Mixed-Use Religious Conversion
For Sale
$1,200,000
1025 South Catalina Street, Los Angeles, CA 90006
Front unit has been used as a church, with back units converted into multiple living units.
Property Size2,395 SF
Price / SF$501.04
Days on Market741
Property Features for 1025 South Catalina Street
General Information
Standard status
Active
Size
2,395 SF
Total Parking Spaces
5
Property subtype
Commercial Sale / Mixed Use
Zoning
R4-1
Additional Details
Multifamily Units
4
Building Details
Year Built
1904
Buildings
2
Listing Agency:
Premier Realty
Listed By:
Daniel Han · License #02067331
(213) 322-3349
Source:
Compass
Added: Aug 25, 2024
Changed: Aug 8
Last Checked: Jul 21 at 4:52AM
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 Premier Realty
Investment Insights
Based on property information with market context.
Located at 1025 South Catalina Street in the center of Historic Koreatown Los Angeles, this mixed-use property includes a front unit that has been used as a church for decades. The front unit can be converted to commercial uses based on the current configuration.
The back units are described as not permitted but are already converted for residential use, including two one-bedroom units and two studio units, plus two additional rooms. The property may be considered for mixed-use use as-is or development into a multi-story apartment, subject to applicable requirements.
Offered for sale, this is a distinctive configuration that combines an established church-use frontage with additional converted living space at the rear.
The back units are described as not permitted but are already converted for residential use, including two one-bedroom units and two studio units, plus two additional rooms. The property may be considered for mixed-use use as-is or development into a multi-story apartment, subject to applicable requirements.
Offered for sale, this is a distinctive configuration that combines an established church-use frontage with additional converted living space at the rear.
Key Highlights
- Year built: 1904
- Front unit has been used as a church for decades and can be converted for commercial use
- Back units are converted into living units: 2 one‑bedroom units and 2 extra studio units, plus 2 additional rooms
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
$48,499
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
4.04%
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%
$969,980
$970.0K
Cap Rate 7%
$692,843
$692.8K
Cap Rate 9%
$538,878
$538.9K
Market Conditions
NOI Build-Up for 2,395 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
$86.2K $36.00/SF
− Vacancy
−$8.6K −$3.60/SF
EGI
$77.6K $32.40/SF
− OpEx
−$29.1K −$12.15/SF
NOI
$48.5K $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%
$969,980
Cap Rate 7%
$692,843
Cap Rate 9%
$538,878
Alternative Uses
Best Use
Apartment 5plus
$42.34M
$37.05M – $49.40M
NOI $2,963,942 @ 7.0% cap · market cap 247.00%
Second Best
Mixed Use
$692.8K
$606.2K – $808.3K
NOI $48,499 @ 7.0% cap · market cap 4.04%
Theoretical Best
Multifamily LT 5
$48.52M
$42.46M – $56.61M
NOI $3,396,488 @ 7.0% cap · market cap 283.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Front unit has been used as a church, with back units converted into multiple living units.
Where is this mixed-use property located?
The property is located at 1025 South Catalina Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Year built: 1904; Front unit has been used as a church for decades and can be converted for commercial use; Back units are converted into living units: 2 one‑bedroom units and 2 extra studio units, plus 2 additional rooms
