West Hollywood Multifamily Broker
Whether you’re selling a value-add 6-unit apartment building off Fairfax Ave or a trophy asset near the Sunset Strip, our data-driven marketing and established buyer relationships help owners maximize value while navigating a smooth, well-managed sale process.
West Hollywood Multifamily Market Snapshot
West Hollywood is one of the most tightly regulated and structurally unique multifamily markets in Los Angeles. As an independent city with strict rent stabilization, limited developable land, and a renter-heavy population, the submarket has long favored long-term ownership over frequent turnover. Apartment buildings here are typically smaller, older, and heavily rent-controlled, which naturally constrains supply and creates durable value for well-positioned assets.
In recent years, the market has experienced a clear split between newer, high-quality construction and the broader base of legacy buildings that make up the majority of West Hollywood’s inventory. Newly delivered and renovated properties—primarily concentrated along Santa Monica Boulevard and other major corridors—have captured most of the recent leasing activity, while older rent-controlled buildings continue to trade based on long-term fundamentals rather than short-term rent growth. This dynamic has resulted in relatively stable occupancy across the market, even as rent growth has remained muted.
Despite higher interest rates and a slowdown in overall transaction volume, buyer demand in West Hollywood has remained resilient. The most active buyers tend to be private investors, repeat operators, and owner-users who understand the nuances of the city’s rent control ordinance and are comfortable underwriting gradual, long-term cash flow growth. Pricing has adjusted from peak levels, but values have largely stabilized as expectations between buyers and sellers have realigned.
New supply remains modest relative to the size of the market, and zoning restrictions continue to limit large-scale development outside of select transit-oriented areas. As a result, well-located multifamily assets—particularly those with strong in-place operations or clear repositioning paths—continue to attract competitive interest. In West Hollywood, success is less about timing the market and more about understanding how regulation, tenant composition, and micro-location intersect to drive long-term value.
AVG CAP RATE
4.8% - 5.2%
AVG PRICE PER UNIT
$350,000 - $420,000
VACANCY RATE
5.7%
RENTAL GROWTH
0% YoY
Our Recent Multifamily Sales in West Hollywood
1643 N Formosa Ave, West Hollywood, CA 90046
Sold for $2,067,500 | 8 Units Built in 1956
After nearly 25 years under the same ownership, the sellers of 1643 N Formosa Ave were frustrated with the day-to-day management of owning apartments and decided that it was time to move on. They had previously listed their 8-unit multifamily with another large brokerage, but they were unable to generate offers that met the sellers’ expectations. In the hopes of finally getting the building sold, they interviewed our group. After meeting with us and reviewing our valuation & marketing strategy, they selected us for our deep track record in the submarket, recognizing that we are one of the top multifamily brokers in West Hollywood.
We listed this 8-unit and received immediate attention, with 5 offers in just the first 2 weeks. We ultimately sourced a 1031 exchange buyer that was seeking a multifamily investment in a prime pocket of LA, and we were able to negotiate an all-cash deal for our sellers with few contingencies and a quick 30-day close.
Our clients were then able to exchange the proceeds from the sale of their apartment building into an out-of-state retail investment, greatly improving their cash flow and quality of life. Overall, the sellers were extremely pleased with the outcome, as were we.
1016 N Laurel Ave, West Hollywood, CA 90046
Sold for $3,275,000 | 10 Units Built in 1963
Our seller was an elderly, retired attorney who had purchased his 10-unit West Hollywood apartment building with his sister nearly 45 years ago. As a long-term owner of LA multifamily real estate, our client had never ventured into other asset classes. Upon his sister’s passing, he was facing several major issues with his Laurel Ave property: Strict West Hollywood rent control was dampening his monthly return, the 3rd party management company was overspending on repairs, and a COVID eviction moratorium resulted in several non-paying tenants and routine rent freezes.
