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Five Unit Apartment Building at 945 Hilldale Ave Listed by Marcus and Millichap

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

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.

Contact the Listing Team

Jason Tuvia

Jason Tuvia

Senior Managing Director Investments

42 closed

Call
Nick Mejerski

Nick Mejerski

Associate Director Investments

5 closed

Call

Send a Message

Jason Tuvia

Jason Tuvia

Senior Managing Director Investments

42 closed

Call
Nick Mejerski

Nick Mejerski

Associate Director Investments

5 closed

Call