Mixed-Use Retail and Apartment
For Sale
Contact for pricing
Pending
4673 Hollywood Blvd, Los Angeles, CA 90027
12,946 SF mixed-use building in Los Feliz, California.
Property Size12,946 SF
Days on Market186
Property Features for 4673 Hollywood Blvd
General Information
Standard status
Pending
Size
12,946 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
C2
Occupancy
91%
Investment Type
Stabilized
Net Operating Income
$524,530
Building Details
Year Built
1923
Year Renovated
2019
Buildings
1
Stories
2
Units
19
Listing Agency:
The CREM Group
Listed By:
Andrew Leff · License #CA 01865688
Source:
Crexi
Added: Feb 12
Changed: Aug 14
Last Checked: Aug 17 at 9:06AM
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 The CREM Group
Investment Insights
Based on property information with market context.
Located at 4673 Hollywood Boulevard in Los Feliz, California, Verwood is a 12,946 square foot mixed-use building featuring retail and apartment units. The property is situated one parcel east of the northeast signalized corner of Hollywood Boulevard and Vermont Avenue. Since 2017, the property has undergone a comprehensive modernization program with an investment of over $2 million. These upgrades include seismic enhancements, major electrical and plumbing improvements, a new HVAC system, a roof replacement, facade improvements, and extensive tenant buildouts. Additionally, eight apartment units have been renovated, enhancing safety, efficiency, and tenant appeal. The property includes six retail tenants on triple-net leases and thirteen apartment units on the second story. The retail lineup includes Kettl Tea, Old Gold Vegan Pizza, Red Gate Bakery, Face Facial Bar, Studio-a-go-go, and Puppy Fades. Retail suites average just over 1,000 square feet. Ten of the thirteen apartment units have been renovated, providing stabilized residential income with continued value-add potential through the repositioning of the remaining units.
Key Highlights
- Extensive $2 million+ modernization since 2017: includes seismic upgrades, electrical/plumbing enhancements, new HVAC, and roof replacement.
- Prime location: just east of the signalized corner of Hollywood Boulevard and Vermont Avenue in Los Feliz.
- Mixed‑use property: features six high‑quality retail tenants on triple‑net leases and thirteen apartment 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
$300,440
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
3.45%
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%
$6,008,800
$6.0M
Cap Rate 7%
$4,292,000
$4.3M
Cap Rate 9%
$3,338,222
$3.3M
Market Conditions
NOI Build-Up for 12,946 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
$478.5K $36.96/SF
− Vacancy
−$49.3K −$3.81/SF
EGI
$429.2K $33.15/SF
− OpEx
−$128.8K −$9.95/SF
NOI
$300.4K $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%
$6,008,800
Cap Rate 7%
$4,292,000
Cap Rate 9%
$3,338,222
Alternative Uses
Best Use
Retail
$4.29M
$3.76M – $5.01M
NOI $300,440 @ 7.0% cap · market cap 3.45%
Second Best
Mixed Use
$3.75M
$3.28M – $4.37M
NOI $262,157 @ 7.0% cap · market cap 3.01%
Theoretical Best
Multifamily LT 5
$262.28M
$229.49M – $305.99M
NOI $18,359,473 @ 7.0% cap · market cap 211.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,582
Businesses Nearby
Explore this area
Business Placement
Demographics for 90027, CA
44,471
Population
24,267
Households
1.8
Avg Household Size
39
Median Age
58%
College-Educated
92%
High-School Grad
8.1 sq mi
ZIP Area
5,490
Density / Sq Mi
$90,532
Median Household Income
$53,526
Median Earnings
$1,904
Median Rent
$1,747,200
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 12,946 SF mixed-use building in Los Feliz, California.
Where is this mixed-use property located?
The property is located at 4673 Hollywood Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $8,700,000.
What are key features of this property?
This property features: Extensive $2 million+ modernization since 2017: includes seismic upgrades, electrical/plumbing enhancements, new HVAC, and roof replacement.; Prime location: just east of the signalized corner of Hollywood Boulevard and Vermont Avenue in Los Feliz.; Mixed‑use property: features six high‑quality retail tenants on triple‑net leases and thirteen apartment units.
