Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    241 Park View St Los Angeles, CA 90026

    • Commercial real estate
    • 2,592 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8642596
    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

    • Commercial real estate

    Property Details for 241 Park View St

    Year built
    1911
    Property size
    2,592 SF
    Property type
    Commercial real estate
    APN
    5157-007-023

    Description

    This fully vacant triplex at 241 N Park View St, Los Angeles, CA 90026, presents a unique value-add investment opportunity. The property, built in 1911, comprises two structures totaling 2,592 rentable square feet on a 7,442 square foot lot zoned LARD1.5. The unit mix includes one two-bedroom unit and two one-bedroom units, offering five parking spaces. Currently vacant, this allows for immediate repositioning and flexibility in renovations and tenant selection to maximize market rent potential. Preliminary plans for a seven-unit market-rate development have been submitted to LADBS. Further development potential exists under ED1 legislation, potentially allowing for 35-40 units of 100% affordable housing with an expedited approval process. The property's current NOI is $60,699, with a 5.08% cap rate. Available reports include surveys and soils reports. The asking price is $1,195,000, representing $461.03 per square foot and $398,333.33 per unit. The land value is $160 per square foot. This property is an excellent investment for those seeking redevelopment potential in a desirable Los Angeles location.

    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
    -118.27232155722
    Latitude
    34.070836257756

    Comparable in this City

    • $3,400,000
      6,025 SF

      Luxury 5-Unit LA Apartment Building

      Prime LA location, high-yield investment.
      216 Coronado St, Los Angeles, CA 90026
      View Details
    • $2,700,000
      5,666 SF

      Mixed-Use Building in Los Angeles

      Mixed-use building with 7 units in a transforming area.
      2240 W Temple St, Los Angeles, CA 90026
      View Details
    • $2,295,000

      Multifamily Property Near Echo Park

      Seven-unit multifamily property near Echo Park and Silver Lake.
      608 Rampart Blvd, Los Angeles, CA 90026
      View Details
    • $1,550,000
      5,550 SF

      Boyle Heights Multifamily Investment Opportunity

      Seven-unit multifamily property in desirable Boyle Heights neighborhood of Los Angeles.
      3555 Siskiyou St, Los Angeles, CA 90026
      View Details
    • $1,795,000
      Pending

      Los Angeles Multifamily Investment Opportunity

      Character-rich 10-unit multifamily property in the heart of Los Angeles.
      230 N Reno St, Los Angeles, CA 90026
      View Details
    • $5,400,000
      6,809 SF

      Renovated Multifamily Assets in Echo Park

      Two renovated multifamily properties totaling 20 units in Echo Park.
      Everett St, Los Angeles, CA 90026
      View Details

    Similar Nearby for Sale

    • $3,400,000
      6,025 SF

      Luxury 5-Unit LA Apartment Building

      Prime LA location, high-yield investment.
      216 Coronado St, Los Angeles, CA 90026
      View Details
    • $2,700,000
      5,666 SF

      Mixed-Use Building in Los Angeles

      Mixed-use building with 7 units in a transforming area.
      2240 W Temple St, Los Angeles, CA 90026
      View Details
    • $2,295,000

      Multifamily Property Near Echo Park

      Seven-unit multifamily property near Echo Park and Silver Lake.
      608 Rampart Blvd, Los Angeles, CA 90026
      View Details
    • $1,550,000
      5,550 SF

      Boyle Heights Multifamily Investment Opportunity

      Seven-unit multifamily property in desirable Boyle Heights neighborhood of Los Angeles.
      3555 Siskiyou St, Los Angeles, CA 90026
      View Details
    • $1,795,000
      Pending

      Los Angeles Multifamily Investment Opportunity

      Character-rich 10-unit multifamily property in the heart of Los Angeles.
      230 N Reno St, Los Angeles, CA 90026
      View Details
    • $5,400,000
      6,809 SF

      Renovated Multifamily Assets in Echo Park

      Two renovated multifamily properties totaling 20 units in Echo Park.
      Everett St, Los Angeles, CA 90026
      View Details

    Similar Nearby for Lease

    • $2,850 /Mo
      650 SF

      Angelino Heights Carriage House Retreat

      Charming one-bedroom carriage house in vibrant Echo Park/Silver Lake area.
      1008 Douglas St, Los Angeles, CA 90026
      View Details
    • Contact for pricing
      6,940 SF

      Echo Park Creative Office Compound

      Prime Echo Park location, 6,940 sqft, on-site parking.
      1201 Alvarado St, Los Angeles, CA 90026
      View Details
    • Contact for pricing
      31,600 SF

      Echo Park Village Retail Space

      Prime Echo Park retail/restaurant opportunity.
      343 Glendale Blvd, Los Angeles, CA 90026
      View Details
    • $1.25 SF/Yr
      15,756 SF

      Free Standing Warehouse Building

      15,756 SF warehouse with dock and ground level doors.
      1122 S Alvarado St, Los Angeles, CA 90026
      View Details
    • Contact for pricing
      25,827 SF

      Echo Park Land Available

      25,827 SF land available in Echo Park.
      600-606 N Alvarado St, Los Angeles, CA 90026
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    241 Park View St
    Los Angeles, CA 90026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.