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Property profile & analytics
OFF-MARKET
Estimated value
$5,370,000
Hospitals
1617 Michigan Ave, Los Angeles, CA 90033-2401
Entity Owned
62-yr Hold
Free & Clear
Property ID
US09-7908483
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1992
Total area
13,754 SF
Lot
1.27 ac (55,137 SF)
Zoning code
LAR5
APN
5174-009-040
UPID
US09-7908483
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
Current use
Occupant on record · Public records
-
White Memorial Chemical Plant Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.37M
Owner & transaction history
White Memorial Medical Cntr INC · 62 yrs held
White Memorial Medical Cntr INC
since 1964
1 recorded transaction
Zoning & alternative use
LAR5 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.5M
+19.3%
Office building
$6.9M
+10.2%
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 Los Angeles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Los Angeles 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,265,000
Current use
AUTO REPAIR, GARAGE
$7,475,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$6,905,000
Change: +10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$5,825,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$5,645,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$5.37M
Range $4.83M – $5.91M · ±10%
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
$390 / 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
$2,251
Tax year 2024
Assessed value
$5,647,100
Assessed 2024
Previous assessed
$5,647,100
+0.0% YoY
Effective rate
0.04%
On assessed value
Assessed land
$332,389
Assessed improvement
$5,314,711
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1992
Heating
NONE
Buildings
4
Stories
1
Bathrooms
2
Total area
13,754 SF
Lot
1.27 ac (55,137 SF)
Zoning code
LAR5
APN
5174-009-040
UPID
US09-7908483
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR5 · Los Angeles, CA
Zoning LAR5 · permitted uses
LAR5 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Los Angeles. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$7.5M
OFFICE BUILDING
Est. value
$6.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.8M
RETAIL STORES
Est. value
$5.6M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1992
Heating
NONE
Stories
1
Buildings
4
Bathrooms
2
Lot
1.27 ac
Current owner
From public records · entity-resolved
White Memorial Medical Cntr INC
Entity
Free & Clear · 62 yrs held
Mailing address
PO BOX 619135, ROSEVILLE, CA 95661-9135
Ownership since
1964
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 1964
—
White Memorial Medical Cntr INC
—
Grant Deed
related
—
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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