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Neema Ahadian
Marcus & Millichap
310-909-5500
This 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.
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Total Bedrooms : 0
Total Baths: 9
Full Baths: 0
Half Baths: 0
None
Air Conditioning
None
Has Heating
Year Built: 1925
Building Area Total: 7,696
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1435
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6252
Original List Price: 3,850,000
Listing Contract Date: 2024-04-01
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5529009028
Garage Description: One Space
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C10 - West Hollywood Vicinity
Postal Code Plus 4: 5171
Directions: Located south west corner of N Fairfax Ave and Santa Monica Blvd
Zoning: WDC2A*
Source Property Type: Residential Income
Area: C10 - West Hollywood Vicinity
Property Age: 99
Year Built Source: Vendor Enhanced
Total Square Feet Living: 7696
Levels or Stories: Multi/Split
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
7972 Norton Avenue, West Hollywood, CA,90046 | $3,600,000 | 11 | -- | 7,484 | 7461 Sqft |
Grandview Drive, West Hollywood, CA,90046 | $189,000 | -- | -- | -- | 4830 Sqft |
918 N La Jolla Avenue, West Hollywood, CA,90046 | $5,275,000 | 4 | 4 | 3,566 | 6110 Sqft |
1316 Havenhurst Drive, West Hollywood, CA,90046 | $6,950,000 | 28 | -- | 17,374 | 15571 Sqft |
1356 N Ogden Drive, West Hollywood, CA,90046 | $4,495,000 | 4 | 2 | 2,810 | 9386 Sqft |
1414 N Harper Avenue #12, West Hollywood, CA,90046 | $1,749,000 | 2 | 2 | 2,320 | 30510 Sqft |
937 N Spaulding, West Hollywood, CA,90046 | $1,975,000 | 3 | -- | 1,900 | -- |
7611 Hampton Avenue, West Hollywood, CA,90046 | $1,790,000 | 3 | 2 | 1,248 | 6795 Sqft |
1318 N Crescent Heights.., West Hollywood, CA,90046 | $714,999 | 2 | 2 | 977 | 19759 Sqft |
1345 N Hayworth Avenue .., West Hollywood, CA,90046 | $389,000 | -- | 1 | 446 | 45423 Sqft |
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ByOwner last updated this listing 05/06/2024 @ 18:45
MLS: 24380821
LISTED BY: Neema Ahadian, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.