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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    247 Florence Ave Los Angeles, CA 90003-1873

    • Investment properties
    • 6,410 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $1,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7932284
    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

    • Lupita's Beauty Cuts Salon / Barber Shop

    Property Details for 247 Florence Ave

    Year built
    1919
    Construction
    TILT-UP CONCRETE
    Lot size
    0.14 lot acres
    Property size
    6,410 SF
    Zone code
    LAC2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    6012-013-049
    APU
    6012013049

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,845,000
      6.5%
      $1,700,000
      7%
      $1,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,806,000
      Market price range: $699k - $1.81M
      AI Estimate
      $1,185,000
      Market price range: $434k - $1.19M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,255,000
      Current use
      WAREHOUSE, STORAGE
      $1,790,000
      Change: +43% Conversion: Difficult
      RETAIL STORES
      $1,595,000
      Change: +27% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.278
    Latitude
    33.975
    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
    $17,270
    $568,693
    $798,361
    $1,367,054
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      5,390 SF

      250 59th Pl

      OFFICE/RESIDENTIAL (MIXED USE) • 5,390 SF
      250 59th Pl, Los Angeles, CA 90003-1110
      View Details
    • Value Estimation by Request
      2,195 SF

      8460 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,195 SF
      8460 Main St, Los Angeles, CA 90003-2904
      View Details
    • Value Estimation by Request
      3,038 SF

      8011 Avalon Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,038 SF
      8011 Avalon Blvd, Los Angeles, CA 90003-2612
      View Details
    • Value Estimation
      $1,075,000
      7,072 SF

      225 Florence Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,072 SF
      225 Florence Ave, Los Angeles, CA 90003-1806
      View Details
    • Value Estimation
      $1,055,000
      4,684 SF

      6019 Avalon Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 4,684 SF
      6019 Avalon Blvd, Los Angeles, CA 90003-1333
      View Details
    • Value Estimation
      $830,000
      2,524 SF

      154 Colden Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,524 SF
      154 Colden Ave, Los Angeles, CA 90003-4249
      View Details

    Similar Nearby for Sale

    • $2,999,000
      12,808 SF

      Mixed-Use Investment Opportunity, Los Angeles

      Mixed-use property with retail and residential units for sale.
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    • $1,200,000
      0.17 Acres

      Ready-to-Issue Affordable Housing Development

      38-unit affordable housing development opportunity in South Los Angeles.
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    • $299,000

      Mixed-Use Property with Residence

      Commercial building with a single-family residence in the rear.
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    • $1,550,000
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      Versatile Redevelopment Opportunity in Los Angeles

      Large lot with warehouse, residential unit, and redevelopment potential.
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    • $675,000
      2,160 SF

      Los Angeles Duplex: Investor Opportunity

      Two-story duplex built in 2004, ideal for investors or owner-users.
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      High-Traffic Los Angeles Corner Lot

      Mixed-use redevelopment opportunity, 878 sq ft.
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    Similar Nearby for Lease

    • $12 SF/Yr
      2,000 SF

      Los Angeles Industrial Space For Lease

      2,000 SF Manufacturing/Flex Space Available
      5917 Broadway, Los Angeles, CA 90003
      View Details
    • $0.60 SF/Yr
      14,400 SF

      Contractor’s Yard, Parking, Storage, Etc.

      Contractor’s Yard, Parking, Storage, Etc.
      5875 Towne Ave, Los Angeles, CA 90003
      View Details
    • Contact for pricing

      Industrial Property Fully Leased

      Industrial property in Los Angeles, currently 100% leased.
      5937 Avalon Blvd, Los Angeles, CA 90003
      View Details
    • $1,700 /Mo

      Spacious One Bedroom Apartment

      One bedroom apartment featuring hardwood floors and city views.
      105 W 106Th St, Los Angeles, CA 90003
      View Details
    • $7 SF/Yr
      14,400 SF

      Los Angeles Industrial Land Lease

      14,400 SF Lot, Single Tenant
      5875 Towne Ave, Los Angeles, CA 90003
      View Details
    • $1.55 SF/Yr
      12,960 SF

      Los Angeles Warehouse Space Available

      Warehouse space with dock high doors and freeway access.
      15101-15141 S Figueroa St, Los Angeles, CA 90003
      View Details
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    247 Florence Ave
    Los Angeles, CA 90003-1873
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    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
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