Corner Mixed-Use
For Sale
$5,500,000
215 Washington Boulevard, Los Angeles, CA 90015
Corner positioning and mixed-use classification support a flexible commercial property profile.
Property Size8,952 SF
Price / SF$614.39
Days on Market952
Property Features for 215 Washington Boulevard
General Information
Standard status
Active
Size
8,952 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
3
LAM2
Corner Lot.
Corner.
Building Details
Year Built
1908
Listing Agency:
(310) 274-3445
Listed By:
Ali Khosravi · License #01968694
Source:
Xome
Added: Jan 21, 2024
Changed: Aug 29
Last Checked: Aug 29 at 5:21PM
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 Ali Khosravi
Investment Insights
Based on property information with market context.
This mixed-use commercial building at 215 Washington Boulevard provides 8,952 square feet of space on a corner lot. The property dates to 1908 and is positioned along Washington Boulevard in Los Angeles.
Its mixed-use classification supports consideration of commercial applications within an established urban setting. The corner placement provides a distinct physical position for a property serving multiple commercial functions.
Its mixed-use classification supports consideration of commercial applications within an established urban setting. The corner placement provides a distinct physical position for a property serving multiple commercial functions.
Key Highlights
- 8,952‑square‑foot mixed‑use commercial building
- Corner lot along Washington Boulevard
- Located in Los Angeles, CA 90015
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
$207,751
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
3.78%
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%
$4,155,020
$4.2M
Cap Rate 7%
$2,967,871
$3.0M
Cap Rate 9%
$2,308,344
$2.3M
Market Conditions
NOI Build-Up for 8,952 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
$330.9K $36.96/SF
− Vacancy
−$34.1K −$3.81/SF
EGI
$296.8K $33.15/SF
− OpEx
−$89.0K −$9.95/SF
NOI
$207.8K $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%
$4,155,020
Cap Rate 7%
$2,967,871
Cap Rate 9%
$2,308,344
Alternative Uses
Best Use
Retail
$2.97M
$2.60M – $3.46M
NOI $207,751 @ 7.0% cap · market cap 3.78%
Second Best
Mixed Use
$2.59M
$2.27M – $3.02M
NOI $181,278 @ 7.0% cap · market cap 3.30%
Theoretical Best
Multifamily LT 5
$181.36M
$158.69M – $211.59M
NOI $12,695,350 @ 7.0% cap · market cap 230.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 90015, CA
27,324
Population
14,635
Households
1.9
Avg Household Size
34
Median Age
48%
College-Educated
79%
High-School Grad
1.7 sq mi
ZIP Area
16,073
Density / Sq Mi
$63,211
Median Household Income
$47,819
Median Earnings
$2,385
Median Rent
$1,000,800
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner positioning and mixed-use classification support a flexible commercial property profile.
Where is this mixed-use property located?
The property is located at 215 Washington Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 8,952‑square‑foot mixed‑use commercial building; Corner lot along Washington Boulevard; Located in Los Angeles, CA 90015
