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945 Hilldale Avenue

945 Hilldale Avenue, West Hollywood, CA, USA

For Sale

$1,850,000

Property Details

Property Type

Multifamily

Units

5

Price Per Unit

$370,000

Contact Agent

Jason Tuvia | Nick Mejerski

818.212.2735

Price Per SF

$478.04

Cap Rate

5.04%

GRM

13.44

Property Description

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 rain -

bow 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 lit -

tle 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 sub -

sidiaries, 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 Location

945 Hilldale Avenue, West Hollywood, CA, USA

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