Remodeled Mixed-Use
For Sale
$899,000
2921 FLORENCE, Los Angeles, CA 90043
Remodeled mixed-use property featuring retail space and residential unit.
Property Size1,950 SF
Lot Size0.07 Acres
Price / SF$461.03
Days on Market353
Property Features for 2921 FLORENCE
General Information
Standard status
Active
Size
1,950 SF
Lot size
0.07 Acres
Property subtype
Commercial
Amenities
Central air
Flat Roof
No Landscaping
Wall Window Units Cooling
Building Details
Year Built
1955
Listing Agency:
TAMAYO & ASSOC. R.E.
(888) 490-1444
Listed By:
SUSANA BOGGIO · License #01439504
(323) 725-7100
Source:
Corcoran
Added: Sep 18, 2025
Changed: Aug 19
Last Checked: Sep 5 at 6:30AM
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 TAMAYO & ASSOC. R.E.
Investment Insights
Based on property information with market context.
This remodeled mixed-use property features a first-floor retail building with a bathroom compliant with ADA regulations. The retail space includes new floors, walls, windows, and doors, along with a mini-split A/C system. All renovations were completed with permits and brought up to code with the LADBS. The upper unit is a two-bedroom apartment with two full bathrooms, a new kitchen, cabinets, windows, and doors, and two A/C units in the bedrooms. A large covered patio provides space for gatherings. The property includes a spacious concrete patio and a two-car garage that is ready to be converted into an ADU. The property also features a new garage door, a waterless water tank, and an upgraded electrical panel with 200 amps for the business and 100 amps for the residential unit. The property is suitable for running a business and renting out the apartment. The property size is 1950 square feet.
Key Highlights
- Remodeled mixed‑use property with first‑floor retail space and a 2‑bedroom apartment, offering income potential.
- Retail space is ADA compliant, with new floors, walls, windows, and doors, and A/C mini‑split system.
- Upper 2‑bedroom apartment is totally redone with new kitchen cabinets, windows, doors, and two A/C units in the bedrooms.
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
$39,488
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
4.39%
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%
$789,760
$789.8K
Cap Rate 7%
$564,114
$564.1K
Cap Rate 9%
$438,756
$438.8K
Market Conditions
NOI Build-Up for 1,950 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
$70.2K $36.00/SF
− Vacancy
−$7.0K −$3.60/SF
EGI
$63.2K $32.40/SF
− OpEx
−$23.7K −$12.15/SF
NOI
$39.5K $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%
$789,760
Cap Rate 7%
$564,114
Cap Rate 9%
$438,756
Alternative Uses
Best Use
Mixed Use
$564.1K
$493.6K – $658.1K
NOI $39,488 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$39.51M
$34.57M – $46.09M
NOI $2,765,408 @ 7.0% cap · market cap 307.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 90043, CA
46,179
Population
18,307
Households
2.5
Avg Household Size
41
Median Age
31%
College-Educated
85%
High-School Grad
4.1 sq mi
ZIP Area
11,263
Density / Sq Mi
$65,496
Median Household Income
$42,077
Median Earnings
$1,424
Median Rent
$867,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Remodeled mixed-use property featuring retail space and residential unit.
Where is this mixed-use property located?
The property is located at 2921 FLORENCE Los Angeles, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Remodeled mixed‑use property with first‑floor retail space and a 2‑bedroom apartment, offering income potential.; Retail space is ADA compliant, with new floors, walls, windows, and doors, and A/C mini‑split system.; Upper 2‑bedroom apartment is totally redone with new kitchen cabinets, windows, doors, and two A/C units in the bedrooms.
