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Property profile & analytics
OFF-MARKET
Estimated value
$4,730,000
Motels
8480 Figueroa St Los Angeles, CA 90003-2729
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7243350
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1947
Construction
WOOD
Total area
5,372 SF
Lot
0.34 ac (14,743 SF)
Zoning code
LAC2
APN
6032-035-008
UPID
US09-7243350
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
Current use
Occupant on record · Public records
-
Palms Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.45M
Blend (final)
Blend
$4.73M
Owner & transaction history
Klare 21 LLC · 3 yrs held
Klare 21 LLC
since 2022
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
LAC2 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.4M
+93.4%
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
$5,535,000
ML approach
$5,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,420,000
Change: +93% · Conversion: Difficult
Blend value · Realmo final
$4.73M
Range $4.26M – $5.20M · ±10% · vs last sale $4.70M (Sep 26 2022)
Last sale anchor
$4.70M
Sep 26 2022
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
$880 / 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
$58,654
Tax year 2024
Assessed value
$4,794,000
Assessed 2024
Previous assessed
$4,794,000
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$3,162,000
Assessed improvement
$1,632,000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1947
Construction
WOOD
Heating
NONE
Stories
1
Units
26
Bathrooms
15
Total area
5,372 SF
Lot
0.34 ac (14,743 SF)
Zoning code
LAC2
APN
6032-035-008
UPID
US09-7243350
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAC2 · Los Angeles, CA
Zoning LAC2 · permitted uses
LAC2 · 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
RESTAURANT
Est. value
$4.4M
RESTAURANT
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
1947
Construction
WOOD
Heating
NONE
Stories
1
Units
26
Bathrooms
15
Lot
0.34 ac
Current owner
From public records · entity-resolved
Klare 21 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1933 S BROADWAY #1144, LOS ANGELES, CA 90007-4501
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2022
$4,700,000
Klare 21 LLC
La Palms Property
Grant Deed
—
Sep 26, 2022
—
Klare 21 LLC
La Palms Property
Quit Claim Deed
related
—
Jun 29, 2011
$850,000
La Palms Property INC
King Cora Trust
Grant Deed
$450,000 · King Cora Trust
Jun 29, 2011
—
Reese Perell Tr
King,cora
Affidavit Of Death
—
Oct 25, 2007
—
King Cora Living Trust
King,cora H
Quit Claim Deed
related
—
Jul 9, 2003
—
Cora H King
Pickett,kevin L
Quit Claim Deed
related
—
Jun 14, 1993
$275,000
Kevin L Pickett
Coral Management
Grant Deed
—
May 25, 1993
$213,759
Coral Management Consultants
Patel,jashbhai P
Trustees Deed
related
—
—
—
Shriji Corp
—
Deed Of Trust
related
$64,200 · Us Small Business Admn
—
—
Shriji Corp
—
Deed Of Trust
related
$160,000 · Us Small Business Admn
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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