Five Unit Apartment Building at 945 Hilldale Ave Listed by Marcus and Millichap
FOR SALE
View more
$2,050,000
945 Hilldale Avenue, West Hollywood, CA 90069
3,870 SF
Square Feet
$530
PPSF
4.52%
CAP
Property Description
NOI
$92,559
Cap Rate
4.52%
Marcus and Millichap is pleased to present a five (5) unit apartment building located at 945 Hilldale Avenue in West
Hollywood, California. The subject property is situated in a prime Norma Triangle location, south of Sunset Boulevard
and west of Santa Monica Boulevard.
West Hollywood is a trendy area known for its high-energy nightlife and eclectic restaurants. The fabled Sunset Strip
features the Chateau Marmont, a swanky celebrity hideaway, plus comedy clubs and live music venues like the legendary
Whiskey a Go Go. Santa Monica Boulevard, awash in rainbow flags, is home to a number of gay bars, dance clubs and
shops. WeHo also offers some of the city’s most buzzworthy restaurants. The subject property is situated in Tri-West, a
relatively small neighborhood comprised of single-family homes and apartment buildings. Tri-West is the area north of Melrose Ave and south of Santa Monica Blvd, between the Pacific Design Center and La Cienega Blvd. The Pacific Design
Center is located less than a ten (10) minute walk west of the subject property and is adjacent to West Hollywood Park and
West Hollywood Library. The nearby West Hollywood Park includes grassy grounds, a playground, and a community pool. Tri-West provides residents with a plethora of amenities proximate to well-known commercial corridors. This safe little community provides small town charm in the heart of the big city.
The Norma Triangle is a residential neighborhood in WeHo, represented by the Norma Triangle Neighborhood Watch with
the main goals of creating a tight knit community, ensuring residents feel safe & secure, and voicing neighborhood concerns with the City Council members of West Hollywood. The neighborhood is walkable and upscale with cafes and restaurants, shopping, nightclubs, parks, and bars in close proximity. The Norma Triangle includes a small portion of the Sunset Strip with ample employment centers attracting a significant young professional tenant base. It is also home to the Ticketmaster corporate headquarters, the largest employer in West Hollywood, as well as a number of IAC/InterActiveCorp subsidiaries, including Tinder and CityGrid Media.
Built in 1923, this property contains a great unit mix of one (1) studio / one bathroom unit, one (1) studio / one-bathroom
ADU (newly converted), two (2) one bedroom / one bathroom units, and one (1) two bedroom / one bathroom house. Two
(2) units will be de livered vacant. Lush landscaping lines the front of the craftsman style building at the property, creating
a sense of privacy from the highly amenitized world of WeHo. Though there is on-site parking available, residents will enjoy
being within short distance to trendy entertainment, retail, and restaurants all located within blocks of the subject property
in all directions. Some of the closest include amazing stops along the world famous Sunset Strip: The Whisky A Go Go, The Roxy Theatre, The Viper Room, Rainbow Bar & Grill, Boxwood, Night + Market Weho, Book Soup, Shamrock Social Club, Tradesrogue, and many more. The West Hollywood Elementary School is adjacent to the site, and boasts some of the
highest test scores across low- and middle-income students throughout California. Less than half a mile south, tenants
will find outdoor recreation at the West Hollywood Park as well as other trendy destinations such as Revolver Video Bar,
Hi Tops Bard, Insomnia Cookies, Salt & Straw, Bottega Louie WEHO, WHO WHAT WEAR, and others.
Situated in a prime West Hollywood location, this offering presents an excellent opportunity for any investor to capitalize
on rental upside potential in a rare residential pocket of West Hollywood.
Property Details
Asset Type
MultiFamily
Year Built
1923
Zoning
WDR1B*
Lot Size
6,296 SF
Neighborhood
Norma Triangle
Submarket
West Hollywood
ZIP
90069
Listing Type
sale
30 years
10 years
Net Operating Income (NOI)
$146,845
Debt Service Coverage Ratio (DSCR)
1.26x
Cap Rate
7.16%
Cash Flow (Annual)
$30,229
Cash-on-Cash Return
5.90%
Monthly Debt Service
$9,718
Annual Debt Service
$116,617
View on Map
Address
945 Hilldale Avenue
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West Hollywood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.