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    Property profile & analytics

    1350 9Th St Los Angeles, CA 90732

    • Apartment buildings
    • 12,070 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1350 9Th St

    Year built
    1973
    Property size
    12,070 SF
    Property type
    Apartment buildings

    Description

    This exceptional 15-unit apartment building presents a compelling value-add opportunity in the desirable Vista Del Oro neighborhood of San Pedro, Los Angeles, CA. Located at 1350 W 9th St, this property boasts 12,070 square feet of rentable space, spread across a two-story building constructed in 1973. The unit mix includes one three-bedroom/two-bathroom unit, eight two-bedroom/one-bathroom units, and six one-bedroom/one-bathroom units, with select units offering balconies. A completed soft-story retrofit enhances the building's structural integrity. The property sits on an 11,502 square foot lot, zoned LARD 1.5, and includes ample subterranean parking. The current owner retains full rights to the on-site laundry facilities. With a current NOI of $178,550 and a pro-forma NOI of $312,483, this property offers a significant potential for increased profitability. The asking price is $3,975,000, representing a current cap rate of 4.49% and a pro-forma cap rate of 7.86%. This prime investment opportunity benefits from its proximity to major development projects, including the Waterfront Redevelopment, San Pedro Courthouse Redevelopment, Rancho San Pedro public housing project, and Alta Sea Science redevelopment project, promising continued appreciation in the area. The property's strong unit mix and substantial rental upside potential make it an attractive investment for discerning buyers. APN: 7459-019-024.

    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
    -118.307
    Latitude
    33.7364

    Comparable in this City

    • Value Estimation
      $1,145,000
      169,947 SF

      28000 Western Ave

      APARTMENT HOUSE (5+ UNITS) • 169,947 SF
      28000 Western Ave, San Pedro, CA 90732-1202
      View Details
    • Value Estimation
      $775,000
      170,000 SF

      1286 Capitol Dr

      APARTMENT HOUSE (5+ UNITS) • 170,000 SF
      1286 Capitol Dr, San Pedro, CA 90732-5157
      View Details
    • Value Estimation
      $675,000
      39,927 SF

      1516 1st St

      APARTMENT HOUSE (5+ UNITS) • 39,927 SF
      1516 1st St, San Pedro, CA 90732-3124
      View Details
    • Value Estimation
      $415,000
      6,695 SF

      1443 7th St

      APARTMENT HOUSE (5+ UNITS) • 6,695 SF
      1443 7th St, San Pedro, CA 90732-3521
      View Details
    • Value Estimation
      $355,000
      4,136 SF

      1064 Summerland Ave

      APARTMENT HOUSE (5+ UNITS) • 4,136 SF
      1064 Summerland Ave, San Pedro, CA 90732-2638
      View Details
    • Value Estimation
      $4,230,000
      11,896 SF

      2016 Paseo Del Mar

      APARTMENT HOUSE (5+ UNITS) • 11,896 SF
      2016 Paseo Del Mar, San Pedro, CA 90732-4725
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
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    Los Angeles, CA 90732
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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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