945 Hilldale AveWest Hollywood, CA 90069

This exceptional 5-unit apartment building, situated in West Hollywood's desirable Norma Triangle, presents a compelling investment opportunity. Built in 1923 and boasting 3,870 square feet on a 6,296 square foot lot, the property comprises two buildings with two stories each. The unit mix includes one studio/one bath, one studio/one bath ADU (newly converted), two one-bedroom/one-bath units, and one two-bedroom/one-bath house. Two units will be delivered vacant, offering immediate rental upside potential. The property features on-site parking for five vehicles and lush landscaping. Its prime location offers proximity to the Sunset Strip, renowned restaurants, entertainment venues, and the West Hollywood Park. The property benefits from its adjacency to West Hollywood Elementary School, known for its high academic performance. A soft-story retrofit was completed in 2022. The asking price is $2,050,000, representing a price per unit of $410,000, a price per square foot of $529.72, a current NOI of $92,559, and a pro-forma NOI of $127,539. The current cap rate is 4.52%, with a pro-forma cap rate of 6.22%. The property's permitted zoning is WDR1B. This offering presents a rare chance to acquire a well-located multifamily property in a highly sought-after West Hollywood neighborhood with significant rental growth potential.