937 Hilldale Ave · West Hollywood, CA 90069

$2,550,000

11 bd · 9.0 ba · 7,077 sqft · MultiFamily public records · 9 Days on market

Built 1957 7,017 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.7/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Appreciation +5.4/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

937 N. Hilldale Ave. brings together a Norma Triangle cul-de-sac location, completed capital improvements, and nearly 67% rental upside steps from Sunset Blvd. and Doheny Dr. Located in the heart of West Hollywood, the property places residents minutes from the Sunset Strip, Santa Monica Blvd. , Melrose Ave. , Melrose Pl. , the Pacific Design Center, Beverly Center, and Beverly Hills. Built in 1957, the building reflects the classic LA dingbat apartment style with tuck-under parking, horizontal window lines, clean stucco massing, and a straightforward mid-century profile. The property has been owned by the same ownership for 38 years and has benefited from meaningful capital improvements, i

Key facts

• Soft-story retrofit
• Tuck-under parking
• New roof

Tags

• COMPLETED CAPITAL IMPROVEMENTS
• SOFT-STORY RETROFIT
• NEW ROOF
• NEW WINDOWS
• RENOVATIONS TO UNITS
• TUCK-UNDER PARKING

Property features AI

Finance

• Other: Property offered As Is
• Financial info: Gross income: 190,212; Gross operating income: $185,457; Net operating income: $116,138; Total annual expenses: $69,319; Gross rent multiplier: 13.41; Rent control: Yes; Vacancy rate: 0%; Vacancy allowance: 2.5%; Income reported as Scheduled
• HOA & community: 9 units in the complex

Exterior

• Parking: Tandem garage; Total of 5 parking spaces
• Home design: Residential income property; One building; Two stories; Attached; Zoned WDR2*
• Exterior features: Located at the end of a cul-de-sac; No alley; No other structures on the property

Interior

• Bedrooms: Two 2-bedroom units; Seven 1-bedroom units
• Bathrooms: Units include 1 bathroom each
• Heating & cooling: Wall heat; Wall/window unit cooling
• Interior features: Attached building; Two-level building

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.2-bath units multifamily listed at $2.55M.

Deal economics

• At list price, monthly cash flow is $7k ($83k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.55M).
• Cap rate 9.5% vs local median 1.5% in West Hollywood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#239 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety C-, crime F, cost of living F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.5%/yr); 383 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $28,844/mo this rent would consume 321% of the median local household income ($108k/yr) (locally 2412% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($18k loan paydown + $19k appreciation (0.8% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.8% appreciation + 0.0% rent growth), your $714k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$177k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $460k; list at $2.55M implies a 454% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,550,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.57%
• DSCR: 1.51
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.76% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.52×
• Total profit: $371,593
• Equity at exit: $839,141

10-year hold

• IRR: 12.8%
• Equity multiple: 2.40×
• Total profit: $1,001,982
• Equity at exit: $1,091,265

Cash invested: $714,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90069

• Home prices YoY: 0.2%
• Rents YoY: -0.5%
• Active inventory: 383
• Price-to-rent: 29.5×

Monthly cashflow live

• Estimated rent: $28,844 high
• Mortgage (P&I): −$13,372
• Tax from tax record: −$1,466 /mo · $17,591/yr
• Insurance: −$1,062
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,057
• Net cashflow: $6,886

Break-even live

Break-even rent $20,128

Max offer price $2,550,000

Occupancy floor 71%

Sensitivity live

Price	-10% $8,329	-5% $7,608	+0% $6,886	+5% $6,164	+10% $5,442
Rent	-10% $4,607	-5% $5,747	+0% $6,886	+5% $8,025	+10% $9,165
Rate	-1.0pp $8,170	-0.5pp $7,534	base $6,886	+0.5pp $6,225	+1.0pp $5,553

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	2.2	$28,844
Total (4 units)			$28,844

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $637,500
• Closing costs: $76,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $2,550,000 Active 9 DOM
2. 2026-06-18
   days on market $2,550,000 Active 6 DOM
3. 2026-06-17
   days on market $2,550,000 Active 5 DOM
4. 2026-06-16
   days on market $2,550,000 Active 4 DOM
5. 2026-06-15
   days on market $2,550,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $2,550,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $17,591 · $1,466/mo
• Projected year-2 tax: $19,380 · $1,615/mo
• Expected delta: +$1,789/yr (+$149/mo · 10.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 8 d/yr ≥88°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $346,128
• − Mortgage interest: −$142,840
• − Property taxes: −$17,591
• − Insurance: −$12,750
• − Repairs & maintenance: −$27,690
• − Management: −$27,690
• − Depreciation: −$74,182
• Taxable income: $43,385
• Est. tax owed @ 24.0%: −$10,412
• After-tax cash flow: $72,218/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — West Hollywood

• Score: 70/100
• State rank: #239
• US rank: #7852

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hollywood, CA
• County: Los Angeles County · 9,444,647 people
• City population: 20,961
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 20,961
• Household income: $107,987
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2412.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 8% Two or more races 8% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Scotch-Irish 6% Lithuanian 4% Italian 4%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 7% Other Indo-European 4% Russian/Polish/Slavic 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.76%
• Current HPI: 323.1842
• Rent YoY: ▼ -0.54%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+454.3% since first listed

2 events — show timeline

• 2026-06-12 Listed $2,550,000 TheMLS
• 1984-06-06 Sold (Public Records) $460,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $17,591 · +3.0% YoY. Source: county tax records.