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    Property profile & analytics

    3023 S Grand Ave Los Angeles, CA 90007

    • Investment properties
    • 7,386 SF
    • 0.13 lot acres
    For Sale
    View listing
    $4,000,000
    Last Sale
    Nov 04, 2021
    $2,700,027
    Value Estimations
    Cap Rate Potential
    6.3%
    Investment properties
    Location Intelligence
    Property ID
    US09-7611319
    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

    • Investment properties

    Property Details for 3023 S Grand Ave

    Year built
    1923
    Construction
    TILT-UP CONCRETE
    Lot size
    0.13 lot acres
    Property size
    7,386 SF
    Zone code
    LAM1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    5122-018-014
    APU
    5122018014

    Description

    This exceptional mixed-use investment opportunity presents a 14,711 square foot, two-story building situated on a 10,925 square foot lot at the highly visible northwest corner of Grand Avenue and 31st Street in Los Angeles, CA 90007. The property boasts a strong financial performance, with a current net operating income (NOI) of $171,696 and a 4.29% capitalization rate. The building comprises five ground-floor retail units and thirteen second-floor apartments, generating substantial rental income. The property features eight parking spaces and benefits from a prime location just three blocks east of the University of Southern California (USC) campus and a mile south of the Santa Monica (I-10) Freeway and Downtown Los Angeles, including the Crypto.com Arena and LA LIVE. With 109.25 feet of frontage on Grand Avenue and 100 feet on 31st Street, this property offers excellent visibility and accessibility. Built in 1922, the building is zoned LA M1-2. The asking price is $4,000,000, representing a price per square foot of $271.90. This is a rare chance to acquire a well-established, income-producing asset in a thriving Los Angeles neighborhood. The property's strong cash flow, prime location, and diverse income streams make it an attractive investment for both owner-users and passive investors. The APN is 5122-018-014,016.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,370,000
      ML approach
      $2,510,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,495,000
      6.5%
      $2,300,000
      7%
      $2,135,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,949,000
      Market price range: $945k - $3.71M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,210,000
      Current use
      AUTO REPAIR, GARAGE
      $4,015,000
      Change: +81% Conversion: Difficult
      OFFICE BUILDING
      $3,705,000
      Change: +68% Conversion: Easy
      MEDICAL BUILDING
      $3,365,000
      Change: +52% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,130,000
      Change: +41% Conversion: Difficult
      RETAIL STORES
      $3,030,000
      Change: +37% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,270,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.275
    Latitude
    34.0229
    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
    $17,774
    $520,200
    $884,840
    $1,405,040
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.00 Acres

      Los Angeles, CA 90007

      OFFICE/RESIDENTIAL (MIXED USE) • 1.00 Acres
      Los Angeles, CA 90007
      View Details
    • Value Estimation
      $610,000
      0.16 Acres

      Los Angeles, CA 90007

      OFFICE/RESIDENTIAL (MIXED USE) • 0.16 Acres
      Los Angeles, CA 90007
      View Details
    • Value Estimation
      $1,385,000
      7,772 SF

      2300 Vermont Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,772 SF
      2300 Vermont Ave, Los Angeles, CA 90007
      View Details
    • Value Estimation
      $620,000
      4,680 SF

      1856 Washington Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 4,680 SF
      1856 Washington Blvd, Los Angeles, CA 90007-1152
      View Details
    • Value Estimation
      $760,000
      5,989 SF

      1744 Washington Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,989 SF
      1744 Washington Blvd, Los Angeles, CA 90007-1119
      View Details
    • Value Estimation
      $1,195,000
      9,273 SF

      2101 Estrella Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 9,273 SF
      2101 Estrella Ave, Los Angeles, CA 90007-2043
      View Details

    Similar Nearby for Sale

    • $2,500,000
      0.21 Acres

      Mixed-Use Property Near USC

      Mixed-use property near USC, ideal for investors or developers.
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      View Details
    • $4,000,000
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      4.29% Cap Mixed-Use Investment Opportunity

      4.29% Cap Mixed-Use Investment Opportunity
      3023 S Grand Ave, Los Angeles, CA 90007
      View Details
    • $1,499,000

      Mixed-Use Building Near USC

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      Beautiful Manufacturing/Warehouse Facility

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      Los Angeles Specialty Property

      Specialty property available for sale in Los Angeles, CA.
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      Adams-Normandie Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • $2 SF/Yr
      921 SF

      Los Angeles Live/Work Studio Space

      Second floor live/work studio space available for rent.
      3724-3761 S Hill St, Los Angeles, CA 90007
      View Details
    • $2 SF/Yr
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      Live/Work Studios Available

      Second floor studios with kitchens and restrooms for rent.
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      View Details
    • Contact for pricing
      23,052 SF

      Prime Retail Space Near USC

      Los Angeles storefront, multiple suites available.
      325 Adams Blvd, Los Angeles, CA 90007
      View Details
    • $1.10 SF/Yr
      5,300 SF

      Warehouse Near DTLA Fashion District

      5,300 SF warehouse with parking and office space for lease.
      1200 E 28Th St, Los Angeles, CA 90007
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    • $2 SF/Yr
      672 SF

      Creative Flex Spaces For Rent

      Creative flex spaces with HVAC, restroom & kitchenette. No CAM!
      2222-2296 S Figueroa St, Los Angeles, CA 90007
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    • $3 SF/Yr
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      Remodeled Retail Space Available

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      2300-2306 S Union Ave, Los Angeles, CA 90007
      View Details
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    3023 S Grand Ave
    Los Angeles, CA 90007
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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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