Boyle Heights Commercial
For Sale
$1,499,000
2655 Short St, Los Angeles, CA 90023
Free-standing commercial building in a dynamic Los Angeles neighborhood.
Property Size4,382 SF
Lot Size0.16 Acres
Price / SF$342.08
Days on Market172
Property Features for 2655 Short St
General Information
Standard status
Active
Size
4,382 SF
Lot size
0.16 Acres
Property subtype
Commercial
Building Details
Building Size
4,382 SF
Year Built
1946
Listing Agency:
Century 21 Masters
(626) 712-5156
Listed By:
Tess Marquez · License #01229490
(626) 712-5156
Source:
Elliman
Added: Mar 11
Changed: Aug 26
Last Checked: Aug 29 at 8:44AM
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 Century 21 Masters
Investment Insights
Based on property information with market context.
This commercial property is located in a dynamic and fast-growing neighborhood of Los Angeles. The building has approximately 4,382 square feet of space and sits on a 7,001 square foot lot. Currently, the property is configured into four tenant-occupied units, generating income. The property is zoned for light manufacturing, offering potential uses such as retail, restaurant, automotive, fitness, or creative space. The adaptable layout makes it suitable for investors seeking long-term returns or owner-users looking to establish their business in a high-demand location. Boyle Heights is evolving as a hub for commerce, culture, and development.
Key Highlights
- Free‑standing commercial property in a dynamic, fast‑growing Los Angeles neighborhood (Boyle Heights).
- Approximately 4,382 SF building on a 7,001 SF lot.
- Currently configured into four tenant‑occupied units generating steady income.
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
$88,736
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
5.92%
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%
$1,774,720
$1.8M
Cap Rate 7%
$1,267,657
$1.3M
Cap Rate 9%
$985,956
$986.0K
Market Conditions
NOI Build-Up for 4,382 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
$157.8K $36.00/SF
− Vacancy
−$15.8K −$3.60/SF
EGI
$142.0K $32.40/SF
− OpEx
−$53.2K −$12.15/SF
NOI
$88.7K $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 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%
$1,774,720
Cap Rate 7%
$1,267,657
Cap Rate 9%
$985,956
Alternative Uses
Best Use
Mixed Use
$1.27M
$1.11M – $1.48M
NOI $88,736 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$88.78M
$77.68M – $103.57M
NOI $6,214,368 @ 7.0% cap · market cap 414.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 90023, CA
45,939
Population
12,319
Households
3.7
Avg Household Size
32
Median Age
10%
College-Educated
53%
High-School Grad
4.3 sq mi
ZIP Area
10,683
Density / Sq Mi
$56,623
Median Household Income
$30,967
Median Earnings
$1,414
Median Rent
$617,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Free-standing commercial building in a dynamic Los Angeles neighborhood.
Where is this mixed-use property located?
The property is located at 2655 Short St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Free‑standing commercial property in a dynamic, fast‑growing Los Angeles neighborhood (Boyle Heights).; Approximately **4,382 SF building on a 7,001 SF lot**.; Currently configured into four tenant‑occupied units generating steady income.
