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Property profile & analytics
OFF-MARKET
Estimated value
$3,715,000
Parking lots & garages
12971 Ventura Blvd Studio City, CA 91604
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6197544
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1954
Total area
6,650 SF
Lot
0.16 ac (7,135 SF)
Zoning code
LAR3
APN
2375-022-049
UPID
US09-6197544
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.72M
Owner & transaction history
12969 Ventura LLC · 4 yrs held
12969 Ventura LLC
since 2022
Last sale
$4.2M
6 recorded transactions
Zoning & alternative use
LAR3 · Studio City, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Studio City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Studio City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,325,000
ML approach
$3,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$5,645,000
Current use
RETAIL STORES
$5,235,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$4,715,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.72M
Range $3.34M – $4.09M · ±10% · vs last sale $4.15M (Jun 30 2022)
Last sale anchor
$4.15M
Jun 30 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$559 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$17,991
Tax year 2024
Assessed value
$1,472,166
Assessed 2024
Previous assessed
$1,472,166
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$1,456,560
Assessed improvement
$15,606
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1954
Heating
NONE
Total area
6,650 SF
Lot
0.16 ac (7,135 SF)
Zoning code
LAR3
APN
2375-022-049
UPID
US09-6197544
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR3 · Studio City, CA
Zoning LAR3 · permitted uses
LAR3 · Studio City, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Studio City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$5.6M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING
Est. value
$4.7M
PARKING LOT Current
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Heating
NONE
Lot
0.16 ac
Current owner
From public records · entity-resolved
12969 Ventura LLC
Entity
Mailing address
513 N PALM DR, BEVERLY HILLS, CA 90210-3412
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$4,150,000
12969 Ventura LLC
Richard Hendrick
Grant Deed
$200,000 · Farmers & Merchants Bank Of Long Be
Oct 19, 2021
—
Richard W Bakalyan
—
Deed
related
$35,000,000 · Schorr Law
Sep 30, 2021
—
Richard W Bakalyan
—
Deed
related
$250,000 · Schorr Law
Jan 28, 2020
—
Hendrick,r S Living Trust
La Serre Associates LLC
Quit Claim Deed
—
Feb 21, 2019
—
La Serre Associates LLC
—
Deed
related
$150,000 · Us Bank NA
—
—
La Serre Associates
—
Deed Of Trust
related
$675,000 · Pacific Crest Inv & Loan
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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