Mixed-Use Property with Gated
For Sale
$1,699,000
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
Price / SF$353.96
Days on Market159
Property Features for 7051 3rd
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
6
Property subtype
Commercial Sale / Mixed Use
Zoning
C2-1
Additional Details
Corner Location
Yes
Amenities
gated on-site parking
Building Details
Year Built
1951
Buildings
2
Listing Agency:
JRealty
Listed By:
America Morales · License #02191262
(310) 526-1318
Source:
Compass
Added: May 12
Changed: Oct 15
Last Checked: Oct 16 at 11:11AM
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
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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 / Yr
$111,394
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
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
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 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 400.66%
Second Best
Apartment 5plus
$84.86M
$74.25M – $99.00M
NOI $5,940,259 @ 7.0% cap · market cap 349.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 $1,699,000.
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
