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    Property profile & analytics

    31194 La Baya Dr, Unit 102 Westlake Village, CA 91362-4022

    • Office buildings
    • 1,194 SF
    • 3.80 lot acres
    OFF-MARKET
    Last Sale
    Nov 29, 2023
    $680,500
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    3.8%
    Office buildings
    Location Intelligence
    Property ID
    US09-8322762
    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

    • Office buildings

    Property Details for 31194 La Baya Dr

    Year built
    1981
    Construction
    TILT-UP CONCRETE
    Lot size
    3.80 lot acres
    Property size
    1,194 SF
    Zone code
    WVM1*
    Property type
    Office buildings
    APN
    2054-028-058
    APU
    2054028058

    Description

    This 1,350-square-foot furnished office condo in Westlake Village, CA, presents a unique owner/user investment opportunity. Located at 31194 La Baya #206, 91362, this traditional office space boasts two large executive offices, a conference room, reception area, galley kitchen, and an in-suite restroom. The unit features two entrances and elevator access, along with four allocated parking spaces. Built in 1981 and zoned BP (Business Park), the property is move-in ready, offering immediate occupancy on October 30, 2024. The asking price is $540,000, translating to $400 per square foot. The convenient location offers proximity to numerous amenities, including Costco, the Four Seasons Hotel, Oaks Christian, Westlake Playfield Complex & YMCA, and various restaurants and shops. The 101 Freeway is also easily accessible. The owner's association maintains the common areas and exterior, providing a hassle-free ownership experience. This is an exceptional opportunity to build equity instead of paying rent. The net rentable square footage is 1,350 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $725,000
      ML approach
      $720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $465,000
      6.5%
      $430,000
      7%
      $400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $525,000
      Market price range: $286k - $884k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $535,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $725,000
      Change: +36% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $550,000
      Change: +3% Conversion: Difficult
      MEDICAL BUILDING
      $545,000
      Change: +1% Conversion: Easy
      RETAIL STORES
      $460,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Westlake Village
    County
    Los Angeles
    State
    California
    Longitude
    -118.802
    Latitude
    34.1558
    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
    $4,416
    $109,316
    $217,277
    $326,593
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $610,000
      1,800 SF

      3021 1000th Oaks Blvd

      OFFICE BUILDING • 1,800 SF
      3021 1000th Oaks Blvd, Thousand Oaks, CA 91362-3402
      View Details
    • Value Estimation
      $5,240,000
      15,031 SF

      3960 1000th Oaks Blvd

      PROFESSIONAL BUILDING • 15,031 SF
      3960 1000th Oaks Blvd, Westlake Village, CA 91362-3623
      View Details
    • Value Estimation
      $4,125,000
      11,769 SF

      2860 1000th Oaks Blvd

      OFFICE BUILDING • 11,769 SF
      2860 1000th Oaks Blvd, Thousand Oaks, CA 91362-3201
      View Details
    • Value Estimation by Request
      1,286 SF

      31194 La Baya Dr Ste, Unit 200

      OFFICE BUILDING • 1,286 SF
      31194 La Baya Dr Ste, Westlake Village, CA 91362-6430
      View Details
    • Value Estimation
      $22,040,000
      71,464 SF

      31255 Cedar Vly Dr

      OFFICE BUILDING • 71,464 SF
      31255 Cedar Vly Dr, Westlake Village, CA 91362-4014
      View Details
    • Value Estimation
      $755,000
      3,096 SF

      31192 La Baya Dr

      OFFICE BUILDING • 3,096 SF
      31192 La Baya Dr, Westlake Village, CA 91362-4021
      View Details

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    Similar Nearby for Lease

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      Westlake Village Office Sublease

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      Office Space in Westlake Village

      Contiguous office spaces available for lease in Westlake Village.
      31225 La Baya Dr, Westlake Village, CA 91362
      View Details
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    Westlake Village, CA 91362-4022
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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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