8261 Norton Avenue
Los Angeles, CA, 90046
$3,100,000
MLS: 26102226
Beds
12
Baths
12
Sq Ft
7,440
Lot
0.17 ac
Year Built
1955
MLS #
26102226
Days on Market
4
Listed
Oct 14, 2026
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.
Location
Los Angeles, Los Angeles County, CA 90046
Open on Google Maps ↗Listed by: Elliot Hassan · NorthMarq Realty Services, Inc.
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$24,009
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $310,000 · Loan: $2,790,000
Average 30-yr fixed rate 7.40% as of Oct 15, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $19,317
- Property tax (1.25%)
- $3,229
- Homeowners insurance
- $300
- Mortgage insurance
- $1,163
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 15, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.71%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Los Angeles home with as little as 3.5% down using an FHA loan — roughly $108,500 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
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Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
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