7916 Santa Monica Boulevard

7916 Santa Monica Boulevard

West Hollywood, CA 90046

$3,850,000
Price
—
Beds
9
Baths
7,696 Sq. Ft.
$500 / Sq. Ft.
7,696
Sq. Ft.
$500
per Sq. Ft.
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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...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.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 7916 Santa Monica Boulevard

Zoning
WDC2A*
Parcel Number
5529009028
Total Units
9.0
Living Area
7696
Source Living Area
Vendor Enhanced
Area
West Hollywood Vicinity (C10)
Vacancy Rate
100
Lot Size Area
6252

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute
LISTING UPDATED: 04/19/2024 11:51 AM

Property Details for 7916 Santa Monica Boulevard

StatusActive
MLS #24-380821
Days on Market36
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1925
Lot Size0.14 AC / 6,252 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute

Building Information for 7916 Santa Monica Boulevard

Stories3Residences-Year Built1925Building Size-Lot Size0.14 AC / 6,252 SF

Payment Calculator

$24,331 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,011

Property Taxes

$3,320

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7916 Santa Monica Boulevard

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Single
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $226,375
  • Net Operating Income: $146,462.00
  • Gross Income: $233,376
  • Gross Rent Multiplier: $16.50
  • Total Annual Expense: 79912
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1435
  • Lot Size Square Feet: 6252
Parking Details
Parking Details
  • Parking Garage: Parking Space
  • Total Parking: 0
  • Parking Features: Parking Space
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,995.00
  • Unit Actual Rent: $6,548.00
  • Unit Projected Rent: $13,200.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $4,350.00
  • Unit Actual Rent: $14,900.00
  • Unit Projected Rent: $12,900.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $568,913.00
  • Assessed Improvement Percent: 18.52
  • Assessed Land Value: $2,503,222.00
  • Assessed Land Percent: 81.48
  • Assessed Total Value: $3,072,135.00

Property History for 7916 Santa Monica Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7916 Santa Monica Boulevard

Taxable ValueLand$2,503,222Additions$568,913Total$3,072,135
Tax Record2023$39,837 ($3,320 / month)
Home Facts
Total Finished SqFt7,696 SqFtAbove Grade Finished SqFt7,696 SqFtStories1Lot Size6,250 SqFtStyleOffice BuildingYear Built1925ZoningWDC2A*CountyLOS ANGELESAPN5529-009-028

Schools near 7916 Santa Monica Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Laurel Elementary School
Public - K to 8
Fairfax Senior High School
Public - 9 to 12
West Hollywood Opportunity School
Public - 7 to 12
Whitman Continuation School
Public - 9 to 12
Rating
School
Distance
Laurel Elementary School
PublicK to 8

Fairfax Senior High School
Public9 to 12

West Hollywood Opportunity School
Public7 to 12

Whitman Continuation School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 7916 Santa Monica Boulevard, West Hollywood, CA 90046

7916 Santa Monica Boulevard is a multi-family home for sale in West Hollywood, CA 90046. This property was listed for sale on April 1, 2024 by Marcus & Millichap, it's currently listed at $3,850,000. It has been on the market for a total of 36 days and was last sold on January 11, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Laurel Elementary School, Fairfax Senior High School and West Hollywood Opportunity School. 7916 Santa Monica Boulevard is a 0-bed, 9-bath, 7,696 sqft multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.