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$2,500,000
Est. payment /mo
7,077 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,077 sqft
Price per Sqft $353
MLS Listing ID CL26847091
HOA Y/N No
Year Built 1957
Lot Size 7,017 Sqft
Acres 0.1611
Property Sub-Type Other
Property Description
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
State CA
County Los Angeles
Zoning WDR2*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 4340005010
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Listed by Kenny Stevens • Compass
NEARBY SCHOOL & BUSINESS
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