Mixed-Use Property with
For Sale
Contact for pricing
3209 West Washington Boulevard, Los Angeles, CA 90018
Residential units and commercial suites share a single property, bringing two occupancy types into one configuration.
Property Size7,396 SF
Lot Size0.17 Acres
Price / SF$445.51
Days on Market9
Property Features for 3209 West Washington Boulevard
General Information
Standard status
Active
Size
7,396 SF
Lot size
0.17 Acres
Property subtype
Retail, Multifamily, Mixed Use
Additional Details
Multifamily Units
12
Listing Agency:
Capstone Real Estate
Listed By:
Daniel Mizrahi · License #BK3585598
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 24 at 2:04PM
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 Capstone Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property combines 12 residential units with 4 commercial spaces. The building contains approximately 7,396 square feet and occupies a site of approximately 7,424 SF, or .17 AC.
The property is located between the West Adams and Arlington Heights submarkets in Los Angeles, at 3209 West Washington Boulevard.
The property is located between the West Adams and Arlington Heights submarkets in Los Angeles, at 3209 West Washington Boulevard.
Key Highlights
- 12 residential units and 4 commercial spaces
- Approximately 7,396 square feet of building area
- Approximately 7,424 SF (.17 AC.) of land
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
$171,640
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
5.21%
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%
$3,432,800
$3.4M
Cap Rate 7%
$2,452,000
$2.5M
Cap Rate 9%
$1,907,111
$1.9M
Market Conditions
NOI Build-Up for 7,396 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
$273.4K $36.96/SF
− Vacancy
−$28.2K −$3.81/SF
EGI
$245.2K $33.15/SF
− OpEx
−$73.6K −$9.95/SF
NOI
$171.6K $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 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%
$3,432,800
Cap Rate 7%
$2,452,000
Cap Rate 9%
$1,907,111
Alternative Uses
Best Use
Apartment 5plus
$130.76M
$114.41M – $152.55M
NOI $9,152,950 @ 7.0% cap · market cap 277.78%
Second Best
Retail
$2.45M
$2.15M – $2.86M
NOI $171,640 @ 7.0% cap · market cap 5.21%
Theoretical Best
Multifamily LT 5
$149.84M
$131.11M – $174.81M
NOI $10,488,696 @ 7.0% cap · market cap 318.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
2,117
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
Check the figures for this property
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 - Residential units and commercial suites share a single property, bringing two occupancy types into one configuration.
Where is this mixed-use property located?
The property is located at 3209 West Washington Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: 12 residential units and 4 commercial spaces; Approximately 7,396 square feet of building area; Approximately 7,424 SF (.17 AC.) of land
