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    12144 Riverside Dr Los Angeles, CA 91607
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    12144 Riverside Dr Los Angeles, CA 91607

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    Property Details for 12144 Riverside Dr

    Property type
    Land

    Description

    This exceptional 8,100 square foot land parcel presents a remarkable opportunity for the development of a 10-unit apartment building in the desirable Valley Village neighborhood of Los Angeles, California. Located at 12144 Riverside Drive, Los Angeles, CA 91607 (APN 2356-036-008), this property is zoned C2-1VL-RIO and is owned by an LLC. The site is ready for immediate development, with a building permit for a three-story apartment building ("RTI" - Ready To Issue) already in place, allowing for swift construction commencement. The project is designed for Type V construction. This prime location offers unparalleled convenience, situated just three blocks from the 101 Freeway on and off-ramps, providing easy access to both east and westbound traffic. The surrounding area boasts a vibrant retail scene, including well-known establishments such as Gelson's Grocery and Starbucks, along with various restaurants, ensuring a high demand for residential units. This ground-up development project represents a significant investment opportunity in a thriving Los Angeles community. The property's size and zoning regulations provide a solid foundation for a successful multi-family residential development. This is a rare chance to capitalize on the strong rental market in this sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.398
    Latitude
    34.1574

    Comparable in this City

    • Value Estimation
      $915,000
      5,796 SF

      5333 Bellingham Ave

      APARTMENT HOUSE (5+ UNITS) • 5,796 SF
      5333 Bellingham Ave, Valley Village, CA 91607-2650
      View Details
    • Value Estimation
      $3,305,000
      28,470 SF

      5221 Bellingham Ave

      APARTMENT HOUSE (5+ UNITS) • 28,470 SF
      5221 Bellingham Ave, Valley Village, CA 91607-5005
      View Details
    • Value Estimation
      $1,440,000
      10,178 SF

      5332 Ben Ave

      APARTMENT HOUSE (5+ UNITS) • 10,178 SF
      5332 Ben Ave, Valley Village, CA 91607-4967
      View Details
    • Value Estimation
      $1,245,000
      8,486 SF

      12142 Burbank Blvd

      APARTMENT HOUSE (5+ UNITS) • 8,486 SF
      12142 Burbank Blvd, Valley Village, CA 91607-1744
      View Details
    • Value Estimation
      $1,880,000
      16,223 SF

      12345 Burbank Blvd

      APARTMENT HOUSE (5+ UNITS) • 16,223 SF
      12345 Burbank Blvd, Valley Village, CA 91607-1662
      View Details
    • Value Estimation
      $4,455,000
      33,198 SF

      12244 Burbank Blvd

      APARTMENT HOUSE (5+ UNITS) • 33,198 SF
      12244 Burbank Blvd, Valley Village, CA 91607-5101
      View Details

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      Valley Village Retail/Office Building

      Retail/office/commercial building for sale in Valley Village.
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    Similar Nearby for Lease

    • $3 SF/Yr

      Valley Village Office Space Available

      Office building for rent in Valley Village, San Fernando Valley.
      12626 Riverside Dr, Valley Village, CA 91607
      View Details
    • Contact for pricing

      Valley Village Retail Space Available

      Retail spaces available in busy Valley Village shopping center.
      12450 Burbank Blvd, Valley Village, CA 91607
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      Office Building Near Gelson's Market

      Office building with convenient freeway access and market proximity.
      12034 Riverside Dr, Valley Village, CA 91607
      View Details
    • Contact for pricing

      Valley Village Office Space Available

      Office space for lease in Valley Village, California.
      12626 Riverside Dr, Valley Village, CA 91607
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    • $2 SF/Yr

      Valley Village Office Space Available

      Office space with private restrooms, entrance, and kitchen.
      12034 Riverside Dr, Valley Village, CA 91607
      View Details
    • Contact for pricing

      Office Space Available for Rent

      Office space available, offering 1,700 square feet.
      12520 Magnolia Blvd, Los Angeles, CA 91607
      View Details
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    Los Angeles, CA 91607
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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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