7916 Santa Monica Boulevard, West Hollywood, CA 90046 (MLS # 24380821)
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.
Property Type(s):
Residential Income
Last Updated
|
4/19/2024
|
Year Built
|
1925
|
Community
|
West Hollywood Vicinity
|
County
|
Los Angeles
|
Additional Details
AIR |
None |
AREA |
West Hollywood Vicinity |
BUYER'S BROKERAGE COMPENSATION |
2.000 % |
GARAGE |
One Space |
HEAT |
None |
LOT |
6252 sq ft |
PARKING |
One Space |
STORIES |
3 |
ZONING |
WDC2A* |
Location
Listed with Marcus & Millichap
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Based on information from California Regional Multiple Listing Service, Inc. as of 5/5/24 7:43 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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