Remodeled Mixed-Use Property Near
For Sale
Contact for pricing
323-325 Culver Blvd, Playa del Rey, CA 90293
Six-unit property with retail, office, and residential spaces.
Property Size4,451 SF
Price / SF$797.57
Days on Market112
Property Features for 323-325 Culver Blvd
General Information
Standard status
Active
Size
4,451 SF
Property subtype
Mixed Use
Zoning
LAC4
Investment Type
Sale/Leaseback
Building Details
Year Built
2020
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
Palm Realty Boutique
(310) 678-7158
Listed By:
Brett Zebrowski · License #01313739
Source:
Crexi
Added: May 10
Changed: Aug 26
Last Checked: Aug 28 at 8:09PM
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 Palm Realty Boutique
Investment Insights
Based on property information with market context.
This remodeled six-unit property features two buildings and overlooks the Ballona Wetlands. Suited for an investor, owner/user, or live/work arrangement, the property has been repositioned with a modern black luxury exterior and updated curb appeal, establishing a strong commercial presence on Culver Blvd. The property contains 4,451 square feet. Located in the coastal community of Playa Del Rey, the asset is close to restaurants, cafes, shops and the beach, with immediate access to Silicon Beach and the Westside tech corridor. The mixed-use property includes two retail storefronts, two offices, and two residential units. LAC4 zoning provides flexible use and development potential.
Key Highlights
- Remodeled 6‑unit property with modern black luxury exterior.
- Overlooks the Ballona Wetlands with close proximity to Playa Del Rey beach, restaurants, cafes, and shops.
- Mixed‑use property: 2 Retail Storefronts, 2 Offices, and 2 Residential Units.
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
$103,295
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
2.91%
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%
$2,065,900
$2.1M
Cap Rate 7%
$1,475,643
$1.5M
Cap Rate 9%
$1,147,722
$1.1M
Market Conditions
NOI Build-Up for 4,451 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
$164.5K $36.96/SF
− Vacancy
−$16.9K −$3.81/SF
EGI
$147.6K $33.15/SF
− OpEx
−$44.3K −$9.95/SF
NOI
$103.3K $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 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%
$2,065,900
Cap Rate 7%
$1,475,643
Cap Rate 9%
$1,147,722
Alternative Uses
Best Use
Retail
$1.48M
$1.29M – $1.72M
NOI $103,295 @ 7.0% cap · market cap 2.91%
Second Best
Mixed Use
$1.29M
$1.13M – $1.50M
NOI $90,133 @ 7.0% cap · market cap 2.54%
Theoretical Best
Multifamily LT 5
$90.17M
$78.90M – $105.20M
NOI $6,312,221 @ 7.0% cap · market cap 177.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Explore this area
Business Placement
Demographics for 90293, CA
12,633
Population
7,050
Households
1.8
Avg Household Size
41
Median Age
72%
College-Educated
99%
High-School Grad
2.7 sq mi
ZIP Area
4,679
Density / Sq Mi
$130,699
Median Household Income
$83,438
Median Earnings
$2,734
Median Rent
$971,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six-unit property with retail, office, and residential spaces.
Where is this mixed-use property located?
The property is located at 323-325 Culver Blvd Playa del Rey, CA.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Remodeled 6‑unit property with modern black luxury exterior.; Overlooks the Ballona Wetlands with close proximity to Playa Del Rey beach, restaurants, cafes, and shops.; Mixed‑use property: 2 Retail Storefronts, 2 Offices, and 2 Residential Units.
