$3,850,000
7916 Santa Monica Boulevard, West Hollywood 90046
2
Baths
7,696
Square feet
6,252
Lot Size
9
# Of Units
Listing Agent
Neema Ahadian - Marcus & MillichapThis is a mixed-use retail and residential investment opportunity in an irreplaceable West Hollywood location at 7916 Santa Monica Blvd, located just off of N Fairfax Ave that is surrounded by high-end amenities in a premier submarket.The subject property features three retail spaces on the ground floor of the building (approximately 1,250- 1,300 SF each) and six spacious single residential units on the top floor (approximately 650 SF) with five parking spaces at the rear of the property. The building is 100% occupied, providing consistent cash flow to an investor; short-term retail leases provides flexibility in the lease-up strategy; current tenants include a wellness center, art studio, and vacuum and sewing business. Substantial rental upside of over 102% in the residential rents, achievable over time with interior renovations as units turn. Close proximity to desirable amenities such as the Whole Foods on Santa Monica Blvd & Fairfax Ave, Delilah Los Angeles, Ysabel, and Laurel Hardware, among others. Incredible walk score of 97; four metro local line bus stops are located on the corner of Santa Monica Blvd & Fairfax Ave. Dense, infill location with a population of over 826,000 in a five-mile radius, retail tenants benefit from the foot traffic along Santa Monica Blvd as well as the traffic volume of over 45,000 vehicles per day. Opportunity to acquire a generational location with a diversified stream of income with retail and residential; the city of West Hollywood remains one of the most coveted submarkets for both asset classes.
Facts & Features
MLS® # | 24380821 |
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Price | $3,850,000 |
Bathrooms | 2.00 |
Square Footage | 7,696 |
Lot Size | 6,252 |
Year Built | 1925 |
Type | Residential Income |
Status | Active |
# Of Units | 9 |
Community Information
Address | 7916 Santa Monica Boulevard |
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Area | C10 - West Hollywood Vicinity |
City | West Hollywood |
County | Los Angeles |
Zip Code | 90046 |
Amenities
Parking | One Space |
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Garages | One Space |
Is Waterfront | No |
Has Pool | No |
Interior
Heating | None |
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Cooling | None |
Has Basement | No |
Fireplace | No |
# of Stories | 3 |
Stories | Multi/Split |
Additional Information
Date Listed | April 1st, 2024 |
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Days on Market | 45 |
Zoning | WDC2A* |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Neema Ahadian |
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Office | Marcus & Millichap |