Mixed-Use Building with
New
For Sale
$699,999
3374 Griffin, Los Angeles, CA 90031
Ground-floor retail and storage space is paired with two residential apartments.
Property Size2,673 SF
Days on Market2
Property Features for 3374 Griffin
General Information
Standard status
Active
Size
2,673 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
2,673 SF
Year Built
1907
Buildings
1
Units
3
Listing Agency:
GEORGE MICHAEL REALTY
Listed By:
ARMANDO ARENAS · License #01168227
(323) 728-2111
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 8:45PM
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 GEORGE MICHAEL REALTY
Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-level grocery and convenience store with additional warehouse and storage areas. The upper level contains two residential apartments, creating a configuration that supports commercial operations alongside residential occupancy.
Located at 3374 Griffin in Los Angeles’ Lincoln Heights community, the property offers access to Downtown Los Angeles, the Metro Goldline, and major transportation routes. The site records a Walk Score of 76, a Bike Score of 83, and a Transit Score of 66. Built in 1907, the building can accommodate a live/work arrangement or a combination of commercial and residential uses, subject to verification of zoning, permitted uses, square footage, and other property information.
Located at 3374 Griffin in Los Angeles’ Lincoln Heights community, the property offers access to Downtown Los Angeles, the Metro Goldline, and major transportation routes. The site records a Walk Score of 76, a Bike Score of 83, and a Transit Score of 66. Built in 1907, the building can accommodate a live/work arrangement or a combination of commercial and residential uses, subject to verification of zoning, permitted uses, square footage, and other property information.
Key Highlights
- Ground‑level grocery and convenience store
- Additional warehouse and storage space included
- Two residential apartments above the commercial area
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
$62,033
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
8.86%
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%
$1,240,660
$1.2M
Cap Rate 7%
$886,186
$886.2K
Cap Rate 9%
$689,256
$689.3K
Market Conditions
NOI Build-Up for 2,673 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
$98.8K $36.96/SF
− Vacancy
−$10.2K −$3.81/SF
EGI
$88.6K $33.15/SF
− OpEx
−$26.6K −$9.95/SF
NOI
$62.0K $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%
$1,240,660
Cap Rate 7%
$886,186
Cap Rate 9%
$689,256
Alternative Uses
Best Use
Apartment 5plus
$47.26M
$41.35M – $55.13M
NOI $3,307,982 @ 7.0% cap · market cap 472.57%
Second Best
Specialty Retail
$1.03M
$904.9K – $1.21M
NOI $72,391 @ 7.0% cap · market cap 10.34%
Theoretical Best
Multifamily LT 5
$54.15M
$47.38M – $63.18M
NOI $3,790,736 @ 7.0% cap · market cap 541.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
Explore this area
Business Placement
Demographics for 90031, CA
37,333
Population
12,686
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
66%
High-School Grad
3.5 sq mi
ZIP Area
10,667
Density / Sq Mi
$62,119
Median Household Income
$34,356
Median Earnings
$1,487
Median Rent
$758,500
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail and storage space is paired with two residential apartments.
Where is this mixed-use property located?
The property is located at 3374 Griffin Los Angeles, CA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Ground‑level grocery and convenience store; Additional warehouse and storage space included; Two residential apartments above the commercial area
