Entitled Mixed-Use Development
For Sale
$22,750,000
12727 West Washington Boulevard, Los Angeles, CA 90066
Fully entitled mixed-use project in Culver West neighborhood.
Property Size57,342 SF
Price / SF$396.74
Days on Market269
Property Features for 12727 West Washington Boulevard
General Information
Standard status
Active
Size
57,342 SF
Property subtype
Land
Building Details
Building Size
57,342 SF
Listing Agency:
(310) 899-2733
Listed By:
Duncan Lemmon
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 22
Last Checked: Aug 22 at 4:30AM
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 Duncan Lemmon
Investment Insights
Based on property information with market context.
This is a fully entitled mixed-use project located in the Culver West neighborhood. The current entitlements allow for 144 units and 19,431 square feet of retail space, with a gross building area of approximately 166,250 square feet. A new owner has the option of incorporating up to 20 additional units in Los Angeles per AB1287 density bonus. Proposed amenities include a pool, rooftop deck, outdoor seating area with BBQs, fire pits, a gymnasium, and a lounge. This opportunity allows a developer to make an immediate impact on the Culver City multi-family market with a class A building on a top tier corridor. The property is bounded by three streets: Washington, Zanja, and Meier. The property size is 57,342 square feet.
Key Highlights
- Fully entitled mixed‑use project with entitlements for 144 units and 19,431 square feet of retail space.
- Located in the highly sought‑after Culver West neighborhood.
- Opportunity to add up to 20 additional units via AB1287 density bonus.
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
$1,161,176
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
5.10%
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%
$23,223,520
$23.2M
Cap Rate 7%
$16,588,229
$16.6M
Cap Rate 9%
$12,901,956
$12.9M
Market Conditions
NOI Build-Up for 57,342 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
$2.06M $36.00/SF
− Vacancy
−$206.4K −$3.60/SF
EGI
$1.86M $32.40/SF
− OpEx
−$696.7K −$12.15/SF
NOI
$1.16M $20.25/SF
Area
Los Angeles, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$23,223,520
Cap Rate 7%
$16,588,229
Cap Rate 9%
$12,901,956
Alternative Uses
Best Use
Mixed Use
$16.59M
$14.51M – $19.35M
NOI $1,161,176 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1,161.71M
$1,016.50M – $1,355.33M
NOI $81,320,014 @ 7.0% cap · market cap 357.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,532
Businesses Nearby
Explore this area
Business Placement
Demographics for 90066, CA
55,304
Population
26,591
Households
2.1
Avg Household Size
38
Median Age
61%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
11,522
Density / Sq Mi
$107,786
Median Household Income
$67,298
Median Earnings
$2,211
Median Rent
$1,636,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Fully entitled mixed-use project in Culver West neighborhood.
Where is this commercial land located?
The property is located at 12727 West Washington Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $22,750,000.
What are key features of this property?
This property features: Fully entitled mixed‑use project with entitlements for 144 units and 19,431 square feet of retail space.; Located in the highly sought‑after Culver West neighborhood.; Opportunity to add up to 20 additional units via AB1287 density bonus.
