Six-Unit Mixed-Use
New
For Sale
$900,000
1701 W Florence Ave, Los Angeles, CA 90047
Three street-facing retail spaces are paired with three residences accessed from a separate boulevard.
Property Size3,314 SF
Price / SF$271.58
Days on Market4
Property Features for 1701 W Florence Ave
General Information
Standard status
Active
Size
3,314 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Harvard Park
Mixed-Use Components
retail, residential
Additional Details
Multifamily Units
3
Building Details
Building Size
3,314 SF
Year Built
1942
Listing Agency:
RCO Real Estate
Listed By:
Orlando Hisquierdo · License #01373224
Source:
Benbelack
Added: Nov 1
Changed: Nov 4
Last Checked: Nov 4 at 1:30PM
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 RCO Real Estate
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Investment Insights
Based on property information with market context.
This 3,314-square-foot mixed-use property, built in 1942, contains three commercial storefronts and three residential units. The residences have access from Harvard Boulevard, while the storefronts face Florence Avenue.
The property is at 1701 W Florence Ave in Los Angeles, California. Retail and residential rental use are both identified for the building.
The property is at 1701 W Florence Ave in Los Angeles, California. Retail and residential rental use are both identified for the building.
Key Highlights
- Three commercial storefronts facing Florence Avenue
- Three residential units accessed from Harvard Boulevard
- 3,314 square feet; built in 1942
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,909
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,538,180
$1.5M
Cap Rate 7%
$1,098,700
$1.1M
Cap Rate 9%
$854,544
$854.5K
Market Conditions
NOI Build-Up for 3,314 SF
Gross rent
$122.5K $36.96/SF
− Vacancy
−$12.6K −$3.81/SF
EGI
$109.9K $33.15/SF
− OpEx
−$33.0K −$9.95/SF
NOI
$76.9K $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%
$1,538,180
Cap Rate 7%
$1,098,700
Cap Rate 9%
$854,544
Alternative Uses
Best Use
Apartment 5plus
$58.59M
$51.27M – $68.35M
NOI $4,101,254 @ 7.0% cap · market cap 455.69%
Second Best
Retail
$1.10M
$961.4K – $1.28M
NOI $76,909 @ 7.0% cap · market cap 8.55%
Theoretical Best
Multifamily LT 5
$67.14M
$58.75M – $78.33M
NOI $4,699,776 @ 7.0% cap · market cap 522.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
843
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three street-facing retail spaces are paired with three residences accessed from a separate boulevard.
Where is this mixed-use property located?
The property is located at 1701 W Florence Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Three commercial storefronts facing Florence Avenue; Three residential units accessed from Harvard Boulevard; 3,314 square feet; built in 1942
