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

    8981 Sunset Blvd West Hollywood, CA 90069-1842

    • Office buildings
    • 22,877 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Dec 06, 2024
    $620,000
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8671393
    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

    • Office buildings

    Property Details for 8981 Sunset Blvd

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    0.16 lot acres
    Property size
    22,877 SF
    Zone code
    LAR1
    Property type
    Office buildings
    APN
    5560-025-021
    APU
    5560025021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $740,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $823,000
      Market price range: $824k - $3.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    West Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.388
    Latitude
    34.0909
    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
    $50,784
    $1,198,845
    $2,413,066
    $3,611,911
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $350,000
      2,918 SF

      642 Doheny Dr

      OFFICE BUILDING • 2,918 SF
      642 Doheny Dr, West Hollywood, CA 90069
      View Details
    • Value Estimation
      $880,000
      24,547 SF

      9100 Sunset Blvd

      OFFICE BUILDING • 24,547 SF
      9100 Sunset Blvd, West Hollywood, CA 90069-3110
      View Details
    • Value Estimation
      $460,000
      5,248 SF

      9119 Sunset Blvd

      OFFICE BUILDING • 5,248 SF
      9119 Sunset Blvd, West Hollywood, CA 90069-3106
      View Details
    • Value Estimation
      $430,000
      66,760 SF

      8560 Sunset Blvd, Unit 805

      OFFICE BUILDING (MULTI-STORY) • 66,760 SF
      8560 Sunset Blvd, West Hollywood, CA 90069-2311
      View Details
    • Value Estimation
      $340,000
      1,756 SF

      8684 Melrose Ave

      OFFICE BUILDING • 1,756 SF
      8684 Melrose Ave, West Hollywood, CA 90069-5023
      View Details
    • Value Estimation
      $370,000
      4,234 SF

      8344 Melrose Ave

      OFFICE BUILDING • 4,234 SF
      8344 Melrose Ave, Los Angeles, CA 90069-5496
      View Details

    Similar Nearby for Sale

    • $20,000,000
      18,807 SF

      West Hollywood Redevelopment Opportunity

      Prime West Hollywood redevelopment site with high visibility and traffic.
      980 Norh Ln Cienega Blvd, West Hollywood, CA 90069
      View Details
    • $2,650,000

      West Hollywood Multifamily Investment Opportunity

      Rare 8-unit multifamily building in West Hollywood's Norma Triangle.
      948 Palm Ave, West Hollywood, CA 90069
      View Details
    • $3,450,000

      Case Study Inspired Residence

      Two-bedroom residence in West Hollywood with modern design.
      702 N Doheny Dr, West Hollywood, CA 90069
      View Details
    • $2,790,000

      West Hollywood NNN Property

      West Hollywood NNN property available for sale.
      812 N Sweetzer Ave, West Hollywood, CA 90069
      View Details
    • $1,395,000

      West Hollywood Showplace with Terrace

      Designer-crafted West Hollywood residence with oversized terrace and premium finishes.
      1210 N Kings Rd, West Hollywood, CA 90069
      View Details
    • $5,250,000

      West Hollywood Multifamily Value-Add Opportunity

      16-unit multifamily property in West Hollywood with value-add potential.
      8730 Holloway Dr, West Hollywood, CA 90069
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      139,500 SF

      West Hollywood Executive Office Suites

      Prestigious West Hollywood Office Space Available
      West Hollywood, CA 90069
      View Details
    • Contact for pricing
      24,298 SF

      Melrose Ave Executive Office Space

      Prime Los Angeles Office Suites Available
      8500 Melrose Ave, West Hollywood, CA 90069
      View Details
    • $6 SF/Yr
      2,885 SF

      Melrose Avenue Retail/Office Space

      Retail showroom or office space available for lease.
      8371-8373 Melrose Ave, Los Angeles, CA 90069
      View Details
    • $3 SF/Yr
      1,115 SF

      Office Space For Lease

      Office space available for lease in Los Angeles.
      3377 S Robertson Blvd, Los Angeles, CA 90069
      View Details
    • Contact for pricing
      8,364 SF

      Plaza La Cienega: Retail Spaces Available

      West Hollywood Retail Center - 4 Units Available
      1106 Ln Cienega Blvd, West Hollywood, CA 90069
      View Details
    • Contact for pricing
      1,300 SF

      Sunset Blvd Executive Office Space

      Prime West LA Office Suite Available
      8912 Sunset Blvd, West Hollywood, CA 90069
      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.
    8981 Sunset Blvd
    West Hollywood, CA 90069-1842
    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.