Four-Unit Office
For Sale
$1,499,000
2655 Short Street, Los Angeles, CA 90023
SINGLE_FAMILY - Los Angeles, CA
Property Size4,382 SF
Lot Size0.16 Acres
Price / SF$342.08
Days on Market484
Property Features for 2655 Short Street
General Information
Property type
Residential
Property subtype
Office
Zoning
LAM2
Directions
CORNER LOT AT SOUTH BOYLE AVE & SHORT STREET
Subdivision
BOYH - Boyle Heights
Standard status
Active
APN
5170017001
Lot size
0.16 Acres
Building Details
Year built
1946
Listing Agency:
Century 21 Masters · Century 21 Real Estate
(909) 595-6697
Listed By:
Tess Marquez · License #01229490
(626) 712-5156
Added: Apr 21, 2025
Changed: Aug 14
Last Checked: Aug 17 at 12:06PM
MLS# TR25081729
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding commercial property contains approximately 4,382 square feet on a 7,001-square-foot lot. The building is arranged as four tenant-occupied units, providing an established multi-unit configuration for an office-focused asset. Built in 1946, the property carries LAM2 zoning associated with light manufacturing uses.
Located at 2655 Short Street in Los Angeles, the property is positioned within the 90023 postal area. Its separate-unit layout supports consideration by both investors and owner-users, subject to verification of applicable city requirements and permitted uses.
Located at 2655 Short Street in Los Angeles, the property is positioned within the 90023 postal area. Its separate-unit layout supports consideration by both investors and owner-users, subject to verification of applicable city requirements and permitted uses.
Key Highlights
- Approximately 4,382 SF building on a 7,001 SF lot
- Four tenant‑occupied units
- LAM2 zoning
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
$104,012
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
6.94%
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%
$2,080,240
$2.1M
Cap Rate 7%
$1,485,886
$1.5M
Cap Rate 9%
$1,155,689
$1.2M
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
$170.4K $38.88/SF
− Vacancy
−$31.7K −$7.23/SF
EGI
$138.7K $31.65/SF
− OpEx
−$34.7K −$7.91/SF
NOI
$104.0K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$2,080,240
Cap Rate 7%
$1,485,886
Cap Rate 9%
$1,155,689
Alternative Uses
Best Use
Office B
$1.49M
$1.30M – $1.73M
NOI $104,012 @ 7.0% cap · market cap 6.94%
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
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,547
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding commercial building with occupied tenant units and LAM2 zoning.
Where is this office building located?
The property is located at 2655 Short Street 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: Approximately 4,382 SF building on a 7,001 SF lot; Four tenant‑occupied units; LAM2 zoning
