Sign Up Successful!
You now have access to more from Realmo!
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

    1618 Las Palmas Ave Los Angeles, CA 90028-6112

    • Office buildings
    • 5,828 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Jun 21, 2022
    Value Estimations
    $1,080,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8176219
    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

    • Redwine Building / Tour Operator
    • LibertyX Bitcoin ATM / Atm
    • Parking / Restaurant

    Property Details for 1618 Las Palmas Ave

    Year built
    1932
    Construction
    TILT-UP CONCRETE
    Lot size
    0.19 lot acres
    Property size
    5,828 SF
    Zone code
    LAP
    Property type
    Office buildings
    APN
    5547-014-024
    APU
    5547014024

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,384,000
      Market price range: $1.38M - $4.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.336
    Latitude
    34.1003
    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
    $15,277
    $938,574
    $13,242
    $951,816
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $595,000
      0.17 Acres

      Los Angeles, CA 90028

      OFFICE BUILDING • 0.17 Acres
      Los Angeles, CA 90028
      View Details
    • Value Estimation
      $1,580,000
      4,758 SF

      1540 Mccadden Pl

      OFFICE BUILDING • 4,758 SF
      1540 Mccadden Pl, Los Angeles, CA 90028-7112
      View Details
    • Value Estimation
      $10,950,000
      65,106 SF

      6753 Hollywood Blvd

      PROFESSIONAL BUILDING (MULTI-STORY) • 65,106 SF
      6753 Hollywood Blvd, Los Angeles, CA 90028-4623
      View Details
    • Value Estimation
      $5,750,000
      33,311 SF

      5951 Hollywood Blvd

      PROFESSIONAL BUILDING • 33,311 SF
      5951 Hollywood Blvd, Los Angeles, CA 90028-5409
      View Details
    • Value Estimation by Request
      154,293 SF

      1355 Vine St

      OFFICE BUILDING • 154,293 SF
      1355 Vine St, Los Angeles, CA 90028-8141
      View Details
    • Value Estimation by Request
      147,098 SF

      1375 Vine St

      OFFICE BUILDING • 147,098 SF
      1375 Vine St, Los Angeles, CA 90028-8141
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45,521 SF

      Prime Land and Building Portfolio

      Portfolio of land and buildings on Sunset and Highland.
      6751 W Sunset Blvd, Los Angeles, CA 90028
      View Details
    • Contact for pricing
      20,000 SF

      Hollywood Creative Office Compound

      20,000 SF, Gated Compound, Redevelopment Potential
      1415 Cahuenga Blvd, Los Angeles, CA 90028
      View Details
    • $639,000
      1,140 SF

      Hollywood Creative Office For Sale

      Creative office space in iconic Hollywood location near Pantages.
      6253 Hollywood Blvd, Los Angeles, CA 90028
      View Details
    • Contact for pricing
      3,250 SF

      Creative Office Space with Parking

      Creative office space featuring parking, open layout, and unique design.
      1633 Cosmo St, Los Angeles, CA 90028
      View Details
    • $639,000
      1,140 SF

      Hollywood Office Space: Iconic Location

      Prime Hollywood office, Art Deco flair, abundant parking.
      6253 Hollywood Blvd, Hollywood, CA 90028
      View Details
    • $3,850,000

      Los Angeles Specialty Property Available

      Specialty property for sale in Los Angeles, California.
      1734 Taft Ave, Los Angeles, CA 90028
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Sunset Boulevard Office/Restaurant Space

      Unique space with architectural charm, kitchen, and office/bar area.
      6525 Sunset Blvd, Los Angeles, CA 90028
      View Details
    • $59 SF/Yr
      91,908 SF

      Highland Ave Executive Suites

      Prestigious LA Office Space Available
      1800 Highland Ave, Los Angeles, CA 90028
      View Details
    • $42 SF/Yr
      8,375 SF

      Historic Hollywood Retail Space

      Iconic building, 8,375 SF, prime location.
      6560 Hollywood Blvd, Los Angeles, CA 90028
      View Details
    • Contact for pricing
      170,000 SF

      Hollywood Blvd Executive Suites

      Prestigious LA Office Space Available
      7080 Hollywood Blvd, Los Angeles, CA 90028
      View Details
    • Contact for pricing
      2,650 SF

      Hollywood Executive Suites

      Prestigious Hollywood office space, multiple sizes available.
      1800 Vine St, Los Angeles, CA 90028
      View Details
    • Contact for pricing

      Office Sublease in Hollywood

      Office space available for sublease in Hollywood, Los Angeles.
      Los Angeles, CA 90028
      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.
    1618 Las Palmas Ave
    Los Angeles, CA 90028-6112
    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.