Westwood Office Building with
For Sale
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1018-1024 Westwood Blvd, Los Angeles, CA
Two-story office building featuring a grand atrium and modern finishes.
Property Size18,522 SF
Lot Size0.19 Acres
Price / SF$809.58
Days on Market370
Property Features for 1018-1024 Westwood Blvd
General Information
Standard status
Active
Size
18,522 SF
Lot size
0.19 Acres
Property subtype
OFFICE
Listing Agency:
WESTMAC Commercial Brokerage Company
(310) 478-7700
Listed By:
T.C. Macker · License #CA 01232033
(310) 966-4352
Source:
Moodyscre
Added: Sep 5, 2025
Changed: Aug 9
Last Checked: Sep 8 at 8:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WESTMAC Commercial Brokerage Company
Investment Insights
Based on property information with market context.
This two-story office building features a grand atrium with a dramatic circular skylight and high ceilings. The property includes modern finishes such as stone and wood flooring, glass-partitioned meeting rooms and labs, and open lounge areas. The basement has been previously configured for laboratory use. Five parking spaces are available at the rear of the building. The property contains 18,522 square feet.
Key Highlights
- Grand atrium with dramatic circular skylight.
- Modern finishes including stone and wood flooring.
- High ceilings.
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
$439,643
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
2.93%
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%
$8,792,860
$8.8M
Cap Rate 7%
$6,280,614
$6.3M
Cap Rate 9%
$4,884,922
$4.9M
Market Conditions
NOI Build-Up for 18,522 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
$720.1K $38.88/SF
− Vacancy
−$133.9K −$7.23/SF
EGI
$586.2K $31.65/SF
− OpEx
−$146.5K −$7.91/SF
NOI
$439.6K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$8,792,860
Cap Rate 7%
$6,280,614
Cap Rate 9%
$4,884,922
Alternative Uses
Best Use
Office B
$6.28M
$5.50M – $7.33M
NOI $439,643 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$375.24M
$328.34M – $437.79M
NOI $26,267,122 @ 7.0% cap · market cap 175.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
8,819
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building featuring a grand atrium and modern finishes.
Where is this office building located?
The property is located at 1018-1024 Westwood Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $14,995,000.
What are key features of this property?
This property features: Grand atrium with dramatic circular skylight.; Modern finishes including stone and wood flooring.; High ceilings.
