Mixed-Use Retail and Apartment
For Sale
$8,700,000
4673 Hollywood Boulevard Los Angeles, Los Angeles, CA 90027
12,946-square-foot mixed-use building with six leased retail tenants and thirteen apartment units above.
Property Size12,946 SF
Price / SF$672.02
Days on Market60
Property Features for 4673 Hollywood Boulevard Los Angeles
General Information
Standard status
Active
Size
12,946 SF
Total Parking Spaces
16
Zoning
LAC2
Net Operating Income
$524,530
Additional Details
Multifamily Units
13
Amenities
2
13503
16
100x135
0.31
12946
1
Building Details
Building Size
12,946 SF
Year Built
1923
Buildings
1
Listed By:
Jonathan Becerra
(909) 328-1567
Source:
Rmarealty
Added: Jul 14
Changed: Sep 10
Last Checked: Sep 11 at 4:46AM
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 Jonathan Becerra
Investment Insights
Based on property information with market context.
Verwood is a 12,946-square-foot mixed-use retail and apartment building with thirteen residential units on the second story and six leased retail tenants at street level. Since 2017, ownership has completed more than $2 million in modernization work, including seismic upgrades, major electrical and plumbing enhancements, new HVAC, roof replacement, facade improvements, extensive tenant buildouts, and the renovation of eight apartment units.
The property is located at 4673 Hollywood Boulevard, one parcel east of the northeast signalized corner of Hollywood Boulevard and Vermont Avenue in the heart of Los Feliz, California. The retail component is currently leased to six tenants on triple-net leases, and retail suites average just over 1,000 square feet, which can support efficient leasing with limited tenant improvement requirements.
Ten of the thirteen apartment units have been renovated, providing stabilized residential income with continued value through repositioning of the remaining units.
The property is located at 4673 Hollywood Boulevard, one parcel east of the northeast signalized corner of Hollywood Boulevard and Vermont Avenue in the heart of Los Feliz, California. The retail component is currently leased to six tenants on triple-net leases, and retail suites average just over 1,000 square feet, which can support efficient leasing with limited tenant improvement requirements.
Ten of the thirteen apartment units have been renovated, providing stabilized residential income with continued value through repositioning of the remaining units.
Key Highlights
- 12,946 SF mixed‑use building on 0.31‑acre lot (100x135) with 6 leased retail units and 13 apartment units above
- Owned since 2017 with over $2M invested in modernization including seismic upgrades, major electrical/plumbing enhancements, and new HVAC
- Property improvements also include roof replacement and facade improvements, plus extensive tenant buildouts
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
Apartment 5plus
$228.88M
$200.27M – $267.02M
NOI $16,021,375 @ 7.0% cap · market cap 184.15%
Second Best
Retail
$4.29M
$3.76M – $5.01M
NOI $300,440 @ 7.0% cap · market cap 3.45%
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
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Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
6,274
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 12,946-square-foot mixed-use building with six leased retail tenants and thirteen apartment units above.
Where is this mixed-use property located?
The property is located at 4673 Hollywood Boulevard Los Angeles 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: 12,946 SF mixed‑use building on 0.31‑acre lot (100x135) with 6 leased retail units and 13 apartment units above; Owned since 2017 with over $2M invested in modernization including seismic upgrades, major electrical/plumbing enhancements, and new HVAC; Property improvements also include roof replacement and facade improvements, plus extensive tenant buildouts
