Multi-Tenant Storefront
For Sale
Contact for pricing
1882 West Washington Boulevard, Los Angeles, CA 90007
Five occupied units include one owner-occupied space, with rear parking for approximately 10 vehicles.
Property Size7,280 SF
Lot Size0.26 Acres
Price / SF$288.46
Days on Market8
Property Features for 1882 West Washington Boulevard
General Information
Standard status
Active
Size
7,280 SF
Total Parking Spaces
10
Lot size
0.26 Acres
Property subtype
Retail, Industrial
Occupancy
100%
Net Operating Income
$103,636
Site & Location
Corner Location
Yes
Traffic Count
36,581 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
4.94%
Building Details
Year Built
1909
Year Renovated
1950
Buildings
1
Construction
masonry
Tenancy
Multi
Listing Agency:
Major Properties
Listed By:
Ron Kim · License #CA 01891773
(213) 422-4955
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 2:43PM
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 Major Properties
Investment Insights
Based on property information with market context.
The property is a masonry storefront building with 7,280 square feet of space on an 11,129-square-foot parcel. Built in 1909 and renovated in 1950, it is arranged as five units and is fully occupied, including one unit used by the owner. Rear parking accommodates approximately 10 vehicles.
At the signalized intersection of Washington Boulevard and Normandie Avenue in Los Angeles, the property is across from Angelus Rosedale Cemetery. It is 1.5 miles west of Downtown Los Angeles and three blocks north of the Santa Monica (I-10) Freeway. The reported traffic count is 36,581 vehicles per day.
At the signalized intersection of Washington Boulevard and Normandie Avenue in Los Angeles, the property is across from Angelus Rosedale Cemetery. It is 1.5 miles west of Downtown Los Angeles and three blocks north of the Santa Monica (I-10) Freeway. The reported traffic count is 36,581 vehicles per day.
Key Highlights
- 7,280 SF masonry storefront building on 11,129 SF of land
- Five units, fully occupied; one unit is owner‑occupied
- Built in 1909 and renovated in 1950
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$168,948
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,378,960
$3.4M
Cap Rate 7%
$2,413,543
$2.4M
Cap Rate 9%
$1,877,200
$1.9M
Market Conditions
NOI Build-Up for 7,280 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$269.1K $36.96/SF
− Vacancy
−$27.7K −$3.81/SF
EGI
$241.4K $33.15/SF
− OpEx
−$72.4K −$9.95/SF
NOI
$168.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,378,960
Cap Rate 7%
$2,413,543
Cap Rate 9%
$1,877,200
Alternative Uses
Best Use
Retail
$2.41M
$2.11M – $2.82M
NOI $168,948 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$147.49M
$129.05M – $172.07M
NOI $10,324,190 @ 7.0% cap · market cap 491.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
36,581 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,404
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Los Angeles, CA
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Frequently Asked Questions
What type of property is this?
Storefront property - Five occupied units include one owner-occupied space, with rear parking for approximately 10 vehicles.
Where is this storefront property located?
The property is located at 1882 West Washington Boulevard 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: 7,280 SF masonry storefront building on 11,129 SF of land; Five units, fully occupied; one unit is owner‑occupied; Built in 1909 and renovated in 1950
