1010 Fairfax AveWest Hollywood, CA 90046

Property Details for 1010 Fairfax Ave

Property size (Sq ft)

3,360 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional West Hollywood retail property offers a compelling investment opportunity with a triple-net lease structure and minimal owner responsibilities. The 3,360 square foot building, featuring three tenants at 100% occupancy, boasts an impressive Net Operating Income (NOI) of $344,839, with a pro-forma NOI of $348,450. The property includes 2,000 square feet of outdoor patio space, situated on a 9,628 square foot lot with 150 feet of frontage on Fairfax Avenue. Located just south of Santa Monica Boulevard, east of Beverly Hills, this prime location benefits from high visibility and exceptional car traffic counts exceeding 30,000 vehicles daily. The property's Walk Score of 97 underscores its pedestrian-friendly environment. The building was renovated in 2024. Tenants include a national brand restaurant with a full liquor license, a ghost kitchen, and a specialty coffee house. The property's strong demographics, with over 50,000 residents within a one-mile radius and approximately 275,000 within a three-mile radius, ensure a robust customer base. This investment presents a rare opportunity to acquire a high-performing, low-maintenance retail property in a thriving West Hollywood location. The property is zoned WDC1A* (LA City) and R3C-C (West Hollywood). The three units are situated within a single building. The asking price is $6,495,000, representing a 5.31% cap rate and a pro-forma cap rate of 5.40%. The Assessor's Parcel Numbers (APN) are 5530-012-014 and 5530-012-026.

Location Insight

City

West Hollywood

County

Los Angeles

State

California

Latitude

34.0891

Longitude

-118.361

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