Valley Village Multi-Tenant Office
For Sale
Contact for pricing
4721 Laurel Canyon Blvd, Los Angeles, CA 91607
Multi-tenant office building in Valley Village near Studio City.
Property Size4,767 SF
Price / SF$576.88
Days on Market894
Property Features for 4721 Laurel Canyon Blvd
General Information
Standard status
Active
Size
4,767 SF
Class
C
Property subtype
Office
Zoning
LAC2
Investment Type
Owner/User
Building Details
Year Built
1975
Year Renovated
2006
Buildings
2
Units
9
Tenancy
Multi
Listing Agency:
illi Commercial Real Estate
Listed By:
Greg Offsay · License #CA 01837719
Source:
Crexi
Added: Mar 22, 2024
Changed: Aug 8
Last Checked: Aug 29 at 11:36PM
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 illi Commercial Real Estate
Investment Insights
Based on property information with market context.
Located one block north of the 101 Freeway in Valley Village, neighboring Studio City, this multi-tenant professional office property offers 4,767 square feet of space. The building features bright offices with large windows, accessible via an open-air walkway with common restrooms. One unit includes a private restroom with a shower. Structural steel framing was added in 2006 to accommodate additional covered parking. The property is adjacent to 4717 Laurel Canyon and shares a central driveway and gated entry. With over 30 feet of building frontage on Laurel Canyon Blvd., the property offers a signage opportunity. All tenancy is month to month, creating a flexible opportunity for both owner-users and investors. The owner has received preliminary approvals for change of use to medical.
Key Highlights
- Flexible opportunity for owner‑users or investors due to month‑to‑month tenancies.
- Preliminary approvals received for change of use to medical.
- Prime location one block north of the 101 Freeway in Valley Village, near Studio City.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$113,151
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,263,020
$2.3M
Cap Rate 7%
$1,616,443
$1.6M
Cap Rate 9%
$1,257,233
$1.3M
Market Conditions
NOI Build-Up for 4,767 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$185.3K $38.88/SF
− Vacancy
−$34.5K −$7.23/SF
EGI
$150.9K $31.65/SF
− OpEx
−$37.7K −$7.91/SF
NOI
$113.2K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,263,020
Cap Rate 7%
$1,616,443
Cap Rate 9%
$1,257,233
Alternative Uses
Best Use
Office B
$1.62M
$1.41M – $1.89M
NOI $113,151 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$96.58M
$84.50M – $112.67M
NOI $6,760,359 @ 7.0% cap · market cap 245.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 91607, CA
30,502
Population
14,597
Households
2.1
Avg Household Size
38
Median Age
52%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
12,201
Density / Sq Mi
$84,925
Median Household Income
$50,970
Median Earnings
$1,998
Median Rent
$1,019,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building in Valley Village near Studio City.
Where is this office building located?
The property is located at 4721 Laurel Canyon Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Flexible opportunity for owner‑users or investors due to month‑to‑month tenancies.; Preliminary approvals received for change of use to medical.; Prime location one block north of the 101 Freeway in Valley Village, near Studio City.
