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Property profile & analytics
OFF-MARKET
Estimated value
$2,470,000
Parking lots & garages
224 Ave 50 Los Angeles, CA 90042-3906
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-6829944
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1968
Construction
WOOD
Total area
3,927 SF
Lot
0.09 ac (3,925 SF)
Zoning code
LAR1
APN
5467-030-009
UPID
US09-6829944
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
$2.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.39M
Blend (final)
Blend
$2.47M
Owner & transaction history
Lakefront Ave 50 LLC
Lakefront Ave 50 LLC
since 2025
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
LAR1 · Los Angeles, 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 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
$1,885,000
ML approach
$2,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$2,430,000
Current use
AUTO REPAIR, GARAGE
$2,135,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$1,970,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.47M
Range $2.22M – $2.72M · ±10% · vs last sale $2.53M (Jun 10 2025)
Last sale anchor
$2.53M
Jun 10 2025
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
$629 / 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
$2,938
Tax year 2024
Assessed value
$228,888
Assessed 2024
Previous assessed
$228,888
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$228,888
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
1968
Construction
WOOD
Heating
NONE
Units
1
Total area
3,927 SF
Lot
0.09 ac (3,925 SF)
Zoning code
LAR1
APN
5467-030-009
UPID
US09-6829944
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR1 · Los Angeles, CA
Zoning LAR1 · permitted uses
LAR1 · 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
PARKING LOT Current
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.0M
PARKING LOT Current
AUTO REPAIR, GARAGE
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
1968
Construction
WOOD
Heating
NONE
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Lakefront Ave 50 LLC
Entity
Mailing address
1769 GLENDALE BLVD, LOS ANGELES, CA 90026-1761
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2025
$2,525,000
Lakefront Ave 50 LLC
Lo Avenue 50 LLC
Grant Deed
$2,053,000 · Lone Oak Fund LLC
Apr 24, 2025
—
Lo Avenue 50 LLC
Baller Mineral LLC
Deed
related
—
Jan 26, 2023
—
Baller Mineral LLC
—
Deed
related
$2,350,000 · Lone Oak Fund LLC
Jan 21, 2022
$2,350,000
Baller Mineral LLC
Nae K Kim
Grant Deed
$1,450,000 · Private Mortgage Fund LLC
Jan 21, 2022
—
Nae K Kim
Nae K Kim
Intrafamily Transfer
related
—
Sep 16, 2003
—
Nae K Kim
Pak,chester S & Young S
Grant Deed
$532,000 · Bank Of East Asia
Jun 1, 1989
$475,000
Chester S Pak
Unknown
Grant Deed
—
Nov 2, 1966
—
—
—
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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