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Property Description

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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Additional Information
Marcus & Millichap
0
CLW-C104547
CLW-X7515101
Neema
5529009028
: Standard
Multi/Split
32

Multi-Family For Sale

7916 Santa Monica Boulevard, West Hollywood, California 90046

7,696 Sqft
$3,850,000
Listing ID #24380821
Basic Details
Status : Active
DaysOnMarket : 18
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : 24380821
Price : $3,850,000
Living Area : 7,696 Sqft
Lot Size : 6,252 Sqft
Year Built : 1925
Country : US
State : California
County : Los Angeles
City : West Hollywood
Zipcode : 90046
Price Per Square Foot : $500
ModificationTimestamp : 2024-04-19 11:58:19
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