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    Property profile & analytics

    12121 Washington Pl Los Angeles, CA 90066-5209

    • Investment properties
    • 4,661 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2025
    $1,450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8866467
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Terra Financial / Money Transfer Service / Check Cashing Service
    • MoneyGram / Money Transfer Service

    Property Details for 12121 Washington Pl

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    4,661 SF
    Zone code
    LAC2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    4235-029-038
    APU
    4235029038

    Description

    This probate sale presents a unique opportunity to acquire an eight-unit mixed-use property in a desirable West Los Angeles location. The 4,661 square foot building, constructed in 1960 on a 5,005 square foot lot, boasts a mix of residential and commercial units. Specifically, there are five two-bedroom, one-bathroom residential units, one one-bedroom, one-bathroom residential unit, and two commercial units. Currently, the occupancy rate is 87%, generating a net operating income (NOI) of $110,164, with a 6.48% cap rate. A pro-forma NOI of $180,871 and a pro-forma cap rate of 10.64% indicate significant value-add potential. The property includes seven parking spaces and is zoned LAC2. Note that one large two-bedroom unit is vacant and will be delivered vacant at close of escrow. All units have separate gas and electric meters. The property is being sold "as is" and "where is," with existing tenants in place. A mandatory soft story retrofit has not been completed, and a Certificate of Substandard Building has been recorded on the title. The seller, a court-appointed fiduciary, cannot make representations regarding the property's condition or history. Buyers are responsible for conducting their own due diligence. The asking price is $1,700,000, or $212,500 per unit, and $364.73 per square foot. This property offers easy access to shopping, dining, entertainment, and the I-405 freeway, and is minutes from Downtown Culver City and Venice Beach. The property will be open for viewing on November 1st and 5th, from 11:00 am to 1:00 pm.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.428
    Latitude
    34.0011
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,997
    $91,310
    $163,900
    $255,210
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
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      11229 Venice Blvd

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      12625 Venice Blvd

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    • Value Estimation
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      12056 Washington Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,865 SF
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      View Details
    • Value Estimation
      $250,000
      864 SF

      12804 Washington Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 864 SF
      12804 Washington Blvd, Los Angeles, CA 90066-5120
      View Details

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    Los Angeles, CA 90066-5209
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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