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Cosmopolitan Apartments 884 Palm Ave 29 Unit Apartment Building $19,347,920 CAD ($667,170 CAD/Unit) 4.94% Cap Rate West Hollywood, CA 90069
Executive Summary
Cosmopolitan Apartments offers a prime multifamily investment opportunity in the heart of West Hollywood, just steps from Santa Monica Boulevard. The property combines stable in-place income with upside potential through rent optimization, positioned in a high-demand, supply-constrained rental market with strong long-term fundamentals. Ideal for investors seeking either a value-add opportunity or a stable hold in one of Los Angeles’ most desirable submarkets.
Property Facts
| Price | $19,347,920 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $667,170 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.52 AC |
| Cap Rate | 4.94% | Building Size | 33,802 SF |
| Gross Rent Multiplier | 11.66 | No. Stories | 3 |
| No. Units | 29 | Year Built | 1989 |
| Property Type | Multifamily | Parking Ratio | 1.77/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4, West Hollywood - R4 zoning allows higher-density multifamily residential development, supporting apartment use consistent with surrounding West Hollywood properties. | ||
| Price | $19,347,920 CAD |
| Price Per Unit | $667,170 CAD |
| Sale Type | Investment |
| Cap Rate | 4.94% |
| Gross Rent Multiplier | 11.66 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.52 AC |
| Building Size | 33,802 SF |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | R4, West Hollywood - R4 zoning allows higher-density multifamily residential development, supporting apartment use consistent with surrounding West Hollywood properties. |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Eat-in Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Gated
- Elevator
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 650 - 900 |
| 2+1 | 5 | - | 800 - 1,100 |
1 1
Very walkable
80/100
Fairly drivable
50/100
Good public transit
70/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 4339-010-060 | Improvements Assessment | $7,345,148 CAD |
| Land Assessment | $13,952,329 CAD | Total Assessment | $21,297,477 CAD |
Property Taxes
Parcel Number
4339-010-060
Land Assessment
$13,952,329 CAD
Improvements Assessment
$7,345,148 CAD
Total Assessment
$21,297,477 CAD
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Cosmopolitan Apartments | 884 Palm Ave
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