East Hollywood $151/SF and 145K/door
This is what 145K/Door Looks Like.
At a glance
closed Aug 7 2026
initial ask
6.8% below ask
all 1-bed
per door
15,406 gross SF
What matters
- Closed at $2.325M ($145K/door, $151/SF, 10.5 GRM at current rents). Started asking at about 2.5M
- Rents look low at an average of $1,153/month across 16 one-bedroom units. Market on these with the building cleaned up and renovated units is $1800
- Built 1964. LARSO. Soft-story retrofit status is not in the record.
- 10.5 GRMThe buyer landed the deal for upside. At $145K/door and a 10.5 GRM. They need to get these units vacated and rent this build at market rents which gives them upside if they can achieve it.
Deal stats
The Location
Romaine Street sits in the interior of East Hollywood, the ZIP 90029 pocket that runs east of the 101 and north of Santa Monica Boulevard. The median household income of $56,640 means rent growth is hard here although this specific building has a lot of upside.
The Setup
Total building is 15,406 SF on a 9,743 SF lot.
Parking is 12 covered stalls.
4 units carry no parking.
The Math the Broker Was Pitching
The broker listed at $2.495M. CoStar confirms the 10.5 GRM is computed at close on current rents. Backing out the implied gross: $2,325,000 divided by 10.5 equals $221,429 in annual gross rent, or $1,153/month per unit. That is the rent roll this buyer purchased.
| Scenario | Avg Rent / Mo | Annual Gross | GRM at $2.325M |
|---|---|---|---|
| In-place (at close) | $1,153 | $221,429 | 10.5 |
| Submarket market rent (CoStar) | $1,856 | $356,352 | 6.5 |
| Broader market rent (CoStar) | $2,366 | $454,272 | 5.1 |
LOTS OF UPSIDE
What an Operator Sees
Four units have no covered parking. The record shows 12 for 16 units.
The owner has an opportunity to turn this into a cash flowing building.
I talked to the broker when this came out and offered around a 9 GRM because it had upside rent. Glad to see it got sold.
I research these transactions to sharpen my own investment strategy and share what I find so Los Angeles owners, brokers and investors can debate the market with better information.
Know one other LA owner who'd want this deal? Forward this — reply with their email and I'll add them.
Property and transaction data: CoStar Research.
Write to David Safai at David@AtlasBrief.La
Appeared in the Sept. 6, 2026 edition of The Tape.