Building Details

Building Size 35,906 SF

Year Built 2022

Buildings 1

Stories 7

Listing Agency: Miller & Desatnik Realty Co.

Listed By: Errol Spiro · License #00893163 Show Phone

Source: Milsteinestates

Added: Oct 8 Changed: Oct 11 Last Checked: Oct 13 at 1:24AM

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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 Miller & Desatnik Realty Co.

Investment Insights

Based on property information with market context.

Completed in 2022, this seven-story mixed-use property at 5550 W Pico Blvd contains 44 apartments and approximately 1,000 square feet of ground-floor retail. The building totals 35,906 square feet. Apartment interiors include stainless steel appliances, quartz counters, air conditioning, in-unit laundry, and private balconies; many residences on upper floors have city and hillside views.

Residents have elevator service and controlled building access, with a gated entrance and on-site management. The property is in Mid-City Los Angeles.

Key Highlights

• 44 residential units in a seven‑story building completed in 2022
• 35,906 SF building with approximately 1,000 SF of ground‑floor retail
• Apartments include in‑unit laundry, air conditioning, and private balconies

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$727,097

Cap Rate

4.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$14,541,940 $14.5M

Cap Rate 7%

$10,387,100 $10.4M

Cap Rate 9%

$8,078,856 $8.1M

Market Conditions

NOI Build-Up for 35,906 SF

Gross rent

$1.29M $36.00/SF

− Vacancy

−$129.3K −$3.60/SF

EGI

$1.16M $32.40/SF

− OpEx

−$436.3K −$12.15/SF

NOI

$727.1K $20.25/SF

Area

Los Angeles, CA

Vacancy

10.00%

Lease Rate

$36.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$14,541,940

Cap Rate 7%

$10,387,100

Cap Rate 9%

$8,078,856

Alternative Uses

Best Use

Apartment 5plus

$634.79M

$555.45M – $740.59M (±1% cap)

NOI $44,435,616 @ 7.0% cap · market cap 246.93%

Second Best

Mixed Use

$10.39M

$9.09M – $12.12M (±1% cap)

NOI $727,097 @ 7.0% cap · market cap 4.04%

Theoretical Best

Multifamily LT 5

$727.43M

$636.50M – $848.67M (±1% cap)

NOI $50,920,380 @ 7.0% cap · market cap 282.97%

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

Property Analytics

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Open Analytics

Current Use

The Book Truck Association Or Organization

Suggested Use

Top Pick Real Estate Agency Travel Agency Tanning Salon (Bike/Boat/Book/etc) Store Veterinary Clinic Grocery & Convenience 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.

Lease Details

44

Residential units

Location Intelligence

Trade Area within ½ mile

1,652

Businesses Nearby

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 Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Seven floors of apartments sit above a ground-level retail component in a contemporary Los Angeles property.

Where is this mixed-use property located?

The property is located at 5550 W Pico Blvd Los Angeles, CA.

What is the asking price?

The asking price for this property is $17,995,000.

What are key features of this property?

This property features: 44 residential units in a seven‑story building completed in 2022; 35,906 SF building with approximately 1,000 SF of ground‑floor retail; Apartments include in‑unit laundry, air conditioning, and private balconies