It’s possible, fairly easy too. I am running Visual Studio 2013.
Highlight Web project from your Solution Explorer.
Under “View” menu, click on “Properties Window” (CTRL + W, P). Then, change “SSL Enabled” property to True
The first you run the web application, you will be shown a warning message that you run on SSL. Then, Security Warning message to install certificate, just “Yes” it out.
You can now browse to HTTPS of the web app by clicking on the IIS Express. The port of HTTPS address may be different than non-SSL.
Your browser may show untrusted SSL certificate. If you prefer trusted SSL certificate, you can generate this yourself. How to Create Valid and Trusted SSL Certificate (Wildcard) for Development.
For configuring IIS-hosted WCF to run on SSL, see Configure IIS-Hosted WCF to Run On SSL.