Listing Agency: Daily Investment Co. Show Phone

Listed By: Steven Kim Show Phone

Source: Moodyscre

Added: Jan 5, 2023 Changed: Oct 26 Last Checked: Oct 28 at 5:27AM

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Investment Insights

Based on property information with market context.

This offering is a bundle sale of condos featuring showroom, office, and retail space. The units included are 110, 203, and 204.

The total property size is 4,000 square feet, and the condos are located at 1016 Towne Ave in Los Angeles, CA 90021.

Ideal for an owner-user or investor looking to acquire multiple units within the same showroom/office/retail configuration, this package combines three condo units into one transaction.

Key Highlights

• Bundle sale includes condo units 110, 203, and 204
• Showroom, office, and retail space
• Total property size 4,000 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$92,829

Cap Rate

4.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,856,580 $1.9M

Cap Rate 7%

$1,326,129 $1.3M

Cap Rate 9%

$1,031,433 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$147.8K $36.96/SF

− Vacancy

−$15.2K −$3.81/SF

EGI

$132.6K $33.15/SF

− OpEx

−$39.8K −$9.95/SF

NOI

$92.8K $23.21/SF

Area

Los Angeles, CA

Vacancy

10.30%

Lease Rate

$36.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,856,580

Cap Rate 7%

$1,326,129

Cap Rate 9%

$1,031,433

Alternative Uses

Best Use

Retail

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $92,829 @ 7.0% cap · market cap 4.42%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$81.04M

$70.91M – $94.54M (±1% cap)

NOI $5,672,632 @ 7.0% cap · market cap 270.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

LECLA LOS ANGELES Clothing Store Cherish Clothing & Fashion Store Special A Jeans Clothing & Fashion Store Denim Zone U.S.A. Clothing & Fashion Store U Jeans Factory

Suggested Use

Top Pick Tanning Salon Adult Day Care Pet Grooming Service Daycare Center (Bike/Boat/Book/etc) Store Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

10,892

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 90021, CA

5,192

Population

1,694

Households

3.1

Avg Household Size

46

Median Age

20%

College-Educated

64%

High-School Grad

2.0 sq mi

ZIP Area

2,596

Density / Sq Mi

$32,250

Median Household Income

$35,528

Median Earnings

$984

Median Rent

$1,075,800

Median Home Value

Market

Vacancy Rate% for Retail in Los Angeles, CA

5.7% 2019

6.1% 2020

6% 2021

5.7% 2022

5.6% 2023

6% 2024

6.2% 2025

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Frequently Asked Questions

What type of property is this?

Showroom - Bundle sale of three condos with showroom, office, and retail space.

Where is this showroom located?

The property is located at 1016 Towne Ave Los Angeles, CA.

What is the asking price?

The asking price for this property is $2,100,000.

What are key features of this property?

This property features: Bundle sale includes condo units 110, 203, and 204; Showroom, office, and retail space; Total property size 4,000 square feet