Mixed-Use Storefront
New
For Sale
$1,750,000
2815 S Western Ave, Los Angeles, CA 90018
Commercial frontage paired with a rear residence creates a flexible retail and residential configuration.
Property Size3,392 SF
Days on Market4
Property Features for 2815 S Western Ave
General Information
Standard status
Active
Size
3,392 SF
Property subtype
Commercial
Building Details
Building Size
3,392 SF
Year Built
1931
Units
2
Listing Agency:
Real Broker
(424) 421-4241
Listed By:
Erika Martinez · License #02206762
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 22 at 9:55AM
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 Real Broker
Investment Insights
Based on property information with market context.
Built in 1931, this 3,392-square-foot mixed-use property combines a storefront retail component with a residence at the rear. The configuration supports commercial use alongside residential occupancy, with the rear dwelling currently leased. The building has been maintained, and the roof was replaced approximately one year and eight months ago. No known roof leaks are reported, and the plumbing is described as being in good condition.
The property is located at 2815 S Western Ave in Los Angeles, within the historic Jefferson Park neighborhood. WalkScore is 55, BikeScore is 66, and TransitScore is 52, providing measurable context for pedestrian, bicycle, and transit access. Tenant relocation assistance may be considered for a future owner-user or occupancy plan.
The property is located at 2815 S Western Ave in Los Angeles, within the historic Jefferson Park neighborhood. WalkScore is 55, BikeScore is 66, and TransitScore is 52, providing measurable context for pedestrian, bicycle, and transit access. Tenant relocation assistance may be considered for a future owner-user or occupancy plan.
Key Highlights
- 3,392‑square‑foot mixed‑use property with storefront retail and a rear residence
- Rear residence is currently generating rental income
- Roof replaced approximately one year and eight months ago
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
$91,864
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
5.25%
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%
$1,837,280
$1.8M
Cap Rate 7%
$1,312,343
$1.3M
Cap Rate 9%
$1,020,711
$1.0M
Market Conditions
NOI Build-Up for 3,392 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
$125.4K $36.96/SF
− Vacancy
−$2.9K −$0.85/SF
EGI
$122.5K $36.11/SF
− OpEx
−$30.6K −$9.03/SF
NOI
$91.9K $27.08/SF
Area
Los Angeles, CA
Vacancy
2.30%
Lease Rate
$36.96 /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%
$1,837,280
Cap Rate 7%
$1,312,343
Cap Rate 9%
$1,020,711
Alternative Uses
Best Use
Apartment 5plus
$59.97M
$52.47M – $69.96M
NOI $4,197,783 @ 7.0% cap · market cap 239.87%
Second Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,864 @ 7.0% cap · market cap 5.25%
Theoretical Best
Multifamily LT 5
$68.72M
$60.13M – $80.17M
NOI $4,810,392 @ 7.0% cap · market cap 274.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 90018, CA
50,179
Population
17,917
Households
2.8
Avg Household Size
37
Median Age
24%
College-Educated
74%
High-School Grad
3.0 sq mi
ZIP Area
16,726
Density / Sq Mi
$63,671
Median Household Income
$36,845
Median Earnings
$1,512
Median Rent
$886,800
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 - Commercial frontage paired with a rear residence creates a flexible retail and residential configuration.
Where is this mixed-use property located?
The property is located at 2815 S Western Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 3,392‑square‑foot mixed‑use property with storefront retail and a rear residence; Rear residence is currently generating rental income; Roof replaced approximately one year and eight months ago
