Listing Agency: Cushman & Wakefield Show Phone

Listed By: Brandon Gill Show Phone

Source: Moodyscre

Added: Jul 28 Changed: Oct 16 Last Checked: Oct 16 at 10:31AM

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Investment Insights

Based on property information with market context.

This 10,625-square-foot creative space combines renovated interiors with contemporary fixtures and finishes. The property includes a secured, fenced yard, a motorized entry gate, and approximately 25 private parking spaces, providing a controlled on-site parking environment for an owner-user operation.

The property is positioned in Los Angeles’ Arts District, steps from Warner Music Group, Bestia, Soho House, Maru Coffee, and Lucky's. Major regional freeway access is less than 0.5 miles away, supporting convenient connections throughout the area.

Key Highlights

• 10,625‑square‑foot creative space
• Renovated interiors with contemporary fixtures and finishes
• Approximately 25 spaces in a private gated parking area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$252,198

Cap Rate

3.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,043,960 $5.0M

Cap Rate 7%

$3,602,829 $3.6M

Cap Rate 9%

$2,802,200 $2.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,625 SF

Gross rent

$413.1K $38.88/SF

− Vacancy

−$76.8K −$7.23/SF

EGI

$336.3K $31.65/SF

− OpEx

−$84.1K −$7.91/SF

NOI

$252.2K $23.74/SF

Area

Los Angeles, CA

Vacancy

18.60%

Lease Rate

$38.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,043,960

Cap Rate 7%

$3,602,829

Cap Rate 9%

$2,802,200

Alternative Uses

Best Use

Office B

$3.60M

$3.15M – $4.20M (±1% cap)

NOI $252,198 @ 7.0% cap · market cap 3.04%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$215.26M

$188.35M – $251.13M (±1% cap)

NOI $15,067,928 @ 7.0% cap · market cap 181.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Dr. Alejandro M. ... Physician

Suggested Use

Top Pick Dental Office Real Estate Agency Spa & Massage Center Veterinary Clinic Pharmacy Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

3,084

Businesses Nearby

Explore this area Business Placement

Demographics for 90021, CA

5,192

Population

1,694

Households

3.1

Avg Household Size

46

Median Age

20%

College-Educated

64%

High-School Grad

2.0 sq mi

ZIP Area

2,596

Density / Sq Mi

$32,250

Median Household Income

$35,528

Median Earnings

$984

Median Rent

$1,075,800

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Creative space - Renovated creative workspace with gated parking, a fenced yard, and contemporary interior finishes.

Where is this creative space located?

The property is located at 2045 Violet St Los Angeles, CA.

What is the asking price?

The asking price for this property is $8,287,500.

What are key features of this property?

This property features: 10,625‑square‑foot creative space; Renovated interiors with contemporary fixtures and finishes; Approximately 25 spaces in a private gated parking area