Multi-Parcel Industrial and Office
For Sale
$3,995,900
2378 W Washington Boulevard, Los Angeles, CA 90018
COMMERCIAL - Los Angeles, CA
Property Size16,000 SF
Lot Size0.46 Acres
Price / SF$249.74
Days on Market48
Property Features for 2378 W Washington Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1.5
Directions
Washington Blvd and Arlington Ave
Subdivision
WLA - West Los Angeles
Standard status
Active
APN
5073028008
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11412
Building Details
Year built
1925
Listing Agency:
KELLER WILLIAMS REALTY
(714) 584-2700
Listed By:
Manlio Ceja-Gomez · License #02023306
(562) 305-7952
Added: Jun 29
Changed: Aug 4
Last Checked: Aug 15 at 11:06PM
MLS# CV26141616
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-parcel commercial property consists of three contiguous parcels and four property addresses, totaling close to 20,000 square feet of land (buyer to verify). Improvements total approximately 16,000+ square feet (buyer to verify) and include a mix of warehouse, industrial, and commercial spaces. The second floor features three office spaces, along with one conference room and one restroom.
The site is positioned along the Washington Boulevard corridor between Downtown Los Angeles and the Westside, with multiple access points and flexible configurations. Public records indicate portions of the improvements date back to the 1920s, with additions and alterations over time.
The property is zoned C1.5 for commercial/industrial use, subject to city approval for future redevelopment or repositioning. Portions of the property are located within a designated Opportunity Zone; buyers should consult their tax and legal advisors regarding any potential Opportunity Zone benefits.
The site is positioned along the Washington Boulevard corridor between Downtown Los Angeles and the Westside, with multiple access points and flexible configurations. Public records indicate portions of the improvements date back to the 1920s, with additions and alterations over time.
The property is zoned C1.5 for commercial/industrial use, subject to city approval for future redevelopment or repositioning. Portions of the property are located within a designated Opportunity Zone; buyers should consult their tax and legal advisors regarding any potential Opportunity Zone benefits.
Key Highlights
- Commercial property built in 1925 with approx. 16,000+ SF of improvements across 3 contiguous parcels totaling close to 20,000 SF (buyer to verify).
- Multi‑parcel asset with four property addresses featuring warehouse, industrial, and commercial improvements with flexible configurations.
- Second floor includes three office spaces, one conference room, and one restroom.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$241,353
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,827,060
$4.8M
Cap Rate 7%
$3,447,900
$3.4M
Cap Rate 9%
$2,681,700
$2.7M
Market Conditions
NOI Build-Up for 16,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$303.4K $18.96/SF
− Vacancy
−$19.4K −$1.21/SF
EGI
$283.9K $17.75/SF
− OpEx
−$42.6K −$2.66/SF
NOI
$241.4K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,827,060
Cap Rate 7%
$3,447,900
Cap Rate 9%
$2,681,700
Alternative Uses
Best Use
Office B
$5.43M
$4.75M – $6.33M
NOI $379,780 @ 7.0% cap · market cap 9.50%
Second Best
Warehouse
$3.45M
$3.02M – $4.02M
NOI $241,353 @ 7.0% cap · market cap 6.04%
Theoretical Best
Multifamily LT 5
$324.15M
$283.63M – $378.18M
NOI $22,690,528 @ 7.0% cap · market cap 567.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,012
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90018, CA
50,179
Population
17,917
Households
2.8
Avg Household Size
37
Median Age
24%
College-Educated
74%
High-School Grad
3.0 sq mi
ZIP Area
16,726
Density / Sq Mi
$63,671
Median Household Income
$36,845
Median Earnings
$1,512
Median Rent
$886,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 3611 W Washington Blvd, Los Angeles, CA 90018
- Self Storage — 2420 7th ave, los angeles, ca 90018
- Self Storage — 1905 S Western Ave, Los Angeles, CA 90018
- C'est Fini Professional Organizers — Los Angeles, CA 90006
- Dewis Storage Units - Cheap Self Storage Near You — 1307 5th Ave, Los Angeles, CA 90019
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-parcel property with warehouse and commercial improvements plus three office spaces on the second floor.
Where is this warehouse located?
The property is located at 2378 W Washington Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,995,900.
What are key features of this property?
This property features: Commercial property built in 1925 with approx. 16,000+ SF of improvements across 3 contiguous parcels totaling close to 20,000 SF (buyer to verify).; Multi‑parcel asset with four property addresses featuring warehouse, industrial, and commercial improvements with flexible configurations.; Second floor includes three office spaces, one conference room, and one restroom.
