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

    946 Menlo Ave Los Angeles, CA 90006

    • Hotels
    • 4,465 SF
    • 0.22 lot acres
    For Sale
    View listing
    $8,000,000
    Last Sale
    Mar 20, 2020
    $800,000
    Value Estimations
    Cap Rate Potential
    7.2%
    Hotels
    Location Intelligence
    Property ID
    US09-7321025
    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.

    Current Use by Public Records

    • M.E.N.T.O.R.S. Inc. / Housing Complex

    Property Details for 946 Menlo Ave

    Year built
    1908
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    4,465 SF
    Zone code
    LAR4
    Property type
    Hotels
    APN
    5076-002-024
    APU
    5076002024

    Description

    This exceptional 19,166 square foot land parcel, located at 946 and 950 Menlo Avenue in Los Angeles, California, presents a remarkable development opportunity. Situated in the vibrant Koreatown neighborhood, this property boasts an advantageous R4-1 zoning designation, allowing for a high density of residential units. The lot size offers significant potential for a substantial project. The address is conveniently located near the intersection of Vermont and Olympic Boulevards, providing excellent access to major transportation arteries and a wealth of amenities. The property's APN numbers are 5076002023 and 5076002024. The current owner, M.C. Industrial, LLC, is offering this prime real estate for sale at $8,000,000. Under the Tier 4 Density Bonus, the R4-1 zoning permits the construction of up to 87 housing units as of right, making this a highly attractive investment for developers seeking to capitalize on the strong demand for residential properties in this thriving area of Los Angeles. The property is being sold as-is. This is a rare opportunity to acquire a large, well-located parcel in a highly sought-after neighborhood. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $795,000
      ML approach
      $715,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $955,000
      6.5%
      $880,000
      7%
      $820,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.29
    Latitude
    34.0542
    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
    $22,633
    $1,508,759
    $313,355
    $1,822,114
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $355,000
      14,744 SF

      1717 Vermont Ave

      HOTEL • 14,744 SF
      1717 Vermont Ave, Los Angeles, CA 90006-4523
      View Details
    • Value Estimation
      $270,000
      2,841 SF

      2685 James M Wood Blvd

      HOTEL • 2,841 SF
      2685 James M Wood Blvd, Los Angeles, CA 90006-1705
      View Details
    • Value Estimation
      $500,000
      47,980 SF

      2666 Olympic Blvd

      HOTEL • 47,980 SF
      2666 Olympic Blvd, Los Angeles, CA 90006-2869
      View Details
    • Value Estimation
      $385,000
      10,002 SF

      920 Alvarado St

      HOTEL • 10,002 SF
      920 Alvarado St, Los Angeles, CA 90006-3008
      View Details
    • Value Estimation
      $385,000
      4,060 SF

      1024 Fedora St

      HOTEL • 4,060 SF
      1024 Fedora St, Los Angeles, CA 90006-2555
      View Details
    • Value Estimation
      $3,480,000
      7,500 SF

      2205 Venice Blvd

      HOTEL • 7,500 SF
      2205 Venice Blvd, Los Angeles, CA 90006-5107
      View Details

    Similar Nearby for Sale

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      Downtown LA Residential Land

      0.4 Acres, R4-1VL Zoning, $2.8M
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      Pico/Union Commercial Property

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    • $2,975,000
      7,300 SF

      Modern Los Angeles Multifamily Investment

      New construction, five-unit community in vibrant Pico-Union neighborhood.
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    • $1,556,000
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      Multi-Family Income Properties in Los Angeles

      Two adjacent income properties totaling 11 units near Downtown Los Angeles.
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      Koreatown Fourplex Investment Opportunity

      Well-maintained fourplex in prime Koreatown with strong income potential.
      1132 S Oxford Ave, Los Angeles, CA 90006
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    Similar Nearby for Lease

    • $3,988 /Mo
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      Modern Townhouse with Premium Finishes

      Spacious 5 bed, 5 bath townhouse with modern upgrades.
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      Retail Space on Pico Boulevard

      Retail space available for rent on West Pico Boulevard.
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    • $1.49 SF/Yr
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      Creative Office/Studio Space

      Creative Office/Studio Space
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      View Details
    • $42 SF/Yr
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      Olympic Blvd Restaurant Space

      Prime LA location, 1800 sq ft.
      2300A Olympic Blvd, Los Angeles, CA 90006
      View Details
    • Contact for pricing
      4,100 SF

      Pico Blvd Retail Space For Lease

      Prime Los Angeles Retail, 4100 SF Available
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    • $1.35 SF/Yr
      12,000 SF

      12,000 SF Renovated Pico/Union Industrial Facility For Lease

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      View Details
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    Los Angeles, CA 90006
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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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