Renovated Creative Office
For Sale
Contact for pricing
2045 Violet St, Los Angeles, CA 90021
Renovated creative workspace with gated parking, a fenced yard, and contemporary interior finishes.
Property Size10,625 SF
Price / SF$780
Days on Market38
Property Features for 2045 Violet St
General Information
Standard status
Active
Size
10,625 SF
Total Parking Spaces
25
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Amenities
secure fenced yard
motorized entry gate
Listing Agency:
Cushman & Wakefield
(213) 955-5100
Listed By:
Brandon Gill
(213) 629-6528
Source:
Moodyscre
Added: Jul 28
Changed: Sep 1
Last Checked: Sep 2 at 7:03PM
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 Cushman & Wakefield
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.
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 = 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
$252,198
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
3.04%
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%
$5,043,960
$5.0M
Cap Rate 7%
$3,602,829
$3.6M
Cap Rate 9%
$2,802,200
$2.8M
Market Conditions
NOI Build-Up for 10,625 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
$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 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%
$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
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
NOI $15,067,928 @ 7.0% cap · market cap 181.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
