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    649 Ridgeley Dr Los Angeles, CA 90036-3899
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    649 Ridgeley Dr Los Angeles, CA 90036-3899

    View on Map
    • Apartment buildings
    • 38,516 SF
    • 0.36 lot acres
    Off-Market
    Last Sale Feb 6, 2020
    $17,875,178
    Property ID
    US09-6531688
    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
    $16,735,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ridgeley Apartments / Apartment Building
    • JT's Remodeling and Maintenance / Construction Company / General Contractor

    Property Details for 649 Ridgeley Dr

    Year built
    1990
    Construction
    WOOD
    Lot size
    0.36 lot acres
    Property size
    38,516 SF
    Zone code
    LAR4
    Property type
    Apartment buildings
    APN
    5508-013-003
    APU
    5508013003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,900,000
      Market price range: $8.78M - $14.9M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $11,215,000
      Current use
      AUTO REPAIR, GARAGE
      $20,935,000
      Change: +87% Conversion: Difficult
      OFFICE BUILDING
      $19,330,000
      Change: +72% Conversion: Moderate
      MEDICAL BUILDING
      $17,545,000
      Change: +56% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $16,310,000
      Change: +45% Conversion: Difficult
      RETAIL STORES
      $15,815,000
      Change: +41% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $11,535,000
      Change: +3% 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
    -118.351
    Latitude
    34.0633
    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
    $234,345
    $11,499,366
    $7,692,494
    $19,191,860
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      7,671 SF

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      APARTMENT HOUSE (5+ UNITS) • 7,671 SF
      654 Burnside Ave, Los Angeles, CA 90036-3902
      View Details
    • Value Estimation
      $570,000
      21,296 SF

      626 Burnside Ave

      APARTMENT HOUSE (5+ UNITS) • 21,296 SF
      626 Burnside Ave, Los Angeles, CA 90036-3951
      View Details
    • Value Estimation by Request
      16,044 SF

      449 Cloverdale Ave

      APARTMENT HOUSE (5+ UNITS) • 16,044 SF
      449 Cloverdale Ave, Los Angeles, CA 90036-3483
      View Details
    • Value Estimation by Request
      9,406 SF

      648 Cloverdale Ave

      APARTMENT HOUSE (5+ UNITS) • 9,406 SF
      648 Cloverdale Ave, Los Angeles, CA 90036-4119
      View Details
    • Value Estimation
      $975,000
      31,952 SF

      659 Cloverdale Ave

      APARTMENT HOUSE (5+ UNITS) • 31,952 SF
      659 Cloverdale Ave, Los Angeles, CA 90036-4148
      View Details
    • Value Estimation
      $895,000
      43,044 SF

      603 Cochran Ave

      APARTMENT HOUSE (5+ UNITS) • 43,044 SF
      603 Cochran Ave, Los Angeles, CA 90036-4050
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,019 SF

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      Seven-unit multifamily property in a desirable Los Angeles location.
      744 Ridgeley Dr, Los Angeles, CA 90036
      View Details
    • $5,450,000
      16,588 SF

      Miracle Mile Art Deco Gem

      Historic 13-unit apartment building in Los Angeles' Miracle Mile.
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      16,588 SF

      Art Deco Miracle Mile Apartments

      Thirteen-unit Art Deco trophy asset in Miracle Mile.
      100 N Sycamore Ave, Los Angeles, CA 90036
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      Luxury Multifamily Investment Opportunity

      Upscale 132-unit apartment building in Miracle Mile submarket.
      740 Burnside Ave, Los Angeles, CA 90036
      View Details
    • $1,595,000
      3,041 SF

      Mid-Wilshire Triplex For Sale

      Three-unit property in a central Los Angeles location.
      854 Alandele Ave, Los Angeles, CA 90036
      View Details
    • $1,750,000
      3,041 SF

      Mid-Wilshire Triplex Investment Opportunity

      Renovated triplex in prime location with value-add potential.
      854 Alandele Ave, Los Angeles, CA 90036
      View Details

    Similar Nearby for Lease

    • $46 SF/Yr
      72,000 SF

      Wilshire Blvd Executive Office Suites

      Prestigious Miracle Mile Office Space Available
      5410 Wilshire Blvd, Los Angeles, CA 90036
      View Details
    • Contact for pricing

      Fairfax Creative Office Space

      Creative office space for rent in Fairfax, Los Angeles.
      145 S Fairfax Ave, Los Angeles, CA 90036
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Available For Rent

      Retail space available for rent in Los Angeles, CA.
      138-144 S La Brea Ave, Los Angeles, CA 90036
      View Details
    • Contact for pricing
      4,800 SF

      Retail Building For Lease

      Proposed retail building with 4,800 square feet available for rent.
      1358 N Highland Ave, Los Angeles, CA 90036
      View Details
    • Contact for pricing
      2,654 SF

      Creative Office Space with Rooftop

      Second floor creative office space with furnished rooftop.
      7257 Beverly Blvd, Los Angeles, CA 90036
      View Details
    • Contact for pricing

      Retail Property 100% Leased

      Retail property in Los Angeles, currently 100% leased.
      448-450 N Fairfax Ave, Los Angeles, CA 90036
      View Details
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    Los Angeles, CA 90036-3899
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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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