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Property profile & analytics
OFF-MARKET
Estimated value
$2,065,000
Retail space
2808 8th St Los Angeles, CA 90005-1235
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7328313
Property summary
AI-generated overview
This exceptional 12,632 square foot property at 2808 W 8th St, Los Angeles, CA 90005, presents a unique redevelopment opportunity in the heart of Koreatown. Currently zoned LAR4-2, this mixed-use site offers immense potential for various projects. The property includes a 5,000 square foot net rentable building, currently operating as a convenience store/grocery store/warehouse at 100% occupancy, generating a current NOI of $60,000 (projected to increase to $7,800 per month starting January 2025). The existing single-story structure, built in 1944, sits on a 12,632 square foot lot (APN: 5077-022-032, 5077-022-033) and is offered at $3,000,000 ($237.49/sq ft), representing a 2.00% cap rate. Previous entitlements included a 42-unit multifamily mixed-use development. The property's versatility allows for diverse uses, including industrial, warehouse, venue, or residential development, making it an ideal owner/user investment. The current lease expires in December 2025. This is a rare chance to acquire a significant land parcel in a highly desirable and rapidly growing area. The property is delivered vacant and clear of encumbrances.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1944
Construction
TILT-UP CONCRETE
Total area
3,500 SF
Lot
0.14 ac (6,273 SF)
Zoning code
LAR4
APN
5077-022-032
UPID
US09-7328313
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
-
KPOP NATION Media Distribution (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.24M
Blend (final)
Blend
$2.07M
Owner & transaction history
4433 South Alameda LLC · 4 yrs held
4433 South Alameda LLC
since 2022
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
LAR4 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+32.4%
Office building
$1.8M
+22.2%
Medical building
$1.6M
+11.0%
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
$2,065,000
ML approach
$1,995,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,435,000
Current use
AUTO REPAIR, GARAGE
$1,905,000
Change: +32% · Conversion: Difficult
OFFICE BUILDING
$1,755,000
Change: +22% · Conversion: Easy
MEDICAL BUILDING
$1,595,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,480,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$2.07M
Range $1.86M – $2.27M · ±10% · vs last sale $2.60M (Apr 21 2022)
Last sale anchor
$2.60M
Apr 21 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
$590 / 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
$19,142
Tax year 2024
Assessed value
$1,541,872
Assessed 2024
Previous assessed
$1,541,872
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,144,440
Assessed improvement
$397,432
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1944
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Bathrooms
2
Total area
3,500 SF
Lot
0.14 ac (6,273 SF)
Zoning code
LAR4
APN
5077-022-032
UPID
US09-7328313
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR4 · Los Angeles, CAZoning LAR4 · permitted uses
LAR4 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1944
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Bathrooms
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
4433 South Alameda LLC
Entity
Mailing address
2275 BRUNA PL, LOS ANGELES, CA 90027-1001
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2022
$2,600,000
4433 South Alameda LLC
2808 W 8th St LLC
Grant Deed
—
Jan 24, 2019
—
2808 W 8th St LLC
Delsk Group LLC
Quit Claim Deed
—
Jul 2, 2018
—
Delsk Group LLC
—
Deed
related
$1,700,000 · The Evergreen Advantage LLC
Aug 23, 2017
$3,500,000
Delsk Group LLC
Chun,christopher W
Grant Deed
—
Mar 9, 2017
—
Christopher W Chun
—
Deed
related
$420,000 · Seon Y Park
Dec 12, 2003
$680,000
Christopher W Chun
Ro,chin D
Grant Deed
$600,000 · Hanmi Bank
Jul 15, 1996
$340,000
Kim,haeng J
Us Small Business Admn
Trustees Deed
$280,000 · Wilshire State Bank
Jul 15, 1996
—
Haeng J Kim
Kim,y
Quit Claim Deed
related
—
Jan 26, 1996
$277,872
Us Small Business Admn
Kim,kwang E & Susie S
Trustees Deed
—
Apr 25, 1990
$650,000
Kwang E Kim
Kim
Grant Deed
related
$608,000 · Bk Anaheim
—
—
Christopher W Chun
—
Deed Of Trust
related
$400,000 · Pontis Capital LLC Pontis Capital LLC
—
—
Christopher W Chun
—
Deed Of Trust
related
$420,000 · Seon Y Park
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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