Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3221 De Witt Dr Los Angeles, CA 90068-1421

    Property Lookup

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

    3221 De Witt Dr Los Angeles, CA 90068-1421

    View on Map
    • Office buildings
    • 3,268 SF
    • 0.08 lot acres
    Off-Market
    Last Sale Dec 9, 2020
    $1,600,016
    Property ID
    US09-8298351
    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.
    Value Estimations
    $1,770,000
    Show details
    Cap Rate Potential
    4.1%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • The Room Recording Studios / Recording Studio
    • The Room Studio City / Recording Studio

    Property Details for 3221 De Witt Dr

    Year built
    1967
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Property size
    3,268 SF
    Zone code
    LACR
    Property type
    Office buildings
    APN
    5579-015-010
    APU
    5579015010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,035,000
      ML approach
      $1,935,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,380,000
      6.5%
      $1,275,000
      7%
      $1,180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,166,000
      Market price range: $776k - $2.59M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,640,000
      Current use
      AUTO REPAIR, GARAGE
      $1,775,000
      Change: +8% Conversion: Difficult
      MEDICAL BUILDING
      $1,490,000
      Change: -9% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,385,000
      Change: -16% Conversion: Difficult
      RETAIL STORES
      $1,340,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.345
    Latitude
    34.1321
    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
    $20,864
    $1,379,570
    $318,362
    $1,697,932
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $16,500,000
      83,915 SF

      3800 Barham Blvd

      OFFICE BUILDING (MULTI-STORY) • 83,915 SF
      3800 Barham Blvd, Los Angeles, CA 90068-1054
      View Details
    • Value Estimation
      $2,830,000
      7,200 SF

      3500 Cahuenga W Blvd

      OFFICE BUILDING • 7,200 SF
      3500 Cahuenga W Blvd, Los Angeles, CA 90068-1304
      View Details
    • Value Estimation
      $2,445,000
      7,928 SF

      3375 Barham Blvd

      OFFICE BUILDING • 7,928 SF
      3375 Barham Blvd, Los Angeles, CA 90068-1446
      View Details
    • Value Estimation
      $560,000
      1,016 SF

      3621 Cahuenga W Blvd

      OFFICE BUILDING • 1,016 SF
      3621 Cahuenga W Blvd, Los Angeles, CA 90068-1205
      View Details
    • Value Estimation
      $860,000
      3,327 SF

      3359 Cahuenga W Blvd

      OFFICE BUILDING • 3,327 SF
      3359 Cahuenga W Blvd, Los Angeles, CA 90068-1327
      View Details
    • Value Estimation
      $6,165,000
      17,268 SF

      3402 Cahuenga W Blvd

      OFFICE BUILDING (MULTI-STORY) • 17,268 SF
      3402 Cahuenga W Blvd, Los Angeles, CA 90068
      View Details

    Similar Nearby for Sale

    • $1,699,000

      Commercial Building with Recording Studios

      2,000 SF commercial building renovated in 2022, recording studios.
      3311 Barham Blvd, Los Angeles, CA 90068
      View Details
    • $4,450,000
      11,954 SF

      Hollywood Automotive Warehouse

      Hollywood Automotive Warehouse
      1925 Wilcox Ave, Los Angeles, CA 90068
      View Details
    • $325,000

      Hollywood Hills Development Opportunity

      Five contiguous lots in Hollywood Hills with city and canyon views.
      2415 N San Marco Cir, Los Angeles, CA 90068
      View Details
    • Contact for pricing
      104.00 Acres

      Small Land Parcel in Los Angeles

      Small land parcel for sale in Los Angeles, CA.
      Cheremoya Ave, Los Angeles, CA 90068
      View Details
    • $3,850,000
      7,083 SF

      Multifamily Property with Six Units

      Six-unit multifamily property available for sale.
      2000 Beachwood Dr, Los Angeles, CA 90068
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Cahuenga Blvd Office Space

      Renovated office space in prime entertainment industry location.
      3575 Cahuenga Blvd, Los Angeles, CA 90068
      View Details
    • $2 SF/Yr

      Freestanding Creative Building in Los Angeles

      Creative freestanding building available for lease in Los Angeles.
      2801 Cahuenga Blvd W, Los Angeles, CA 90068
      View Details
    • Contact for pricing

      Office Building with Freeway Access

      Office building for rent with immediate freeway accessibility and parking.
      3151 Cahuenga Blvd W, Los Angeles, CA 90068
      View Details
    • $0.15 SF/Yr

      Office Space for Lease

      Office space available for lease.
      3255 Cahuenga Blvd W, Los Angeles, CA 90068
      View Details
    • $0.21 SF/Yr

      Creative Office Suites For Lease

      Creative office suites available for lease.
      3599 Cahuenga Blvd W, Universal City, CA 90068
      View Details
    • $2 SF/Yr
      5,800 SF

      Office Space Available For Rent

      Office space available for lease, approximately 5800 square feet.
      6767 Forest Lawn Dr, Los Angeles, CA 90068
      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.
    3221 De Witt Dr
    Los Angeles, CA 90068-1421
    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.
    Sign Up Successful!
    You now have access to more from Realmo!