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    Property profile & analytics

    6023 Hazeltine Ave Van Nuys, CA 91401-3525

    • Manufacturing properties
    • 4,216 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Jul 29, 2022
    $1,350,013
    Value Estimations
    $1,165,000
    Show details
    Cap Rate Potential
    4.2%
    Manufacturing properties
    Location Intelligence
    Property ID
    US09-7878993
    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

    • AUTOParkit™ / Automation Company / Boat Storage Facility
    • DASHER/LAWLESS, INC. / Construction Company / Real Estate Developer

    Property Details for 6023 Hazeltine Ave

    Year built
    1946
    Construction
    TILT-UP CONCRETE
    Lot size
    0.13 lot acres
    Property size
    4,216 SF
    Zone code
    LAM2
    Property type
    Manufacturing properties
    APN
    2240-026-013
    APU
    2240026013

    Description

    This exceptional 4,216 square foot flex building in Los Angeles, CA, presents a unique owner-user opportunity. Located at 6023 Hazeltine Ave, Van Nuys, CA 91401, this single-story, 1946-built property underwent a complete renovation in 2022. The building sits on a 5,734 square foot lot and is zoned LAM2, offering versatile usage potential. Features include one dock-high door, providing convenient loading and unloading. The property boasts ample parking with 10 spaces on-site, plus additional street parking. The asking price is $2,275,000, translating to $539.61 per square foot. The building offers a blend of office and flex space, ideal for a variety of businesses. The property is available for occupancy on October 18, 2024. Its prime location in Van Nuys offers excellent access to major transportation routes and amenities. This is an exceptional opportunity for businesses seeking a modern, well-maintained industrial space in a desirable location. The property's strong structural integrity and recent renovation ensure a move-in ready condition, minimizing upfront capital expenditures. The property's size and zoning make it suitable for a range of businesses, providing flexibility and growth potential. The convenient location and ample parking further enhance its appeal. This is a rare opportunity to acquire a turnkey industrial flex building in a thriving Los Angeles market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,175,000
      ML approach
      $1,255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $820,000
      6.5%
      $760,000
      7%
      $705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,629,000
      Market price range: $611k - $1.63M
      AI Estimate
      $1,016,000
      Market price range: $226k - $1.02M

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

    Location Insight

    • Map
    • Local Demand
    City
    Van Nuys
    County
    Los Angeles
    State
    California
    Longitude
    -118.44
    Latitude
    34.18
    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
    $17,087
    $969,000
    $408,000
    $1,377,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $290,000
      6,132 SF

      6111 Hazeltine Ave

      MANUFACTURING (LIGHT) • 6,132 SF
      6111 Hazeltine Ave, Van Nuys, CA 91401-3527
      View Details
    • Value Estimation
      $310,000
      5,000 SF

      14215 Bessemer St

      MANUFACTURING (LIGHT) • 5,000 SF
      14215 Bessemer St, Van Nuys, CA 91401
      View Details
    • Value Estimation
      $600,000
      24,368 SF

      14149 Bessemer St

      MANUFACTURING (LIGHT) • 24,368 SF
      14149 Bessemer St, Van Nuys, CA 91401
      View Details
    • Value Estimation
      $3,155,000
      2,452 SF

      14222 Aetna St

      MANUFACTURING (LIGHT) • 2,452 SF
      14222 Aetna St, Van Nuys, CA 91401-3433
      View Details
    • Value Estimation
      $265,000
      1,080 SF

      14218 Oxnard St

      MANUFACTURING (LIGHT) • 1,080 SF
      14218 Oxnard St, Van Nuys, CA 91401-3608
      View Details
    • Value Estimation
      $595,000
      1,350 SF

      14316 Oxnard St

      MANUFACTURING (LIGHT) • 1,350 SF
      14316 Oxnard St, Van Nuys, CA 91401-3311
      View Details

    Similar Nearby for Sale

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      Freestanding Industrial Building For Sale

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      Hazeltine Avenue Specialty Property

      Specialty property available for sale in Los Angeles, CA.
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    Similar Nearby for Lease

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      View Details
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      Van Nuys Retail Center - 5,610 SF

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    6023 Hazeltine Ave
    Van Nuys, CA 91401-3525
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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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