Flexible Office or Retail
For Sale
$850,000
7024 S Western Ave, Los Angeles, CA 90047
Two units offering versatile office or retail opportunities in prime location.
Property Size2,880 SF
Lot Size0.15 Acres
Days on Market275
Property Features for 7024 S Western Ave
General Information
Standard status
Active
Size
2,880 SF
Lot size
0.15 Acres
Property subtype
Commercial
Building Details
Building Size
2,880 SF
Year Built
1926
Listing Agency:
(310) 542-0551
Listed By:
Jerol Crawford · License #01331482
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 25
Last Checked: Aug 29 at 9:11AM
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 Jerol Crawford
Investment Insights
Based on property information with market context.
This property offers a versatile opportunity for office or retail use, featuring approximately 2,880 square feet of flexible space divided between two separate units. Situated on a 6,540 square foot lot, the property includes convenient off-street parking. Currently, one unit is tenant-occupied, but both units can be delivered vacant at closing. This property is suitable for investors, owner-users, or creative entrepreneurs, offering possibilities such as a dual-business setup, an owner-occupied space with rental income, or a complete redevelopment.
Key Highlights
- Prime location suitable for office or retail use
- Two separate units offering flexible usage options
- Total of 2,880 SF of space
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
$68,360
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
8.04%
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%
$1,367,200
$1.4M
Cap Rate 7%
$976,571
$976.6K
Cap Rate 9%
$759,556
$759.6K
Market Conditions
NOI Build-Up for 2,880 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
$112.0K $38.88/SF
− Vacancy
−$20.8K −$7.23/SF
EGI
$91.1K $31.65/SF
− OpEx
−$22.8K −$7.91/SF
NOI
$68.4K $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%
$1,367,200
Cap Rate 7%
$976,571
Cap Rate 9%
$759,556
Alternative Uses
Best Use
Office B
$976.6K
$854.5K – $1.14M
NOI $68,360 @ 7.0% cap · market cap 8.04%
Second Best
Retail
$954.8K
$835.5K – $1.11M
NOI $66,837 @ 7.0% cap · market cap 7.86%
Theoretical Best
Multifamily LT 5
$58.35M
$51.05M – $68.07M
NOI $4,084,295 @ 7.0% cap · market cap 480.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 90047, CA
50,154
Population
18,042
Households
2.8
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
4.7 sq mi
ZIP Area
10,671
Density / Sq Mi
$70,187
Median Household Income
$39,898
Median Earnings
$1,492
Median Rent
$648,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two units offering versatile office or retail opportunities in prime location.
Where is this office units located?
The property is located at 7024 S Western Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location suitable for office or retail use; Two separate units offering flexible usage options; Total of 2,880 SF of space
