937 Hilldale Ave - Apartments FOR SALE


West Hollywood, CA 90069
$2,550,000 USD
310-968-7005
937 Hilldale Ave, West Hollywood, CA for Sale
$2,550,000 USD
Apartments - FOR SALE
1/10
null | 4.55% Cap Rate

937 Hilldale Ave
West Hollywood, CA 90069


HIGHLIGHTS

  • A+ West Hollywood location on a quiet Norma Triangle cul-de-sac, just steps from Sunset Blvd. and Doheny Dr.
  • Minutes from the Sunset Strip, Santa Monica Blvd., Melrose, the Pacific Design Center, Beverly Center, and Beverly Hills.
  • Just parcels from West Hollywood Elementary School, reinforcing the quieter residential feel of the Norma Triangle location.
  • Owned by the same ownership for nearly 40 years and well maintained over that period.
  • Over $500K in completed capital improvements, including the soft-story retrofit, new roof, new windows, and renovations to 5 of the 9 units.
  • Priced below recent nearby sales comps on a per-unit basis, with comparable West Hollywood sales ranging from $300,000 to $350,000 per unit.

OVERVIEW

937 N. Hilldale is a 9-unit West Hollywood complex 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, with tuck-under parking, horizontal windows, and clean stucco massing. Ownership has completed over $500K in capital improvements, including 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 $2,550,000, or $283,333 per unit and $360 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 nearly 70% rental upside, with projected rents near $2,750 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 major capital improvements already completed and meaningful rental upside still in place.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$360 USD /SF

# OF UNITS

9

PRICE/UNIT

$283,333

CAP RATE

4.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9 Units in Norma Triangle w/ 67% Upside

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

WDR2*

APN/PARCEL ID

4340-005-010

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-968-7005

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Kenny StevensCompassMore Info
310-968-7005

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.