1644 W Washington, Los Angeles, CA 90007

Building Details

Building Size 18,646 SF More

Year Built 1956 More

Listing Agency: Iberri & Associates Real Estate

Listed By: Jose Guevara · License #01355641 Show Phone

Source: Velocityrealtysd

Added: Nov 6 Changed: Nov 8 Last Checked: Nov 8 at 5:25AM

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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 Iberri & Associates Real Estate

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

The grocery and convenience store property comprises two parcels totaling 18,646 square feet. Built in 1956, the building is vacant and includes restrooms, a storage area, an ice machine, two refrigerators, and a freezer. A sink and dedicated grease drain are also in place.

The additional parcel is located at 1637 Cordova St. in Los Angeles; the primary address is 1644 W Washington.

Key Highlights

• Two parcels combine for 18,646 square feet
• Vacant building constructed in 1956
• Includes an ice machine, 2 refrigerators, and a freezer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$504,979

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$10,099,580 $10.1M

Cap Rate 7%

$7,213,986 $7.2M

Cap Rate 9%

$5,610,878 $5.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,646 SF

Gross rent

$689.2K $36.96/SF

− Vacancy

−$15.9K −$0.85/SF

EGI

$673.3K $36.11/SF

− OpEx

−$168.3K −$9.03/SF

NOI

$505.0K $27.08/SF

Area

Los Angeles, CA

Vacancy

2.30%

Lease Rate

$36.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$10,099,580

Cap Rate 7%

$7,213,986

Cap Rate 9%

$5,610,878

Alternative Uses

Best Use

Specialty Retail

$7.21M

$6.31M – $8.42M (±1% cap)

NOI $504,979 @ 7.0% cap · market cap 8.42%

Second Best

Retail

$6.18M

$5.41M – $7.21M (±1% cap)

NOI $432,721 @ 7.0% cap · market cap 7.21%

Theoretical Best

Office A

$7.78M

$6.81M – $9.08M (±1% cap)

NOI $544,945 @ 7.0% cap · market cap 9.08%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

United Food Wholesalers ... Distribution Center

Suggested Use

Top Pick Law Firm Real Estate Agency Carpet & Flooring Store (Bike/Boat/Book/etc) Store Clothing & Fashion Store HVAC Service

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

2,281

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 90007, CA

40,944

Population

14,153

Households

2.9

Avg Household Size

28

Median Age

29%

College-Educated

63%

High-School Grad

2.4 sq mi

ZIP Area

17,060

Density / Sq Mi

$36,032

Median Household Income

$21,176

Median Earnings

$1,480

Median Rent

$852,900

Median Home Value

Market

Average Price Trend$/SF for Grocery and convenience stores in Los Angeles, CA

$471 Jul

$507 Aug

$536 Sep

$547 Oct

Properties on Market for Grocery and convenience stores in Los Angeles

Jul

Aug

Sep

Oct

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?

Grocery and convenience store - An 18,646-square-foot combined property includes restrooms, storage, refrigeration equipment, and a grease-handling sink area.

Where is this grocery and convenience store located?

The property is located at 1644 W Washington Los Angeles, CA.

What is the asking price?

The asking price for this property is $6,000,000.

What are key features of this property?

This property features: Two parcels combine for 18,646 square feet; Vacant building constructed in 1956; Includes an ice machine, 2 refrigerators, and a freezer