Mixed-Use Property with
1518 West Florence Avenue, Los Angeles, CA 90047
For Sale
New
$1,495,000
Two renovated buildings combine a street-level commercial unit with five apartments in a six-unit configuration.
Property Size5,200 SF
Lot Size0.14 Acres
Price / SF$287.50
Days on Market4
Property Features for 1518 West Florence Avenue
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
Building Size
Buildings
Stories
Units
Tenancy
Listing Agency:
KW Commercial L.A. Westside
Listed By:
David Yashar · License CA #01102638
(310) 724-8043
Source:
Realnex
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 2:19PM
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
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Investment Insights
Based on property information with market context.
At 1516–1518 West Florence Avenue, the property comprises two renovated buildings with approximately 5,200 square feet of building area on a 5,900-square-foot lot. Its six units consist of one retail space and five residences: a studio, two two-bedroom apartments, and two three-bedroom apartments. The property is zoned C-2.
The site is on Florence Avenue between Western Avenue and Vermont Avenue. The surrounding area includes established residential neighborhoods alongside retail, restaurants, services, and other local businesses. Florence Avenue provides east-west travel, while Western and Vermont Avenues offer north-south connections. The I-110 is accessible, as are Metro bus service and the E Line in the USC/Exposition Park transit corridor. USC, Exposition Park, and Downtown Los Angeles are reachable through the surrounding transportation network.
The one-mile area has more than 40,000 residents, and the three-mile area has over 400,000 residents.
The site is on Florence Avenue between Western Avenue and Vermont Avenue. The surrounding area includes established residential neighborhoods alongside retail, restaurants, services, and other local businesses. Florence Avenue provides east-west travel, while Western and Vermont Avenues offer north-south connections. The I-110 is accessible, as are Metro bus service and the E Line in the USC/Exposition Park transit corridor. USC, Exposition Park, and Downtown Los Angeles are reachable through the surrounding transportation network.
The one-mile area has more than 40,000 residents, and the three-mile area has over 400,000 residents.
Key Highlights
- Two renovated buildings totaling approximately 5,200 square feet on a 5,900‑square‑foot lot
- Six units: one retail space and five residences
- Residential mix includes a studio, two 2‑bedroom units, and two 3‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,300
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,106,000
$2.1M
Cap Rate 7%
$1,504,286
$1.5M
Cap Rate 9%
$1,170,000
$1.2M
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$187.2K $36.00/SF
− Vacancy
−$18.7K −$3.60/SF
EGI
$168.5K $32.40/SF
− OpEx
−$63.2K −$12.15/SF
NOI
$105.3K $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 Rate 5%
$2,106,000
Cap Rate 7%
$1,504,286
Cap Rate 9%
$1,170,000
Alternative Uses
Best Use
Mixed Use
$1.50M
$1.32M – $1.76M
NOI $105,300 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.39M
NOI $83,672 @ 7.0% cap · market cap 5.60%
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.
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,580
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
$648,200
Median Home Value
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Market
Average Price Trend$/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 a street-level commercial unit with five apartments in a six-unit configuration.
Where is this mixed-use property located?
The property is located at 1518 West Florence Avenue 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 renovated buildings totaling approximately 5,200 square feet on a 5,900‑square‑foot lot; Six units: one retail space and five residences; Residential mix includes a studio, two 2‑bedroom units, and two 3‑bedroom units
