1642 Westwood BlvdLos Angeles, CA 90024

Property Details for 1642 Westwood Blvd

Year built

1983

Construction

TILT-UP CONCRETE

Lot size

0.13 AC

Property size (Sq ft)

12,584 SF

Zone code

LAC4

Property type

Office buildings

APN

4325-021-005

APU

4325021005

Description

This exceptional three-story creative office building, located at 1642 Westwood Boulevard in Los Angeles, CA 90024, presents a unique owner-user or investment opportunity. Boasting 13,481 square feet on a 5,501 square foot lot, this Class B property offers ample space for a variety of uses. Built in 1983, the building features a multi-tenant configuration with current month-to-month leases, allowing for flexibility. The property includes 2.5 parking spaces per 1,000 square feet, distributed across two levels with separate alleyway entry/exit. Recent upgrades include a complete LED lighting conversion in 2020, enhancing energy efficiency. The building also benefits from several outdoor decks offering city views and security cameras throughout. Situated in the heart of Westwood, this property enjoys unparalleled access to amenities, including UCLA, Westwood Village, Century City, and Brentwood, with excellent freeway access via the 405 and 10 freeways. Additional income is generated from existing cellular equipment on the roof, leased to two separate tenants. The property is zoned LAC4 and has been under the same ownership since 2003. This presents a rare chance to acquire a well-maintained building with strong potential for either full or partial owner-occupancy, or as a fully vacant investment property. The asking price is $7,995,000 ($593.06 per square foot). Buyer to verify square footage. A video tour is available online.

• CAP approach

  CAP return

  Valuation

  6%

  $3,512,840

  6.5%

  $3,242,620

  7%

  $3,011,010

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,388,830

  Geo Method

  $2,392,970

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,350,090

  Retail / Commercial

  $3,262,930

  Mixed-Use / Specialty

  $3,256,520

  Hospitality / Lodging

  $2,396,010

  Institutional / Educational

  $3,387,340

  Residential Income

  $3,963,190

  Multifamily

  $4,724,250

  Automotive / Energy

  $2,903,430

  Parking / Income-Based Land

  $996,774

  Restaurant / Food Service

  $1,704,900

  Healthcare / Senior Housing

  $3,334,140

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0523

Longitude

-118.439

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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