Pico Boulevard Auto Service
For Sale
Contact for pricing
4605-4619 W Pico Boulevard, Los Angeles, CA 90019
Automotive service property with development potential in central Los Angeles.
Property Size5,520 SF
Lot Size0.37 Acres
Price / SF$769.93
Days on Market97
Property Features for 4605-4619 W Pico Boulevard
General Information
Standard status
Active
Size
5,520 SF
Total Parking Spaces
12
Lot size
0.37 Acres
Property subtype
Retail
Zoning
C4-1-O
Investment Type
Institutional
Net Operating Income
$241,060
Building Details
Year Built
1932
Year Renovated
2023
Tenancy
Single
Listing Agency:
KW Beverly Hills
(310) 432-6400
Listed By:
Francisco Williams · License #CA 01979442
Source:
Crexi
Added: May 25
Changed: Aug 22
Last Checked: Aug 29 at 11:41AM
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 KW Beverly Hills
Investment Insights
Based on property information with market context.
Located in the Park Mile/Mid-Wilshire corridor of central Los Angeles, 4605-4619 W. Pico Boulevard features a 5,520 square foot automotive service and collision-repair building. The structure is situated on a consolidated C4-1-O commercial lot of approximately 16,254 square feet, resulting in a high land-to-building ratio. The property includes auto-service infrastructure, a spray booth, paint-mixing capability, customer access, and parking. The property may be suitable for owner-occupied control, strategic collision/auto-service acquisition, or future development. The site may be underwritten for 40 base units or up to 73 units on a qualifying TOC Tier 4 incentive path.
Key Highlights
- TOC Tier 4 development potential: up to 73 units possible (conceptual screen only).
- Large 16,254 SF commercial lot with a high land‑to‑building ratio.
- Existing 5,520 SF automotive service and collision‑repair building.
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
$128,104
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
3.01%
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%
$2,562,080
$2.6M
Cap Rate 7%
$1,830,057
$1.8M
Cap Rate 9%
$1,423,378
$1.4M
Market Conditions
NOI Build-Up for 5,520 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
$204.0K $36.96/SF
− Vacancy
−$21.0K −$3.81/SF
EGI
$183.0K $33.15/SF
− OpEx
−$54.9K −$9.95/SF
NOI
$128.1K $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%
$2,562,080
Cap Rate 7%
$1,830,057
Cap Rate 9%
$1,423,378
Alternative Uses
Best Use
Retail
$1.83M
$1.60M – $2.14M
NOI $128,104 @ 7.0% cap · market cap 3.01%
Second Best
Industrial
$979.6K
$857.2K – $1.14M
NOI $68,573 @ 7.0% cap · market cap 1.61%
Theoretical Best
Multifamily LT 5
$111.83M
$97.85M – $130.47M
NOI $7,828,232 @ 7.0% cap · market cap 184.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,635
Businesses Nearby
Well-served
Demand for This Use
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 Retail in Los Angeles, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mele's Tire Shop — 4800 W Washington Blvd A, Los Angeles, CA 90016
- E & W Auto Repair — 4800 W Washington Blvd, Los Angeles, CA 90016
- Total Tow — 4800 W Washington Blvd, Los Angeles, CA 90016
- Hugo's Auto Electric — 4800 W Washington Blvd D, Los Angeles, CA 90016
- AVANTORRS AUTO REPAIR — 4800 W Washington Blvd, Los Angeles, CA 90016
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service property with development potential in central Los Angeles.
Where is this auto shop located?
The property is located at 4605-4619 W Pico Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: TOC Tier 4 development potential: **up to 73 units possible** (conceptual screen only).; Large 16,254 SF commercial lot with a high land‑to‑building ratio.; Existing 5,520 SF automotive service and collision‑repair building.
