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    Property profile & analytics

    7851 Talbert St Playa Del Rey, CA 90293-8425

    • Apartment buildings
    • 4,937 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $470,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6535079
    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

    • Apartment buildings

    Property Details for 7851 Talbert St

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    4,937 SF
    Zone code
    LAR3
    Property type
    Apartment buildings
    APN
    4118-001-018
    APU
    4118001018

    Description

    This exceptional six-unit apartment building, located in desirable Playa Del Rey, presents a compelling value-add investment opportunity. The property, situated on a 4,849 square foot lot at 7851 W Talbert Street, Los Angeles, CA 90293, boasts 4,937 square feet of net rentable space and features a mix of unit sizes: two 2-bedroom/2-bathroom units, one 2-bedroom/1.5-bathroom unit, one 2-bedroom/1-bathroom unit, and two 1-bedroom/1-bathroom units. Currently operating at 66% occupancy, with two vacancies (one immediately available, and one at close of escrow), the property offers significant upside potential. Built in 1960, the building has been meticulously maintained, with recent improvements including a complete exterior repaint (including trim and handrails), pressure washing of the exterior and walkways, and a new roof coating with a 10-year warranty. Six single-car garages provide ample parking, and the property's zoning (LAR3) may allow for the conversion of garages into additional dwelling units (ADUs), further enhancing its investment potential. The current Net Operating Income (NOI) is $114,918, with a pro-forma NOI of $172,052, representing a 33% rental upside. The asking price is $2,500,000, resulting in a current cap rate of 4.60% and a pro-forma cap rate of 6.88%. Rents were last increased on February 1st, 2024. This property offers a rare combination of location, value, and upside potential in a highly sought-after Los Angeles neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $420,000
      Market price range: $181k - $422k

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

    Location Insight

    • Map
    • Local Demand
    City
    Playa Del Rey
    County
    Los Angeles
    State
    California
    Longitude
    -118.434
    Latitude
    33.9591
    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
    $23,937
    $1,503,235
    $420,818
    $1,924,053
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      316 Pershing Dr

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      View Details
    • Value Estimation
      $680,000
      36,128 SF

      8110 Redlands St

      APARTMENT HOUSE (5+ UNITS) • 36,128 SF
      8110 Redlands St, Playa Del Rey, CA 90293-8609
      View Details
    • Value Estimation
      $450,000
      5,633 SF

      6614 Vis Del Mar

      APARTMENT HOUSE (5+ UNITS) • 5,633 SF
      6614 Vis Del Mar, Playa Del Rey, CA 90293-7573
      View Details
    • Value Estimation
      $1,290,000
      65,671 SF

      8040 Manchester Ave

      APARTMENT HOUSE (5+ UNITS) • 65,671 SF
      8040 Manchester Ave, Playa Del Rey, CA 90293-7100
      View Details
    • Value Estimation
      $410,000
      7,684 SF

      7736 Paseo Del Rey, Unit 7

      APARTMENT HOUSE (5+ UNITS) • 7,684 SF
      7736 Paseo Del Rey, Playa Del Rey, CA 90293-8344
      View Details
    • Value Estimation
      $430,000
      5,504 SF

      8118 83rd St

      APARTMENT HOUSE (5+ UNITS) • 5,504 SF
      8118 83rd St, Playa Del Rey, CA 90293-7873
      View Details

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    7851 Talbert St
    Playa Del Rey, CA 90293-8425
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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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