Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    406 Ave 56 Los Angeles, CA 90042-4614
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    406 Ave 56 Los Angeles, CA 90042-4614

    View on Map
    • Apartment buildings
    • 4,024 SF
    • 0.13 lot acres
    Off-Market
    Last Sale Jan 8, 2021
    $815,000
    Property ID
    US09-7364100
    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
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 406 Ave 56

    Year built
    1964
    Lot size
    0.13 lot acres
    Property size
    4,024 SF
    Zone code
    LARD2
    Property type
    Apartment buildings
    APN
    5468-029-026
    APU
    5468029026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $690,000
      ML approach
      $700,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,030,000
      Current use
      WAREHOUSE, STORAGE
      $1,125,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.194
    Latitude
    34.1037
    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
    $12,460
    $589,138
    $371,854
    $960,992
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      12,603 SF

      5712 Fayette St

      APARTMENT HOUSE (5+ UNITS) • 12,603 SF
      5712 Fayette St, Los Angeles, CA 90042
      View Details
    • Value Estimation by Request
      6,770 SF

      6042 Fayette St

      APARTMENT HOUSE (5+ UNITS) • 6,770 SF
      6042 Fayette St, Los Angeles, CA 90042-2754
      View Details
    • Value Estimation by Request
      5,238 SF

      4771 York Blvd

      APARTMENT HOUSE (5+ UNITS) • 5,238 SF
      4771 York Blvd, Los Angeles, CA 90042-1664
      View Details
    • Value Estimation
      $765,000
      18,186 SF

      767 Ave 50

      APARTMENT HOUSE (5+ UNITS) • 18,186 SF
      767 Ave 50, Los Angeles, CA 90042-3369
      View Details
    • Value Estimation
      $1,485,000
      42,124 SF

      407 Ave 50

      APARTMENT HOUSE (5+ UNITS) • 42,124 SF
      407 Ave 50, Los Angeles, CA 90042-3858
      View Details
    • Value Estimation
      $520,000
      8,442 SF

      415 Ave 50

      APARTMENT HOUSE (5+ UNITS) • 8,442 SF
      415 Ave 50, Los Angeles, CA 90042-3592
      View Details

    Similar Nearby for Sale

    • $3,500,000
      11,738 SF

      Highland Park Multifamily Investment Opportunity

      Prime Highland Park property with attractive financing and cash flow.
      Meridian St, Los Angeles, CA 90042
      View Details
    • $2,120,000
      9,599 SF

      Highland Park Multifamily Value-Add Opportunity

      43-unit portfolio in a sought-after Los Angeles sub-market.
      5629 Monte Vista St, Los Angeles, CA 90042
      View Details
    • Contact for pricing

      Monterey Road Multifamily Investment Opportunity

      20-unit multifamily property in Hermon, Northeast Los Angeles. Value-add potential.
      6431 Monterey Rd, Los Angeles, CA 90042
      View Details
    • New
      $3,000,000
      Pending

      Highland Park Multifamily Investment Opportunity

      43-unit portfolio in prime Highland Park location.
      217 Avenue 54 S, Los Angeles, CA 90042
      View Details
    • $3,500,000
      5,515 SF

      Highland Park Investment Property

      Five-unit property near Figueroa Street, minutes from DTLA and Pasadena.
      326 S Leslie Way, Los Angeles, CA 90042
      View Details
    • $2,495,000
      10,492 SF

      Highland Park Multifamily Value-Add Opportunity

      43-unit portfolio in a sought-after Los Angeles sub-market.
      820 Chestnut Ave, Los Angeles, CA 90042
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      5211 York Blvd, Los Angeles, CA 90042

      Conventional restaurants
      5211 York Blvd, Los Angeles, CA 90042
      View Details
    • $2,400 /Mo

      Highland Park Commercial Space

      Commercial space in a desirable Highland Park location.
      5827 York Blvd, Los Angeles, CA 90042
      View Details
    • Contact for pricing

      York Blvd Restaurant Opportunity

      Second-generation restaurant space available in vibrant Highland Park.
      5924-5930 York Blvd, Los Angeles, CA 90042
      View Details
    • $29,995
      12,500 SF

      Los Angeles Educational Facility For Lease

      Spacious school property with classrooms, dining area, and playground.
      Figueroa St, Los Angeles, CA 90042
      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.
    406 Ave 56
    Los Angeles, CA 90042-4614
    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!