Four-Unit Mixed-Use
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For Sale
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3069 W Pico Blvd, Los Angeles, CA 90006
Mixed-use configuration combines restaurant space with three residential rental units along the Pico Boulevard corridor.
Property Size2,549 SF
Price / SF$351.12
Days on Market7
Property Features for 3069 W Pico Blvd
General Information
Standard status
Active
Size
2,549 SF
Property subtype
Mixed Use
Net Operating Income
$56,476
Financials
Asking Price
$895,000
Cap Rate
6.31%
Additional Details
Highway Access
Yes
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 463-2916
Source:
Crexi
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 2:37PM
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 Stepp Commercial
Investment Insights
Based on property information with market context.
This 2,549-square-foot mixed-use property contains approximately 1,149 square feet of restaurant space alongside three residential units: two one-bedroom, one-bath apartments and one studio. The four-unit configuration combines commercial and residential components within a single asset, with the restaurant currently operating on-site and the apartments providing additional rental use.
Located at 3069 W. Pico Boulevard in Los Angeles, the property sits just north of the I-10 Freeway and between Koreatown, Pico-Union, and Harvard Heights. The corridor connects with Downtown Los Angeles, West Adams, the Westside, and nearby employment and transportation districts. Surrounding development includes newer multifamily communities and planned mixed-use projects.
Located at 3069 W. Pico Boulevard in Los Angeles, the property sits just north of the I-10 Freeway and between Koreatown, Pico-Union, and Harvard Heights. The corridor connects with Downtown Los Angeles, West Adams, the Westside, and nearby employment and transportation districts. Surrounding development includes newer multifamily communities and planned mixed-use projects.
Key Highlights
- 2,549‑square‑foot mixed‑use property with four total units
- Approximately 1,149 square feet of restaurant space
- Two one‑bedroom/one‑bath units plus one studio
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
$69,033
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
7.71%
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%
$1,380,660
$1.4M
Cap Rate 7%
$986,186
$986.2K
Cap Rate 9%
$767,033
$767.0K
Market Conditions
NOI Build-Up for 2,549 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
$94.2K $36.96/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$92.0K $36.11/SF
− OpEx
−$23.0K −$9.03/SF
NOI
$69.0K $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%
$1,380,660
Cap Rate 7%
$986,186
Cap Rate 9%
$767,033
Alternative Uses
Best Use
Apartment 5plus
$45.06M
$39.43M – $52.58M
NOI $3,154,525 @ 7.0% cap · market cap 352.46%
Second Best
Specialty Retail
$986.2K
$862.9K – $1.15M
NOI $69,033 @ 7.0% cap · market cap 7.71%
Theoretical Best
Multifamily LT 5
$51.64M
$45.19M – $60.25M
NOI $3,614,885 @ 7.0% cap · market cap 403.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use configuration combines restaurant space with three residential rental units along the Pico Boulevard corridor.
Where is this mixed-use property located?
The property is located at 3069 W Pico Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 2,549‑square‑foot mixed‑use property with four total units; Approximately 1,149 square feet of restaurant space; Two one‑bedroom/one‑bath units plus one studio
