West Hollywood, CA 90046 7916 Santa Monica Boulevard
$3,850,000
3 more
Presented By: Neema Ahadian with Marcus & Millichap;
Home Details
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.
Presented By: Neema Ahadian with Marcus & Millichap;
Interior Features for 7916 Santa Monica Boulevard
Bedrooms
Total Bedrooms
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths9
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Street SuffixBoulevard
Total Stories3
General for 7916 Santa Monica Boulevard
Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CityWest Hollywood
CoolingNone
CountyLos Angeles
Days on Market18
DirectionsLocated south west corner of N Fairfax Ave and Santa Monica Blvd
Garage Y/NNo
Gross Income233376.0
HOA / Comm AssnNo
HeatingNone
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet6252.0
MLS AreaC10 - West Hollywood Vicinity
MobileHomeRemainsYNNo
Net Operating Income146462.0
New ConstructionNo
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameSanta Monica
Total Units9
View Y/NNo
Waterfront Y/NNo
Year Built1925
ZoningWDC2A*
Exterior for 7916 Santa Monica Boulevard
Building Area Total7696.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1435
Lot Size Area6252.0
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesOneSpace
SpaNo
Total Parking0.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480