Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1615 Westwood Blvd Los Angeles, CA 90024-5653

    • Retail space
    • 5,828 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $1,195,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6522695
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Helena Wirth Custom Cakes / Bakery / Specialty Food Shop
    • Regal Cake Gallery / Bakery / Specialty Food Shop
    • Beverly Hills Luxury Interiors, LLC / Interior Design / Home Decor Store
    • atelier mark vaghei (atelier V) / Interior Design / Home Decor Store
    • Premier Dry Cleaning / (Bike/Boat/Book/etc) Store

    Property Details for 1615 Westwood Blvd

    Year built
    1948
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Property size
    5,828 SF
    Zone code
    LAC4
    Property type
    Retail space
    APN
    4324-026-023
    APU
    4324026023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.44
    Latitude
    34.0525
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $32,024
    $2,277,638
    $334,940
    $2,612,578
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $915,000
      2,877 SF

      1129 Glendon Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,877 SF
      1129 Glendon Ave, Los Angeles, CA 90024-3501
      View Details
    • Value Estimation
      $2,890,000
      15,401 SF

      911 Broxton Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,401 SF
      911 Broxton Ave, Los Angeles, CA 90024-2801
      View Details
    • Value Estimation
      $5,600,000
      36,830 SF

      10920 Lindbrook Dr

      RETAIL STORES (PERSONAL SERVICES) • 36,830 SF
      10920 Lindbrook Dr, Los Angeles, CA 90024-3408
      View Details
    • Value Estimation
      $1,860,000
      9,130 SF

      10925 Kinross Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,130 SF
      10925 Kinross Ave, Los Angeles, CA 90024-3405
      View Details
    • Value Estimation
      $935,000
      3,760 SF

      1057 Gayley Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,760 SF
      1057 Gayley Ave, Los Angeles, CA 90024-3401
      View Details
    • Value Estimation
      $910,000
      5,700 SF

      1081 Broxton Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,700 SF
      1081 Broxton Ave, Los Angeles, CA 90024
      View Details

    Similar Nearby for Sale

    • $1,175,000

      Remodeled Apartment in Westwood

      Spacious apartment near Century City, Santa Monica, and UCLA.
      1657 Malcolm Ave, Los Angeles, CA 90024
      View Details
    • Contact for pricing

      Westwood Boulevard Commercial Assets For Sale

      Two commercial properties in high-demand Westwood Boulevard corridor, Los Angeles.
      1625 Westwood Blvd, Los Angeles, CA 90024
      View Details
    • $2,995,000
      5,681 SF

      Westwood Village Multifamily Property

      Four units near UCLA in Westwood Village.
      10817 Lindbrook Dr, Los Angeles, CA 90024
      View Details
    • $2,110,000

      Westwood Triplex with 1930s Charm

      Classic triplex in prime Westwood location near UCLA.
      10743-47 Ohio Ave, Los Angeles, CA 90024
      View Details
    • $2,500,000
      4,095 SF

      Folk Victorian Fourplex Near UCLA

      Fourplex with unique architectural details and income potential.
      10481 Eastborne Ave, Los Angeles, CA 90024
      View Details
    • $2,050,000
      4,250 SF

      Los Angeles Multifamily Investment Property

      Four-unit multifamily property in Los Angeles.
      10357 Ashton Ave, Los Angeles, CA 90024
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,580 SF

      High-End Salon Space Available

      Retail space suitable for a high-end hair salon.
      1061-1065 Broxton Ave, Los Angeles, CA 90024
      View Details
    • $3 SF/Yr

      Westwood Blvd Retail Space

      Retail space ideal for take-out uses with great exposure.
      1265 Westwood Blvd, Los Angeles, CA 90024
      View Details
    • Contact for pricing

      Creative Office in Westwood Village

      Freestanding creative office building near UCLA with ample parking.
      900 Hilgard Ave, Los Angeles, CA 90024
      View Details
    • Contact for pricing

      Prime Westwood Village Retail Space

      Rare leasing opportunity in the heart of Westwood Village.
      10930 Weyburn Ave, Los Angeles, CA 90024
      View Details
    • New
      Contact for pricing

      1033 Gayley Ave, Unit 104

      1033 Gayley Ave, Suite 104 Los Angeles CA 90024
      1033 Gayley Ave, Los Angeles, CA 90024
      View Details
    • New
      Contact for pricing

      1033 Gayley Ave, Unit 107

      1033 Gayley Ave, Suite 107 Los Angeles CA 90024
      1033 Gayley Ave, Los Angeles, CA 90024
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1615 Westwood Blvd
    Los Angeles, CA 90024-5653
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!