Creative Live/Work Flex
For Sale
$1,695,000
5017 Exposition Blvd, Los Angeles, CA 90016
Two-story renovated live/work and flex campus near transit.
Property Size4,400 SF
Price / SF$385.23
Days on Market156
Property Features for 5017 Exposition Blvd
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Vacant-User
Amenities
Mid-City Creative Corridor – Steps to the E Line with Direct Connectivity to Culver City, USC/Expo Park, Downtown LA & Santa Monica
Rare Creative Campus – Two Permitted Artist-in-Residence Live/Work Units + One Flex Office
Turn-Key Renovation – 4,400 SF Free-Standing Building (Renovated 2005) with Skylights & Open Volumes
Clean Environmental – Clean Phase I and Phase II Reports Completed in 2025
Flexible Zoning – LAM1 Allows Creative Office, Light Industrial, Production, Gallery, Showroom & Live/Work. Certificate of Occupancy for 2 Live-Work Spaces (Buyer to Verify)
Demand Drivers – Minutes from Amazon MGM Studios, Apple Culver Crossings, Sony Pictures & Surrounding Creative Tech Ecosystem
Creative Configuration – Modernized Building Systems, High Functionality for Production, Content Creation, Design, or Hybrid Living
Three Income Components – Attractive to Investors Seeking Multi-Unit Cash Flow in a Growth Corridor Surrounded by West Adams Momentum – Major Mixed-Use, Retail, Culinary & Creative Developments Nearby
Building Details
Building Size
4,400 SF
Year Built
1948
Listing Agency:
Encino Office
Listed By:
Floyd Shaheen · License #License(s): CA: 01960743
(818) 212-2667
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 22
Last Checked: Sep 2 at 1:16PM
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 Encino Office
Investment Insights
Based on property information with market context.
This two-story creative live/work and flex campus offers versatility in a growing creative and transit-oriented area. The property has been thoughtfully renovated and is highly adaptable. It features two legally permitted Artist-in-Residence (live/work) units and one flex office suite. Each unit benefits from open volumes, skylights, and modernized building systems. The LAM1 zoning and clean Phase I & Phase II reports provide flexibility across a spectrum of creative, production, and light industrial uses. The building's configuration supports users seeking a hybrid lifestyle, creative firms wanting identity and control, or investors pursuing a multi-unit income strategy. Located steps from the Expo/La Brea E Line station, it provides rail access to Culver City, USC/Expo Park, Downtown LA, and Santa Monica. Proximity to major studio and tech employers drives long-term stability and demand for creative workspace in this emerging district. A full renovation was completed in 2005. The property has skylights bringing natural light and flexible floorplates ideal for adaptive creative reconfiguration. The property size is 4400 square feet.
Key Highlights
- Rare creative live/work and flex campus in a rapidly growing, transit‑oriented location.
- Two legally permitted Artist‑in‑Residence (live/work) units and one flex office suite.
- LAM1 zoning and clean Phase I & Phase II reports offer flexibility.
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
$104,439
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
6.16%
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%
$2,088,780
$2.1M
Cap Rate 7%
$1,491,986
$1.5M
Cap Rate 9%
$1,160,433
$1.2M
Market Conditions
NOI Build-Up for 4,400 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
$171.1K $38.88/SF
− Vacancy
−$31.8K −$7.23/SF
EGI
$139.3K $31.65/SF
− OpEx
−$34.8K −$7.91/SF
NOI
$104.4K $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%
$2,088,780
Cap Rate 7%
$1,491,986
Cap Rate 9%
$1,160,433
Alternative Uses
Best Use
Office B
$1.49M
$1.31M – $1.74M
NOI $104,439 @ 7.0% cap · market cap 6.16%
Second Best
Mixed Use
$1.27M
$1.11M – $1.49M
NOI $89,100 @ 7.0% cap · market cap 5.26%
Theoretical Best
Multifamily LT 5
$89.14M
$78.00M – $104.00M
NOI $6,239,895 @ 7.0% cap · market cap 368.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 90016, CA
46,512
Population
19,529
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
12,920
Density / Sq Mi
$71,067
Median Household Income
$42,292
Median Earnings
$1,729
Median Rent
$919,800
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?
Live-work space - Two-story renovated live/work and flex campus near transit.
Where is this live-work space located?
The property is located at 5017 Exposition Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Rare creative live/work and flex campus in a rapidly growing, transit‑oriented location.; Two legally permitted Artist‑in‑Residence (live/work) units and one flex office suite.; LAM1 zoning and clean Phase I & Phase II reports offer flexibility.
