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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Retail space
8479 Melrose Pl Los Angeles, CA 90069
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6350871
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
WOOD
Total area
5,935 SF
Lot
0.11 ac (4,987 SF)
Zoning code
LAC4
APN
5528-001-058
UPID
US09-6350871
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.87M
Owner & transaction history
Park Lane Acquisitions LLC · 19 yrs held
Park Lane Acquisitions LLC
since 2006
7 recorded transactions
Zoning & alternative use
LAC4 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.0M
+22.2%
Medical building
$2.7M
+11.0%
Neighborhood: shopping center
$2.5M
+3.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Los Angeles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Los Angeles submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,295,000
6.5%
$2,120,000
7%
$1,970,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,435,000
Current use
OFFICE BUILDING
$2,980,000
Change: +22% · Conversion: Easy
MEDICAL BUILDING
$2,705,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,515,000
Change: +3% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,350,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$314 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$98,819
Tax year 2024
Assessed value
$8,173,635
Assessed 2024
Previous assessed
$8,173,635
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$7,224,365
Assessed improvement
$949,270
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
NONE
Stories
1
Units
2
Total area
5,935 SF
Lot
0.11 ac (4,987 SF)
Zoning code
LAC4
APN
5528-001-058
UPID
US09-6350871
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAC4 · Los Angeles, CA
Zoning LAC4 · permitted uses
LAC4 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Los Angeles. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
OFFICE BUILDING
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
WOOD
Heating
NONE
Stories
1
Units
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Park Lane Acquisitions LLC
Entity
Mailing address
819 N LA CIENEGA BLVD, WEST HOLLYWOOD, CA 90069-4707
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2022
—
Park Lane Acquisitions LLC
—
Deed
related
$9,900,000 · Morgan Stanley Private Bank NA
Aug 16, 2017
—
Park Lane Acquisitions LLC
—
Deed
related
—
Dec 20, 2016
—
Park Lane Acquisitions LLC
—
Deed
related
$7,285,000 · Eastwood Bank
Dec 18, 2006
—
Park Lane Acquisitions LLC
Beverly Hills Santa Monica No
Grant Deed
$6,000,000 · Ixis Real Estate Capital INC
Aug 23, 2006
—
Nahigian Steven H Tr
Harutunian,gloria
Affidavit Of Death
$4,000,000 · James W Terbeek
Aug 1, 2006
—
Hhnt Properties LLC
Hhnt Properties LLC
Quit Claim Deed
related
—
May 1, 2006
—
Hhnt Properties LLC
Harutunian Gloria Trust
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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