REDUCED! WeHo - 8 Units - Nightlife Central!

866 Hilldale Avenue, West Hollywood, CA

$3,899,000

Price

4.94%

Cap Rate

$192,548

NOI

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Street
Map
Overview
Cap Rate
4.94%
NOI
$192,548
Building Size
7,782 sqft
Lot Area
7,244 sqft
Occupancy
87.5%
Class
B
Units
8
GRM
13.63
Year Built
1957
Zoning
WDR3A*
Floors
2
Parking Spots
8
Year Last Renovated
2020
Parking Ratio
1
Description

REDUCED! Partners CRE is proud to exclusively present for sale a lovingly maintained 8 Unit Apartment Building in an A+ West Hollywood location sandwiched between Santa Monica Blvd. and the Sunset Strip!

The Building boasts large units, each with a parking space. The area has Permit Parking to benefit multi-car households. This building does not keep vacancies for long. Ownership is keeping a vacant unit to facilitate showings.

With the neighborhood being as desirable as they get, Walk Score calls this location a Walker’s Paradise! A skip and a hop to dining, nightlife, shopping and just about anything that a tenant may want, the property also sits north of West Hollywood Park, with a swimming pool, tennis courts, dog park and library.

Steps to The Abbey, Bottega Louie, Rocco’s, Pavilions Supermarket, Fiesta Cantina, Tender Greens, Whisky A Go Go, Rainbow Bar & Grill, The Roxy Theatre…come to WeHo and have no reason to leave!

Management has updated the building’s plumbing, electrical, stucco, appliances and much more. Some units have washers and dryers.

Ownership will cooperate with any Buyer interested in the existing Assumable Loan ($2.3m @ 5.35% interest only).

All newer tenants except for one long-term, low paying tenant with no plans to move out. The building features gated parking with coded entry and security cameras.

Highlights
  • A+ West Hollywood location! Restaurants, nightlife, hotels, spas, markets…too much to mention!
  • Central. Central. Central. Sandwiched between Santa Monica Blvd. and the Sunset Strip. In the middle of one of the most in-demand night life areas!
  • 4 large 1+1 units and 4 2+1 units
  • 8 Parking Spaces and Permit Street Parking
  • Many upgrades to building including plumbing, electrical, stucco, appliances and much more
  • Assumable debt of approximately $2.3m at 5.35% interest only
Documents
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