The Dahlia 954 Palm Ave 52 Unit Apartment Building $28,834,891 CAD ($554,517 CAD/Unit) West Hollywood, CA 90069

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present The Dahlia (the “Property”) for sale — a 52-unit value-add investment opportunity located in the highly coveted Norma Triangle neighborhood of West Hollywood. Coming to market for the first time in over 25 years, this offering provides investors the chance to achieve a ±7.00% cash-on-cash day-1 with immediate upside potential in a submarket that has only seen 4 sales (20+ units) in the past 5 years.
Originally constructed in 1969, The Dahlia comprises a mix of studio, one-, two-, and three-bedroom units totaling 52 residences, averaging ±708 square feet. The Property spans a double-frontage lot along Hancock Avenue and Palm Avenue, offering multiple access points and efficient unit layouts well-suited to West Hollywood’s renter demographic. The offering features an accretive ±$12 million Fannie Mae loan assumption at a 2.54% interest-only rate, with maturity in Q4-2031, providing investors with a highly advantageous financing structure and excellent cost of capital in today’s environment. The 24 unrenovated units provide investors with a defined value-add path to drive rent growth and maximize performance. The Property also benefits from a newly installed roof and a secured parking garage with 65 spaces, supporting resident convenience and long-term durability.
Community amenities are anchored by four landscaped courtyards, including a main courtyard featuring a pool, jacuzzi, and expansive sun deck with scenic views, offering a distinctive lifestyle experience that resonates strongly with West Hollywood’s professional and entertainment-driven tenant base. Steps from Melrose Avenue’s retail and dining and Santa Monica Boulevard’s commercial corridor, The Dahlia offers a WalkScore of 90 (“Walker’s Paradise”) with Trader Joe’s and daily conveniences nearby. Centrally located between Hollywood and Century City, the Property benefits from sustained tenant demand and strong market fundamentals, providing a prime platform for further
upgrades and operational enhancements to capture meaningful upside in West Hollywood’s premier submarket.