Adjacent Multifamily and Retail
5022 West Washington Boulevard Los Angeles, CA 90016
5022 West Washington Boulevard, Los Angeles, CA, 90016
Contact for pricing
For Sale
Contact for pricing
Portfolio includes a 21-unit apartment complex and a separate commercial building, both in an Opportunity Zone.
Property Size11,093 SF
Lot Size0.48 Acres
Price / SF$392.14
Days on Market45
Property Features for 5022 West Washington Boulevard
General Information
- Standard status
- Active
- Size
- 11,093 SF
- Lot size
- 0.48 Acres
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1939
Listing agency
Major Properties
(310) 880-2329
Listed by
Jesse McKenzie · License #CA 01939062
Source
Crexi
Added: Jun 9 Updated: Jul 23 at 1:09AM Checked: Jul 23 at 1:09AM
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 Major Properties
Investment Insights
Based on property information with market context.
An adjacent two-property portfolio offers a mix of residential income and commercial space along the Washington Boulevard corridor. 5022 W Washington Blvd is a 21-unit apartment complex with 3 vacant units and an approximately 17,553 SF building on an approximately 10,097 SF lot. The property includes 11 parking spaces and is zoned LAC2-1VL-CPIO (APN 5062-004-012).
5024–5030 W Washington Blvd is a commercial property with an approximately 13,540 SF building on an approximately 10,669 SF lot, supported by 12 parking spaces. This site is also zoned LAC2-1VL-CPIO (APN 5062-004-011) and is presented as a redevelopment opportunity.
Together, the portfolio totals approximately 11,093 SF of buildings on approximately 20,766 SF of land, and is designated as a Qualified Opportunity Zone. The offering can be acquired individually or together, with the portfolio presented as a value-add opportunity.
5024–5030 W Washington Blvd is a commercial property with an approximately 13,540 SF building on an approximately 10,669 SF lot, supported by 12 parking spaces. This site is also zoned LAC2-1VL-CPIO (APN 5062-004-011) and is presented as a redevelopment opportunity.
Together, the portfolio totals approximately 11,093 SF of buildings on approximately 20,766 SF of land, and is designated as a Qualified Opportunity Zone. The offering can be acquired individually or together, with the portfolio presented as a value-add opportunity.
Key Highlights
- Two adjacent properties at 5022 W Washington Blvd and 5024‑5030 W Washington Blvd, total 11,093 SF of buildings on 20,766 SF of land
- 21‑unit apartment complex at 5022 W Washington Blvd: 7,553 SF building on 10,097 SF lot; zoned LAC2‑1VL‑CPIO; 11 parking spaces
- 5024‑5030 W Washington Blvd commercial building: 3,540 SF building on 10,669 SF lot; zoned LAC2‑1VL‑CPIO; 12 parking spaces
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $410.0k | $36.96 |
| − Vacancy | −$42.2k | −$3.81 |
| EGI | $367.8k | $33.15 |
| − OpEx | −$110.3k | −$9.95 |
| NOI | $257.4k | $23.21 |
11,093 SF · lease $36.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$196.12M
$171.60M – $228.80M
NOI $13,728,187 @ 7.0% cap · market cap 315.59%
Second Best
Retail
$3.68M
$3.22M – $4.29M
NOI $257,437 @ 7.0% cap · market cap 5.92%
Theoretical Best
Multifamily LT 5
$224.74M
$196.65M – $262.19M
NOI $15,731,626 @ 7.0% cap · market cap 361.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Portfolio includes a 21-unit apartment complex and a separate commercial building, both in an Opportunity Zone.
Where is this apartment building located?
The property is located at 5022 West Washington Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Two adjacent properties at 5022 W Washington Blvd and 5024‑5030 W Washington Blvd, total 11,093 SF of buildings on 20,766 SF of land; 21‑unit apartment complex at 5022 W Washington Blvd: 7,553 SF building on 10,097 SF lot; zoned LAC2‑1VL‑CPIO; 11 parking spaces; 5024‑5030 W Washington Blvd commercial building: 3,540 SF building on 10,669 SF lot; zoned LAC2‑1VL‑CPIO; 12 parking spaces
