roughly 14% loss-to-lease, and three one-bedrooms leased about $1,000 below the $2,750 market rent represent roughly $36,000 in annual upside on their own. Two units already lease above pro forma, supporting achievable market rents, and under the West Hollywood Rent Stabilization Ordinance, rents can generally be reset to market as units turn over. The property offers a 5.74% current cap rate, 5.95% in Year 1 and 6.81% at market, with net operating income growing from $177,988 today to $184,354 in Year 1 and $211,170 at market rents, an increase of nearly 19%. Current expenses of $89,149 (about $11,144 per unit) include taxes reassessed at the purchase price, with no on-site payroll. The property's cap rate sits about 70 basis points above the 5.03% average of nine recent West Hollywood sales, and its 11.36 GRM is below the 12.82 comparable average. Located between Fountain Avenue and Santa Monica Boulevard, the property puts residents within walking distance of shopping, dining and daily services, minutes from the Sunset Strip, Melrose Avenue and the Design District, and close to employment hubs in Hollywood, Beverly Hills and Century City. With limited new supply, a high-income renter base and steady demand from creative professionals, West Hollywood remains one of Southern California's most resilient rental markets, and its celebrated restaurants, galleries, nightlife and nearby Hollywood Hills trails give renters every reason to stay. The property is available individually or as part of a 23-unit, three-building portfolio with two additional Hollywood assets, making it ideal for 1031 exchange buyers, value-add operators and long-term investors. Tours by appointment only; please do not contact residents or on-site management.

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Listing provided courtesy of Elliot Hassan of NorthMarq Realty Services, Inc.. Last updated 2026-11-04 09:10:55.000000. Listing information © 2025 CRMLS.

Ever Eternity

Ever Eternity

CA DRE# 01794748

1111 Prospect St, Suite 100 La Jolla,
​​​​​​​CA 92037

858.688.4113

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Welcome

Meet Ever

Ever Eternity is Your Local Real
Estate Professional

Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

People choose to work with me for my full service expertise, experience and ethics. My base of loyal customers is the reason I am successful in this competitive sales market.

​My attention to detail allows me to find dream homes for buyers, and build thorough home marketing plans for my sellers. I have great pride in my negotiation skills and believe in transparency and full disclosure throughout each deal. I value open communication with my clients and welcome questions from start to close.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

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"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"Ever has been my agent through two purchases and one sale. He has a keen sence of the market and knows how best to price and time sales and purchases. He makes sure to get the job done and places the most importance on making his satisfying his clients wishes to the best of his ability. He works well with escrow, property managers, and whomever he needs to speak with."

"Working with Ever was a joy. We had a number of unexpected challenges during the process of selling our house and Ever was consistently there to help, guide, and support us. He was always available for consultation and never lost sight of the immediate issues nor the long term goals. Ever was an exemplary professional in every way and I would highly recommend him."

"Working with Ever was a great experience. Selling our Mom's house was emotionally difficult for us. Ever guided us thru the process and made it smooth and easy as possible for us. He responded to all of our questions with professionalism and knowledge. He kept us informed of every action during the sale. We trusted his advice and insights and he delivered on everything he said. The sale was quick and smooth and we couldn't be happier. We highly recommend Ever. He definitely knows his business."

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