Given this unfortunate situation, our client agreed that a 1031 exchange into a 100% passive DST (Delaware Statutory Trust) would be the perfect vehicle to preserve & grow his equity and leave a simpler estate to his heirs one day in the future.
Within one week of listing Laurel Ave for sale, we secured an above-ask offer from the owner of the neighboring asset, and executed a smooth 60-day closing for record breaking pricing north of 18 GRM and in the 3% cap rate range.
1146 N Formosa Ave, West Hollywood, CA 90046
Sold for $2,250,000 | 8 Units Built in 1956
This charming 8-unit mid-century apartment building was owned and operated by three sisters for several decades. After many years of ownership, they decided that it was time to sell off the asset and individually 1031 exchange their proceeds into better suited investments.
The owners of 1146 N Formosa Ave interviewed our team along with one other highly active West Hollywood apartment broker, but chose us for our pricing, expansive buyer network and overall track record within West Hollywood city limits.
Within 2 weeks of taking on this listing, our team was able to generate an all-cash offer from the owner of one of the adjacent lots, executing on a smooth 30-day escrow. Despite low rents and high interest rates, we were able to achieve multiple all-cash offers and an extremely aggressive closing price. The final closing metrics were a 3.96% cap rate and 15.25 GRM, which were significantly above market averages at the time.
Overall, the sellers were ecstatic with their choice to hire The Glaser Group.
Meet Your West Hollywood Multifamily Expert
Jake Glaser: Top 1% Los Angeles Apartment Agent
Jake Glaser is the Principal Broker & Founder of The Glaser Group, specializing in the sale of apartment buildings in West Hollywood & Greater Los Angeles. Jake is one of the highest transacting apartment building brokers in LA, with over $65 million closed in 2025 alone across 35 transactions. He advises his clients in the acquisition and disposition of multifamily properties across the city, ranging from 4-plexes up to large apartment complexes in the $1M - $25M range. In total, he has closed over $215 million of commercial and multifamily volume within LA County, and he is the #1 producing agent at Lyon Stahl Investment Real Estate in Century City.
In addition to multifamily and commercial dispositions, he specializes in 1031 exchanges on a national level, having helped countless clients reposition their portfolios by trading their assets into local and out-of-state multifamily, triple-net, and DST opportunities.
Let’s connect today to start an honest, open dialogue about your unique situation to see how we can better your position, whether it be now or in the future.
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Most multifamily properties in West Hollywood are subject to the city’s Rent Stabilization Ordinance (RSO), which regulates annual rent increases and outlines requirements related to tenant relocation, capital improvements, and vacancy decontrol. As a result, property values are heavily influenced by in-place rents, tenant profiles, and long-term income stability rather than short-term rent growth.
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West Hollywood’s multifamily inventory primarily consists of small to mid-sized apartment buildings, many of which were built prior to modern rent control exemptions. Properties often feature higher density, limited parking, and strong walkability, making location and tenant demand key drivers of investor interest.
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West Hollywood is a supply-constrained submarket with consistently high rental demand and limited new development. Investor competition is driven by its central location, proximity to major employment centers, and long-term housing demand, resulting in strong pricing despite regulatory considerations.
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Valuations in West Hollywood are based on a combination of in-place income, comparable sales, price per unit metrics, and long-term market fundamentals. Because rent control limits near-term income growth, buyers place significant emphasis on rent rolls, tenant turnover potential, and regulatory compliance when underwriting properties.
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Owners should carefully evaluate tenant composition, rent control status, and potential relocation obligations prior to selling. Understanding how these factors affect buyer demand and pricing is critical, as properly positioned tenant-occupied properties can attract strong investor interest when marketed with accurate expectations and compliance considerations in mind.
Frequently Asked Questions About West Hollywood Multifamily
Curious what an apartment building in West Hollywood could sell for?
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Looking for multifamily expertise beyond West Hollywood? Visit our Los Angeles Multifamily Broker page to explore other submarkets we serve.