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

    2974 8th St Los Angeles, CA 90005-1524

    • Parking lots & garages
    • 6,460 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Apr 06, 2022
    $10,710,107
    Value Estimations
    $10,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7698248
    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

    • Parking lots & garages

    Property Details for 2974 8th St

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.15 lot acres
    Property size
    6,460 SF
    Zone code
    LAR4
    Property type
    Parking lots & garages
    APN
    5077-023-028
    APU
    5077023028

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,515,000
      ML approach
      $10,075,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,291,000
      Market price range: $1.35M - $7.29M

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.291
    Latitude
    34.0574
    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
    $37,867
    $3,121,200
    $0.00
    $3,121,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      7,500 SF

      716 Mullen Ave

      PARKING LOT • 7,500 SF
      716 Mullen Ave, Los Angeles, CA 90005
      View Details
    • Value Estimation by Request
      6,750 SF

      Los Angeles, CA 90005

      PARKING LOT • 6,750 SF
      Los Angeles, CA 90005
      View Details
    • Value Estimation
      $20,800,000
      18,000 SF

      606 Oxford Ave

      PARKING LOT • 18,000 SF
      606 Oxford Ave, Los Angeles, CA 90005
      View Details
    • Value Estimation
      $785,000
      14,000 SF

      687 Harvard Blvd

      PARKING LOT • 14,000 SF
      687 Harvard Blvd, Los Angeles, CA 90005-2513
      View Details
    • Value Estimation
      $15,000,000
      7,125 SF

      612 Norton Ave

      PARKING LOT • 7,125 SF
      612 Norton Ave, Los Angeles, CA 90005
      View Details
    • Value Estimation by Request
      3,400 SF

      817 Serrano Ave

      PARKING LOT • 3,400 SF
      817 Serrano Ave, Los Angeles, CA 90005-2741
      View Details

    Similar Nearby for Sale

    • $3,975,000
      22,620 SF

      Los Angeles Commercial Property For Sale

      Commercial property in Los Angeles, CA, totaling 22,620 square feet.
      Leeward Ave, Los Angeles, CA 90005
      View Details
    • $2,700,000

      Los Angeles Commercial Property For Sale

      Commercial property available for sale in Los Angeles, CA 90005.
      4327 Francis Ave, Los Angeles, CA 90005
      View Details
    • Contact for pricing
      7,950 SF

      Koreatown Showroom-Warehouse on Large Lot

      Commercial property with showroom-warehouse in high-traffic Koreatown.
      963-965 S Western Ave, Los Angeles, CA 90005
      View Details
    • Contact for pricing
      6,430 SF

      Two-Story Retail and Office Building

      Two-story building with retail and office units for sale.
      4376 S Western Ave, Los Angeles, CA 90005
      View Details
    • $2,400,000

      Koreatown 12-Unit Apartment Building

      Value-add 12-unit apartment building in Koreatown with upside potential.
      845 S Kenmore Ave, Los Angeles, CA 90005
      View Details
    • Contact for pricing
      6,121 SF

      Los Angeles Office Space Available

      Office space totaling approximately 4,992 square feet on 9,619 square foot lot.
      658 S Bronson Ave, Los Angeles, CA 90005
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space on Western Avenue

      Retail space suitable for pet services, beauty, health, and more.
      1710-1732 S Western Ave, Los Angeles, CA 90005
      View Details
    • Contact for pricing
      1,188 SF

      Retail/Restaurant Space Available

      Prime retail or restaurant spaces for rent.
      2801 Sunset Pl, Los Angeles, CA 90005
      View Details
    • $3 SF/Yr
      2,436 SF

      Two-Story House with Ample Parking

      Two-story house with parking; commercial uses possible.
      Crenshaw Blvd, Los Angeles, CA 90005
      View Details
    • $2 SF/Yr
      2,200 SF

      Retail Building with Showroom

      Freestanding retail building featuring showroom and office improvements.
      918 N Western Ave, Los Angeles, CA 90005
      View Details
    • Contact for pricing

      Modern Koreatown Apartment with Amenities

      Modern 1BD/1BA apartment in Koreatown with luxurious amenities.
      750 S Oxford Ave, Los Angeles, CA 90005
      View Details
    • Contact for pricing

      Modern Koreatown Apartment for Rent

      Luxury apartment in Koreatown with modern amenities and convenient location.
      700 S Manhattan Pl, Los Angeles, CA 90005
      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.
    2974 8th St
    Los Angeles, CA 90005-1524
    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.