Mixed-Use Retail and
For Sale
$950,000
2921 W Florence, Los Angeles, CA 90043
Ground-floor commercial space is paired with an upstairs two-bedroom residence and a concrete patio.
Property Size1,950 SF
Price / SF$487.18
Days on Market29
Property Features for 2921 W Florence
General Information
Standard status
Active
Size
1,950 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Hyde Park
Utilities to Site
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
patio cover
concrete patio
Building Details
Building Size
1,950 SF
Year Built
1955
Buildings
1
Listing Agency:
TAMAYO & ASSOC. R.E.
Listed By:
SUSANA BOGGIO · License #01439504
(323) 725-7100
Source:
Condosalesexperts
Added: Sep 28
Changed: Oct 26
Last Checked: Oct 26 at 1:18PM
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.
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Investment Insights
Based on property information with market context.
This 1,950-square-foot mixed-use property in Los Angeles combines ground-floor retail space with a two-bedroom, two-bathroom apartment above. The retail area has an ADA-compliant bathroom, mini-split air conditioning, and updated flooring, walls, windows, and doors. The residence features a renovated kitchen, two bedroom air-conditioning units, and access to a covered patio. The building dates to 1955.
Additional features include a two-car garage, a tankless water heater, and separate electrical panels rated at 200 amps for the business and 100 amps for the residence. The improvements are described as completed with permits and brought up to code with LADBS.
Additional features include a two-car garage, a tankless water heater, and separate electrical panels rated at 200 amps for the business and 100 amps for the residence. The improvements are described as completed with permits and brought up to code with LADBS.
Key Highlights
- Ground‑floor retail space with an ADA‑compliant bathroom
- Upstairs apartment with 2 bedrooms and 2 full bathrooms
- 1,950 square feet; built in 1955
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,254
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,080
$905.1K
Cap Rate 7%
$646,486
$646.5K
Cap Rate 9%
$502,822
$502.8K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$72.1K $36.96/SF
− Vacancy
−$7.4K −$3.81/SF
EGI
$64.6K $33.15/SF
− OpEx
−$19.4K −$9.95/SF
NOI
$45.3K $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 Rate 5%
$905,080
Cap Rate 7%
$646,486
Cap Rate 9%
$502,822
Alternative Uses
Best Use
Retail
$646.5K
$565.7K – $754.2K
NOI $45,254 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$564.1K
$493.6K – $658.1K
NOI $39,488 @ 7.0% cap · market cap 4.16%
Theoretical Best
Multifamily LT 5
$39.51M
$34.57M – $46.09M
NOI $2,765,408 @ 7.0% cap · market cap 291.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
83k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 37%
Electronics 4%
ARCO
Shops & Services
25,148 visits/mo
0.3 miles
McDonald's
Dining
19,024 visits/mo
0.3 miles
Winchell's Donut House
Dining
8,630 visits/mo
0.1 miles
AMPM
Shops & Services
8,076 visits/mo
0.3 miles
Mobil
Shops & Services
7,837 visits/mo
0.3 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Los Angeles, CA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with an upstairs two-bedroom residence and a concrete patio.
Where is this mixed-use property located?
The property is located at 2921 W Florence Los Angeles, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Ground‑floor retail space with an ADA‑compliant bathroom; Upstairs apartment with 2 bedrooms and 2 full bathrooms; 1,950 square feet; built in 1955
