Retail and Residential Mixed-Use
1516-1518 W Florence Ave, Los Angeles, CA 90047
For Sale
Contact for pricing
Two renovated buildings combine neighborhood retail space with five apartments in a range of unit sizes.
Property Size5,200 SF
Lot Size0.14 Acres
Price / SF$287.50
Days on Market25
Property Features for 1516-1518 W Florence Ave
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Road Access
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Building Details
Buildings
Tenancy
Listing Agency:
KW Commercial L.A. Westside
Listed By:
David Yashar · License #CA 01102638
(310) 724-8043
Source:
Crexi
Added: Oct 16
Changed: Nov 8
Last Checked: Nov 8 at 5:32PM
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 KW Commercial L.A. Westside
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated Los Angeles property comprises two buildings with approximately 5,200 SF of building area on a 5,900 SF lot. The six-unit mix includes one retail space and five apartments: a studio, two 2-bedroom units and two 3-bedroom units. The property is zoned LA-C2.
Situated on W Florence Avenue between Western Avenue and Vermont Avenue, the site has access to east-west travel along Florence and north-south routes on the two intersecting avenues. The I-110 connects the area with Downtown Los Angeles and other employment centers. Metro bus service and the E Line are accessible through the nearby USC/Exposition Park transit corridor; USC, Exposition Park and Downtown Los Angeles are also reachable through the surrounding transportation network.
The area includes more than 40,000 residents within 1 mile and over 400,000 within 3 miles. Nearby context includes established residential neighborhoods, retail, restaurants, services and other neighborhood businesses.
Situated on W Florence Avenue between Western Avenue and Vermont Avenue, the site has access to east-west travel along Florence and north-south routes on the two intersecting avenues. The I-110 connects the area with Downtown Los Angeles and other employment centers. Metro bus service and the E Line are accessible through the nearby USC/Exposition Park transit corridor; USC, Exposition Park and Downtown Los Angeles are also reachable through the surrounding transportation network.
The area includes more than 40,000 residents within 1 mile and over 400,000 within 3 miles. Nearby context includes established residential neighborhoods, retail, restaurants, services and other neighborhood businesses.
Key Highlights
- Two‑building property with approximately 5,200 SF of building area on a 5,900 SF lot
- Six units: one retail space and five apartments
- Apartment mix includes a studio, two 2‑bedroom units and two 3‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,677
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,413,540
$2.4M
Cap Rate 7%
$1,723,957
$1.7M
Cap Rate 9%
$1,340,856
$1.3M
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$192.2K $36.96/SF
− Vacancy
−$19.8K −$3.81/SF
EGI
$172.4K $33.15/SF
− OpEx
−$51.7K −$9.95/SF
NOI
$120.7K $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%
$2,413,540
Cap Rate 7%
$1,723,957
Cap Rate 9%
$1,340,856
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,677 @ 7.0% cap · market cap 8.07%
Second Best
Mixed Use
$1.50M
$1.32M – $1.76M
NOI $105,300 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,974 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
872
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
$648,200
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Los Angeles, CA
Properties on Market for Mixed-use properties in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two renovated buildings combine neighborhood retail space with five apartments in a range of unit sizes.
Where is this mixed-use property located?
The property is located at 1516-1518 W Florence Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two‑building property with approximately 5,200 SF of building area on a 5,900 SF lot; Six units: one retail space and five apartments; Apartment mix includes a studio, two 2‑bedroom units and two 3‑bedroom units
