Turnkey Creative Office
1605 1st Street Los Angeles, CA 90033
For Sale
$2,500,000
Fully renovated creative office/art studio building with private offices, conference room, art studio, and gated parking.
Property Size3,698 SF
Price / SF$676.04
Days on Market1103
Property Features for 1605 1st Street
General Information
- Standard status
- Active
- Size
- 3,698 SF
Building Details
- Year Built
- 1955
Listing Agency:
Kidder Mathews of California, Inc.
(310) 773-7975
Listed By:
Jacqueline Moeller · License #02074226
(310) 773-7975
Source:
Compass
Added: Jul 17, 2023
Changed: Jul 23
Last Checked: Jul 23 at 12:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews of California, Inc.
Investment Insights
Based on property information with market context.
1605 E 1st St is a fully renovated, turnkey creative office/art studio property designed for an owner-user. The building was recently remodeled with extensive improvements including new electrical, plumbing, HVAC, roof, alarm system, skylights, windows/doors, ramp/handrail, interior and exterior lighting, bathroom and light fixtures, and a custom kitchen installation.
The space includes two private offices, a spacious conference room, a ventilated art studio, two bathrooms, storage, and a 10' x 10' roll-up door for direct access. Gated parking is available with seven spaces.
The property is configured to support a variety of creative work needs, with a layout that combines office space with an on-site, ventilated art studio.
The space includes two private offices, a spacious conference room, a ventilated art studio, two bathrooms, storage, and a 10' x 10' roll-up door for direct access. Gated parking is available with seven spaces.
The property is configured to support a variety of creative work needs, with a layout that combines office space with an on-site, ventilated art studio.
Key Highlights
- 3,698 sq ft creative office/art studio building on 6,908 sq ft of land in Downtown LA
- Over $700,000 in recent remodel with new electrical, plumbing, HVAC, and roof
- High‑end updates include alarm system, skylights, windows/doors, exterior lighting, and custom kitchen installation
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.8k | $38.88 |
| − Vacancy | −$26.7k | −$7.23 |
| EGI | $117.0k | $31.65 |
| − OpEx | −$29.3k | −$7.91 |
| NOI | $87.8k | $23.74 |
3,698 SF · lease $38.88/SF/yr · vacancy 18.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.25M
$1.10M – $1.46M
NOI $87,777 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$74.92M
$65.55M – $87.41M
NOI $5,244,348 @ 7.0% cap · market cap 209.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Creative space
FAQs
What type of property is this?
Creative space - Fully renovated creative office/art studio building with private offices, conference room, art studio, and gated parking.
Where is this creative space located?
The property is located at 1605 1st Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 3,698 sq ft creative office/art studio building on 6,908 sq ft of land in Downtown LA; Over $700,000 in recent remodel with new electrical, plumbing, HVAC, and roof; High‑end updates include alarm system, skylights, windows/doors, exterior lighting, and custom kitchen installation
