Mixed-Use Property with Gated
For Sale
$1,750,000
7051 3rd, Los Angeles, CA 90043
Corner property with commercial storefront frontage and three residential units, plus gated on-site parking accessed from the 3rd St side.
Property Size4,800 SF
Days on Market98
Property Features for 7051 3rd
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
6
Zoning
C2-1
Additional Details
Corner Location
Yes
Amenities
gated on-site parking
Building Details
Building Size
4,800 SF
Year Built
1951
Buildings
2
Stories
2
Listing Agency:
JRealty
Listed By:
America Morales · License #02191262
(310) 526-1318
Source:
Evrealestate
Added: May 28
Changed: Aug 28
Last Checked: Sep 1 at 5:48PM
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 JRealty
Investment Insights
Based on property information with market context.
This corner mixed-use property features commercial storefront frontage along Florence Ave and three residential units on the 3rd Ave side. The site also includes gated on-site parking, accessed from the 3rd St side.
Built in 1951, the property offers a straightforward live/work style layout with street-facing retail presence on one side and residential units positioned along 3rd Ave.
The combination of commercial frontage, residential units, and secure, gated parking supports a practical mixed-use configuration for prospective tenants and owners.
Built in 1951, the property offers a straightforward live/work style layout with street-facing retail presence on one side and residential units positioned along 3rd Ave.
The combination of commercial frontage, residential units, and secure, gated parking supports a practical mixed-use configuration for prospective tenants and owners.
Key Highlights
- Corner property with commercial storefront frontage on Florence Ave
- Three residential units on the 3rd Ave side
- Gated on‑site parking accessed from the 3rd St side
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
$111,394
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
6.37%
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%
$2,227,880
$2.2M
Cap Rate 7%
$1,591,343
$1.6M
Cap Rate 9%
$1,237,711
$1.2M
Market Conditions
NOI Build-Up for 4,800 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
$177.4K $36.96/SF
− Vacancy
−$18.3K −$3.81/SF
EGI
$159.1K $33.15/SF
− OpEx
−$47.7K −$9.95/SF
NOI
$111.4K $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%
$2,227,880
Cap Rate 7%
$1,591,343
Cap Rate 9%
$1,237,711
Alternative Uses
Best Use
Multifamily LT 5
$97.25M
$85.09M – $113.45M
NOI $6,807,158 @ 7.0% cap · market cap 388.98%
Second Best
Apartment 5plus
$84.86M
$74.25M – $99.00M
NOI $5,940,259 @ 7.0% cap · market cap 339.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,771
Businesses Nearby
Explore this area
Business Placement
Demographics for 90043, CA
46,179
Population
18,307
Households
2.5
Avg Household Size
41
Median Age
31%
College-Educated
85%
High-School Grad
4.1 sq mi
ZIP Area
11,263
Density / Sq Mi
$65,496
Median Household Income
$42,077
Median Earnings
$1,424
Median Rent
$867,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property with commercial storefront frontage and three residential units, plus gated on-site parking accessed from the 3rd St side.
Where is this mixed-use property located?
The property is located at 7051 3rd Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Corner property with commercial storefront frontage on Florence Ave; Three residential units on the 3rd Ave side; Gated on‑site parking accessed from the 3rd St side
