Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

9

Building size

7,077 sqft

Lot size

7,017 sqft

Year built

1957

Stories

2

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

View

None

Status

Active

Days on market

115

MLS #

243706981

About this property

937 N. Hilldale Ave. is a 9-unit West Hollywood offering on a quiet Norma Triangle cul-de-sac, just steps from Sunset Blvd. and Doheny Dr. The property gives residents the quieter feel of a residential side street while placing them minutes from the Sunset Strip, Santa Monica Blvd., Melrose, the Pacific Design Center, Beverly Center, and Beverly Hills. Held by the same ownership for 38 years, the building has been well maintained and improved over time. Built in 1957, the property reflects the classic LA dingbat style. Improvements include the soft-story retrofit, new roof, new windows, and renovations to 5 of the 9 units. These upgrades reduce near-term capital exposure and allow a buyer to focus on interior turnover, lease-up, and rent growth. Offered at $2,500,000, or $277,778 per unit and $353 per SF, 937 N. Hilldale Ave. is priced below recent nearby West Hollywood sales comps on a per-unit basis. The unit mix includes (2) 2-bdrm. / 1-bath units and (7) 1-bdrm. / 1-bath units. Market rents support approx. 60% rental upside, with projected rents near $2,650 for 1-bdrm. units and $3,500 for 2-bdrm. units. 937 N. Hilldale Ave. gives investors a well-maintained 9-unit building in one of West Hollywood's most recognizable rental pockets, with completed improvements and meaningful rental upside still in place.

Location

937 Hilldale Avenue

West Hollywood, Los Angeles, CA, 90069