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    New Fourplex in Mid-City Title is generated by Realmo AI

    1921 Carmona Ave, Los Angeles, CA 90016

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    New construction fourplex in Mid-City, Los Angeles, fully leased.

    Type:Multifamily
    Property size:
    6,222 SF
    Price / SF:
    $546/SF
    Added:
    Sep 5, 2024
    Days on Market:
    638
    Last Refresh:
    May 13 at 8:22 pm

    Property Features for 1921 Carmona Ave

    General Information

    Standard status
    Active
    Size
    6,222 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    2023

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    Listing Contact
    DANIEL LALEZARI

    Listing agent DANIEL LALEZARI License #CA

    Listing office KW Hollywood Hills

    Listing date Sep 5, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of KW Hollywood Hills

    HighLights

    • Fully leased fourplex with a 5.47% cap rate, providing immediate income.
    • Located in a rapidly gentrifying, non‑rent‑controlled area of Mid‑City Los Angeles, close to major attractions and amenities.
    • New construction (2023) with designer finishes, open floorplans, and abundant natural light.
    • Opportunity Zone location offering potential tax benefits (buyer to verify).
    • Includes 8 parking spaces, new Samsung washer/dryers, and stainless steel kitchen appliances.
    • Separate utility meters for each unit, maximizing cash flow and minimizing expenses.

    Overview

    This is a new construction fourplex located in the Mid-City area of Los Angeles. The property is fully leased and offers a cap rate of 5.47%. The building is not subject to rent control and is situated in an opportunity zone. The fourplex features designer finishes and open floorplans with center islands and waterfall edges in the kitchens. The units have natural light and windows. Each unit includes central air conditioning and heating, as well as a Samsung washer and dryer. Stainless steel kitchen appliances are also included. The property has separate meters for all utilities. There are 8 parking spaces available, and a motorized gate. The front area offers additional space for parking or a patio area. Balconies overlook city views. The property is located close to Miracle Mile, Beverly Hills, and Downtown, and is also near Downtown Culver City, the Culver City Arts District, Culver City steps, Ivy Station, and the Helms Bakery District. The surrounding neighborhood includes shopping centers, restaurants, and bars, such as Father's Office, Pasta Sisters, and Blue Bottle Coffee. The Cumulus District and Whole Foods are also nearby. The property size is 6222 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.36157
    Latitude
    34.03947

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    FAQs

    What type of property is this?
    Quadplex - New construction fourplex in Mid-City, Los Angeles, fully leased.
    Where is this quadplex located?
    The property is located at 1921 Carmona Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $3,399,999.
    What are key features of this property?
    This property features: Fully leased fourplex with a **5.47% cap rate**, providing immediate income.; Located in a rapidly gentrifying, non‑rent‑controlled area of Mid‑City Los Angeles, close to major attractions and amenities.; New construction (2023) with **designer finishes, open floorplans, and abundant natural light**.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    DANIEL LALEZARI
    Real Estate License ID: CA
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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.

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