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    970 Menlo Ave Los Angeles, CA 90006-2866
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    Property profile & analytics

    970 Menlo Ave Los Angeles, CA 90006-2866

    View on Map
    • Apartment buildings
    • 33,423 SF
    • 0.48 lot acres
    Off-Market
    Last Sale Jun 5, 2020
    $9,300,093
    Property ID
    US09-8190845
    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
    $9,140,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • J&S Painting Inc. / Painting Service / General Contractor

    Property Details for 970 Menlo Ave

    Year built
    1958
    Construction
    WOOD
    Lot size
    0.48 lot acres
    Property size
    33,423 SF
    Zone code
    LAR4
    Property type
    Apartment buildings
    APN
    5076-002-019
    APU
    5076002019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,480,000
      ML approach
      $8,450,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,173,000
      Market price range: $4.25M - $10.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,525,000
      Current use
      MEDICAL BUILDING
      $15,225,000
      Change: +102% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $14,155,000
      Change: +88% Conversion: Difficult
      RETAIL STORES
      $13,720,000
      Change: +82% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $11,015,000
      Change: +46% 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
    -118.29
    Latitude
    34.0532
    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
    $124,158
    $6,004,330
    $3,986,046
    $9,990,376
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation by Request
      5,037 SF

      1703 Bonnie Brae St

      APARTMENT HOUSE (5+ UNITS) • 5,037 SF
      1703 Bonnie Brae St, Los Angeles, CA 90006-5554
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    • Value Estimation by Request
      4,486 SF

      1708 Bonnie Brae St

      APARTMENT HOUSE (5+ UNITS) • 4,486 SF
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      1143 Normandie Ave

      APARTMENT HOUSE (5+ UNITS) • 3,504 SF
      1143 Normandie Ave, Los Angeles, CA 90006-3262
      View Details
    • Value Estimation
      $585,000
      7,404 SF

      1124 Normandie Ave

      APARTMENT HOUSE (5+ UNITS) • 7,404 SF
      1124 Normandie Ave, Los Angeles, CA 90006-1982
      View Details
    • Value Estimation by Request
      5,059 SF

      1320 Westlake Ave

      APARTMENT HOUSE (5+ UNITS) • 5,059 SF
      1320 Westlake Ave, Los Angeles, CA 90006-5016
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Ready-to-Issue Affordable Housing Development

      Shovel-ready, 90-unit affordable housing development opportunity in Los Angeles.
      2716 James M Wood Blvd, Los Angeles, CA 90006
      View Details
    • $949,000
      2,858 SF

      Los Angeles Investment Property Quadruplex

      Five-unit investment property in Pico-Union with development potential.
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      Mixed-Use Building Near South Park

      Well-maintained mixed-use building with warehouse, offices, and apartment.
      1447-1453 Malvern Ave, Los Angeles, CA 90006
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    • New
      $1,999,000
      12,306 SF

      Los Angeles Multifamily Courtyard Property

      Eleven-unit Spanish Colonial with income and rental upside.
      2375 W 12Th St, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      Mixed-Use Building in Pico Union

      43-unit mixed-use building with commercial spaces and upside potential.
      1262 Fedora St, Los Angeles, CA 90006
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    • New
      $2,334,000
      3,786 SF

      Los Angeles Multifamily Investment Opportunity

      Two adjacent income properties near Downtown Los Angeles for sale.
      968 S New Hampshire Ave, Los Angeles, CA 90006
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    Similar Nearby for Lease

    • Contact for pricing

      High Visibility Olympic Blvd Location

      Prime location on Olympic Blvd, near Downtown L.A.
      2300 W Olympic Blvd, Los Angeles, CA 90006
      View Details
    • Contact for pricing
      47,207 SF

      Warehouse with Freeway Access

      Warehouse with immediate access to major freeways and secure yard.
      2303 E 11Th St, Los Angeles, CA 90006
      View Details
    • $1.95 SF/Yr
      12,126 SF

      Koreatown Retail/Medical Office Space

      High-traffic corner location ideal for retail or medical office.
      991 S Vermont, Los Angeles, CA 90006
      View Details
    • $1.35 SF/Yr
      12,000 SF

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

      12,000 SF Renovated Pico/Union Industrial Facility For Lease
      1810 W Pico Blvd, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      Freestanding Retail Building For Lease

      Prominent retail building in dense Los Angeles neighborhood.
      1815 S Vermont Ave, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      Retail Space for Rent

      Retail space available for rent in Los Angeles, CA.
      933 S Western Ave, Los Angeles, CA 90006
      View Details
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    970 Menlo Ave
    Los Angeles, CA 90006-2866
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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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