Two-Story Mixed-Use
New
For Sale
$3,600,000
4117 W Pico Blvd, Los Angeles, CA 90019
Flexible commercial layout with LAC4 zoning and prominent Pico Boulevard frontage.
Property Size7,704 SF
Price / SF$467.29
Days on Market2
Property Features for 4117 W Pico Blvd
General Information
Standard status
Active
Size
7,704 SF
Property subtype
Commercial
Zoning
LAC4
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Asking Price
$3,600,000
Building Details
Building Size
7,704 SF
Year Built
1924
Buildings
1
Stories
2
Listing Agency:
eXp Commercial
(323) 422-1910
Listed By:
Louis Chavez · License #01949822
(323) 422-1910
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 19 at 12:29PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This approximately 7,704-square-foot, two-story mixed-use property at 4117 W Pico Boulevard provides a flexible commercial configuration. The building was constructed in 1924 and is suited to layouts supporting professional offices, medical or dental offices, banquet or event operations, religious assembly, educational use, or creative workspace, subject to verification of permitted uses and occupancy requirements.
The property fronts Pico Boulevard in Los Angeles, with access to Koreatown, Mid-City, Downtown Los Angeles, and the Westside. LAC4 zoning supports its existing commercial character and should be independently confirmed with the appropriate agencies. Walk Score is 79, Transit Score is 69, and Bike Score is 58.
The property fronts Pico Boulevard in Los Angeles, with access to Koreatown, Mid-City, Downtown Los Angeles, and the Westside. LAC4 zoning supports its existing commercial character and should be independently confirmed with the appropriate agencies. Walk Score is 79, Transit Score is 69, and Bike Score is 58.
Key Highlights
- Approximately 7,704‑square‑foot, two‑story commercial building
- Prominent frontage along Pico Boulevard
- LAC4 zoning
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
$182,864
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
5.08%
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%
$3,657,280
$3.7M
Cap Rate 7%
$2,612,343
$2.6M
Cap Rate 9%
$2,031,822
$2.0M
Market Conditions
NOI Build-Up for 7,704 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
$299.5K $38.88/SF
− Vacancy
−$55.7K −$7.23/SF
EGI
$243.8K $31.65/SF
− OpEx
−$61.0K −$7.91/SF
NOI
$182.9K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /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%
$3,657,280
Cap Rate 7%
$2,612,343
Cap Rate 9%
$2,031,822
Alternative Uses
Best Use
Office B
$2.61M
$2.29M – $3.05M
NOI $182,864 @ 7.0% cap · market cap 5.08%
Second Best
Mixed Use
$2.23M
$1.95M – $2.60M
NOI $156,006 @ 7.0% cap · market cap 4.33%
Theoretical Best
Multifamily LT 5
$156.08M
$136.57M – $182.09M
NOI $10,925,489 @ 7.0% cap · market cap 303.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 90019, CA
62,002
Population
26,203
Households
2.4
Avg Household Size
38
Median Age
39%
College-Educated
80%
High-School Grad
3.9 sq mi
ZIP Area
15,898
Density / Sq Mi
$71,395
Median Household Income
$40,316
Median Earnings
$1,782
Median Rent
$1,178,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial layout with LAC4 zoning and prominent Pico Boulevard frontage.
Where is this mixed-use property located?
The property is located at 4117 W Pico Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Approximately 7,704‑square‑foot, two‑story commercial building; Prominent frontage along Pico Boulevard; LAC4 zoning
