945 Hilldale Ave West Hollywood , CA 90069
Active
$1,850,000
10%
5 Units
3 Beds
5 Baths
3,486 Area(sq.ft.)
6,221 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | studio | 1 | No | $ 1,376 | $ 1,376 | $ 2,300 |
| Unit 2 | 1 | studio | 1 | No | $ 2,300 | $ 2,300 | $ 2,300 |
| Unit 3 | 1 | 1 | 1 | No | $ 1,161 | $ 1,161 | $ 2,600 |
| Unit 4 | 1 | 1 | 1 | No | $ 2,600 | $ 2,600 | $ 2,600 |
| Unit 5 | 2 | 2 | 1 | No | $ 4,182 | $ 4,182 | $ 4,950 |
| 5 | 6 | 6 | 6 | $ 15,801 | $ 15,801 | $ 19,700 |
| MLS #: | 24-442219 |
| Days On Market: | 94 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 531 |
| Price per unit: | $ 370,000 |
| Year Built: | 1923 |
Property Details
We are 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's 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 Ticket -master 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 delivered 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 GoGo, The Roxy Theatre, The Viper Room, Rainbow Bar & Grill, Boxwood, Night + Market Weho, Book Soup, Shamrock SocialClub, 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 LouieWEHO, 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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 60% |
| Gross Operating Income: | $ 137,635 |
| Total Annual Expense: | $ 40,247 |
| Net Operating Income: | $ 93,259 |
| Gross Annual Income: | $ 137,635 |
| Cap Rate: | 5.04% |
| Gross Rent Multiplier: | 13.44 |
Structure
| Type of Units: | Market |
| Buildings: | 2 |
| Levels: | Two |
| Security Features: | Fire and Smoke Detection System, Smoke Detector |
| Style: | Spanish |
| View Description: | City |
Land & Parking
| Zoning: | WDR2 |
| Parking Garage: | Driveway, Parking Space, Uncovered, Unassigned |
Interior
| AC/Cooling: | Air Conditioning |
| Equipment: | Dishwasher, Refrigerator, Freezer, Range/Oven |
| Heating: | None |
| Kitchen Features: | Marble Counters, Counter Top |
| Patio Features: | Porch, Porch - Front |
Exterior
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