Building Details

Building Size 4,018 SF

Year Built 1923

Buildings 1

Stories 1

Listing Agency: Apex Properties

Listed By: Christopher Comfort · License #01407997 Show Phone

Source: Evrealestate

Added: Jul 9 Changed: Oct 17 Last Checked: Oct 19 at 4:58AM

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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 Apex Properties

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Investment Insights

Based on property information with market context.

This for-sale retail storefront property is located at 4703 Melrose in Los Angeles, California 90029. The property is presented as a storefront/retail asset and is listed for $1,740,000.

The listing indicates the property is situated in Los Angeles County. No additional details on building size, layout, condition, tenants, or parking are provided in the information available.

Key Highlights

• Retail storefront property in Los Angeles
• Listed for $1,740,000
• Built in 1923

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$93,246

Cap Rate

5.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,864,920 $1.9M

Cap Rate 7%

$1,332,086 $1.3M

Cap Rate 9%

$1,036,067 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,018 SF

Gross rent

$148.5K $36.96/SF

− Vacancy

−$15.3K −$3.81/SF

EGI

$133.2K $33.15/SF

− OpEx

−$40.0K −$9.95/SF

NOI

$93.2K $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 Rate 5%

$1,864,920

Cap Rate 7%

$1,332,086

Cap Rate 9%

$1,036,067

Alternative Uses

Best Use

Retail

$1.33M

$1.17M – $1.55M (±1% cap)

NOI $93,246 @ 7.0% cap · market cap 5.36%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$81.40M

$71.23M – $94.97M (±1% cap)

NOI $5,698,159 @ 7.0% cap · market cap 327.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency (Bike/Boat/Book/etc) Store Travel Agency Tanning Salon Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,808

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 90029, CA

34,695

Population

14,465

Households

2.4

Avg Household Size

37

Median Age

36%

College-Educated

76%

High-School Grad

1.4 sq mi

ZIP Area

24,782

Density / Sq Mi

$60,793

Median Household Income

$35,801

Median Earnings

$1,644

Median Rent

$1,066,200

Median Home Value

Market

Vacancy Rate% for Retail in Los Angeles, CA

5.7% 2019

6.1% 2020

6% 2021

5.7% 2022

5.6% 2023

6% 2024

6.2% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - For-sale retail storefront property located in Los Angeles, listed at $1,740,000.

Where is this storefront property located?

The property is located at 4703 Melrose Los Angeles, CA.

What is the asking price?

The asking price for this property is $1,740,000.

What are key features of this property?

This property features: Retail storefront property in Los Angeles; Listed for $1,740,000; Built in 1923