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Property profile & analytics
OFF-MARKET
Estimated value
$12,005,000
Parking lots & garages
1661 Western Ave Los Angeles, CA 90027-4820
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7279849
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
2015
Total area
9,000 SF
Lot
0.22 ac (9,475 SF)
Zoning code
LAR5
APN
5544-025-038
UPID
US09-7279849
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
$9.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.16M
Blend (final)
Blend
$12.01M
Owner & transaction history
Residency At The Entrepreneur LP · 4 yrs held
Residency At The Entrepreneur LP
since 2022
Last sale
$12.7M
7 recorded transactions
Zoning & alternative use
LAR5 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.4M
+33.0%
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
$14,780,000
ML approach
$9,770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$7,405,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$12.01M
Range $10.80M – $13.21M · ±10% · vs last sale $12.65M (Apr 27 2022)
Last sale anchor
$12.65M
Apr 27 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
$1,334 / 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
$187
Tax year 2024
Assessed value
$6,400,540
Assessed 2024
Previous assessed
$6,400,540
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$6,400,540
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
2015
Heating
NONE
Total area
9,000 SF
Lot
0.22 ac (9,475 SF)
Zoning code
LAR5
APN
5544-025-038
UPID
US09-7279849
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
RESTAURANT
Est. value
$7.4M
RESTAURANT
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
2015
Heating
NONE
Lot
0.22 ac
Current owner
From public records · entity-resolved
Residency At The Entrepreneur LP
Entity
Mailing address
5500 HOLLYWOOD BLVD4THFL, LOS ANGELES, CA 90028-6862
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2022
$12,652,000
Residency At The Entrepreneur LP
Abs Hollywood LLC
Grant Deed
$72,000,000 · Us Bank NA
Feb 28, 2019
—
Abs Hollywood LLC
Abs Mayer Bricker LLC
Correction Deed
—
Dec 22, 2017
—
Abs Hollywood LLC
—
Grant Deed
related
$12,900,000 · Cpif California LLC
Jul 18, 2017
—
Abs Hollywood LLC
—
Grant Deed
related
$1,800,000 · Kilkea INC
Jun 30, 2015
—
Abs Hollywood LLC
Historic Hollywood Holdings Ll
Quit Claim Deed
$2,400,000 · Michael & Leah Weisberg
Nov 9, 2012
$2,700,027
Historic Hollywood Holdings LLC
Ullman Investments Ltd
Grant Deed
$1,500,000 · Preferred Bank
Sep 29, 2000
—
Invs Ullman
Grant,parking
Grant Deed
related
—
Mar 2, 1989
—
Robert Frandzel
Frandzel Robert
Quit Claim Deed
related
—
Mar 2, 1989
$990,000
Grant Parking
Frandzel Robert
Trustees Deed
$650,000 · Bank Of Encino
—
—
Abs Hollywood LLC
—
Deed Of Trust
related
$5,000,000 · Post Advisory Group INC
—
—
Historic Hollywood Holdings Ll
—
Loan Modification
related
$254,435 · Preferred Bk
—
—
Abs Hollywood LLC
—
Deed Of Trust
related
$1,600,000 · Kilkea INC
—
—
Abs Hollywood LLC
—
Deed Of Trust
related
$540,000 · Ursitti Partners LLC
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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