West Hollywood Multifamily Investment
For Sale
$2,550,000
937 Hilldale Avenue, West Hollywood, CA 90069
Nine-unit apartment building in West Hollywood's Norma Triangle.
Property Size7,077 SF
Price / SF$360.32
Days on Market134
Property Features for 937 Hilldale Avenue
General Information
Standard status
Active
Size
7,077 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
WDR2*
Net Operating Income
$116,138
Amenities
Two
Wall/Window
Wall
Other
Attached
No
Building Details
Year Built
1957
Buildings
1
Stories
2
Units
9
Listing Agency:
Pinnacle Estate Properties, Inc.
Listed By:
Justin Shore · License #01715508
(818) 652-5824
Source:
Compass
Added: Apr 24
Changed: Sep 3
Last Checked: Jul 16 at 8:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pinnacle Estate Properties, Inc.
Investment Insights
Based on property information with market context.
This nine-unit apartment building is located in the Norma Triangle of West Hollywood. The property features a unit mix of seven one-bedroom, one-bathroom units of approximately 800 square feet, and two two-bedroom, one-bathroom units of approximately 1,000 square feet. A courtyard with a sitting patio and on-site laundry facilities are also present. Building features include a main boiler system, five carport parking spaces, separate gas meters, new energy and noise-efficient windows, high-security mailboxes, and security cameras. The location offers walkability to Santa Monica & San Vicente (The Troubadour, The Abbey), the Sunset Strip (Whisky a Go-Go, Key Club), Pavilions, Trader Joe’s, and numerous eateries and cafés. The property is fully occupied and benefits from an assumable loan. The transit score is 60, indicating good transit options, and the walk score is 91, designating it as a walker's paradise. The bike score is 29, indicating it is somewhat bikeable.
Key Highlights
- Prime West Hollywood Location: Exceptional walkability to Santa Monica & San Vicente, the Sunset Strip, Pavilions, and Trader Joe's.
- Strong Income Potential: Fully occupied with an assumable loan, providing immediate cash flow and attractive financing.
- Functional Unit Mix: Features (7) 1 bed / 1 bath and (2) 2 bed / 1 bath units.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$113,875
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,277,500
$2.3M
Cap Rate 7%
$1,626,786
$1.6M
Cap Rate 9%
$1,265,278
$1.3M
Market Conditions
NOI Build-Up for 7,077 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$225.0K $31.80/SF
− Vacancy
−$18.0K −$2.54/SF
EGI
$207.0K $29.26/SF
− OpEx
−$93.2K −$13.17/SF
NOI
$113.9K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,277,500
Cap Rate 7%
$1,626,786
Cap Rate 9%
$1,265,278
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.42M – $1.90M
NOI $113,875 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.32M – $4.42M
NOI $265,230 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 90069, CA
20,584
Population
15,160
Households
1.4
Avg Household Size
44
Median Age
72%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
9,356
Density / Sq Mi
$110,705
Median Household Income
$80,535
Median Earnings
$2,230
Median Rent
$1,085,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nine-unit apartment building in West Hollywood's Norma Triangle.
Where is this apartment building located?
The property is located at 937 Hilldale Avenue West Hollywood, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Prime West Hollywood Location: Exceptional walkability to Santa Monica & San Vicente, the Sunset Strip, Pavilions, and Trader Joe's.; Strong Income Potential: Fully occupied with an assumable loan, providing immediate cash flow and attractive financing.; Functional Unit Mix: Features (7) 1 bed / 1 bath and (2) 2 bed / 1 bath units.
