Live-Work Creative
For Sale
$2,895,000
1411 Cloverfield Blvd, Santa Monica, CA 90404
Boutique three-unit live-work property with private outdoor space, central HVAC, and secure off-street parking.
Property Size4,098 SF
Price / SF$706.44
Days on Market327
Property Features for 1411 Cloverfield Blvd
General Information
Standard status
Active
Size
4,098 SF
Property subtype
Residential Income
Listing Agency:
Remax Commercial and Investment Realty
(213) 817-1000
Listed By:
Jonathan Taksa · License #01366169
(424) 672-8220
Source:
Exprealty
Added: Oct 13, 2025
Changed: Sep 4
Last Checked: Aug 8 at 10:11AM
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 Remax Commercial and Investment Realty
Investment Insights
Based on property information with market context.
The Cloverfield Creative Residences is a boutique collection of three reimagined live/work units offered for sale. Each unit features hardwood floors, soaring ceilings, abundant natural light, exposed brick walls, and central HVAC. The layouts also include private outdoor spaces and secure off-street parking, supporting both everyday comfort and practical operational use.
The property is located at 1411 Cloverfield Boulevard in the Media District, with proximity to multiple industry and healthcare users referenced in the listing. Surrounding companies mentioned include Amazon, Oracle, Red Bull, CBS, Sony, and Dick Clark Productions, along with nearby medical providers St. John’s Medical Center and Parkside Medical. The remarks also cite the emerging Bergamot Station Arts Center redevelopment.
Designed for flexibility, the residences can be a fit for owner-users who want a creative or professional workspace combined with a live setting. The live-work configuration and in-unit central HVAC make the property suitable for users seeking a high-design environment, including creative professionals, medical and tech users, design firms, and boutique production companies.
The property is located at 1411 Cloverfield Boulevard in the Media District, with proximity to multiple industry and healthcare users referenced in the listing. Surrounding companies mentioned include Amazon, Oracle, Red Bull, CBS, Sony, and Dick Clark Productions, along with nearby medical providers St. John’s Medical Center and Parkside Medical. The remarks also cite the emerging Bergamot Station Arts Center redevelopment.
Designed for flexibility, the residences can be a fit for owner-users who want a creative or professional workspace combined with a live setting. The live-work configuration and in-unit central HVAC make the property suitable for users seeking a high-design environment, including creative professionals, medical and tech users, design firms, and boutique production companies.
Key Highlights
- Boutique live/work property with 3 reimagined units at 1411 Cloverfield Boulevard, Santa Monica (Year built: 1999).
- Each residence features central HVAC for year‑round comfort.
- Private outdoor space included with every unit.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,579
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,791,580
$1.8M
Cap Rate 7%
$1,279,700
$1.3M
Cap Rate 9%
$995,322
$995.3K
Market Conditions
NOI Build-Up for 4,098 SF
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.
Gross rent
$157.4K $38.40/SF
− Vacancy
−$37.9K −$9.25/SF
EGI
$119.4K $29.15/SF
− OpEx
−$29.9K −$7.29/SF
NOI
$89.6K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,791,580
Cap Rate 7%
$1,279,700
Cap Rate 9%
$995,322
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,579 @ 7.0% cap · market cap 3.09%
Second Best
Mixed Use
$1.19M
$1.04M – $1.38M
NOI $82,985 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,584 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,977
Businesses Nearby
Explore this area
Business Placement
Demographics for 90404, CA
21,995
Population
11,499
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
10,998
Density / Sq Mi
$85,081
Median Household Income
$66,349
Median Earnings
$2,095
Median Rent
$1,159,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Boutique three-unit live-work property with private outdoor space, central HVAC, and secure off-street parking.
Where is this live-work space located?
The property is located at 1411 Cloverfield Blvd Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: Boutique live/work property with 3 reimagined units at 1411 Cloverfield Boulevard, Santa Monica (Year built: 1999).; Each residence features central HVAC for year‑round comfort.; Private outdoor space included with every unit.
