Building Details

Building Size 1,140 SF

Year Built 1929

Listing Agency: Century 21 Hollywood Show Phone

Listed By: Alexander Yerekhman · License #01255937 Show Phone

Source: Crownroadinc

Added: Nov 15, 2024 Changed: Oct 27 Last Checked: Oct 27 at 3:11AM

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Investment Insights

Based on property information with market context.

This 1,140-square-foot creative office suite was built in 1929 and features an open plan, three separate offices, a large common area, and a private conference room. A kitchenette, exposed ceilings, natural light, creative finishes, and Art Deco details contribute to the interior character. The suite is described as impeccably maintained.

Hollywood & Vine Metro Station is a five-minute walk away. The property is next door to the Pantages Theater and across from the Capitol Records Building and the W Hotel. Parking is available at Vine Street.

Key Highlights

• 1,140‑square‑foot creative office suite
• Open plan with three separate offices and a large common area
• Private conference room and kitchenette

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,059

Cap Rate

4.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$541,180 $541.2K

Cap Rate 7%

$386,557 $386.6K

Cap Rate 9%

$300,656 $300.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,140 SF

Gross rent

$44.3K $38.88/SF

− Vacancy

−$8.2K −$7.23/SF

EGI

$36.1K $31.65/SF

− OpEx

−$9.0K −$7.91/SF

NOI

$27.1K $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%

$541,180

Cap Rate 7%

$386,557

Cap Rate 9%

$300,656

Alternative Uses

Best Use

Office B

$386.6K

$338.2K – $451.0K (±1% cap)

NOI $27,059 @ 7.0% cap · market cap 4.23%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$23.10M

$20.21M – $26.95M (±1% cap)

NOI $1,616,700 @ 7.0% cap · market cap 253.00%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

The Loft At Hollywood & Vine Restaurant Vivid Concept, Inc. Advertising Agency Webb & Ord Law Firm Spackling Frenchies Pet Store Polar Bear Lighting Home Decor Store

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Tanning Salon Nursing Home Mobile Phone Store Clothing & Fashion Store

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

Location Intelligence

Trade Area within ½ mile

5,822

Businesses Nearby

Explore this area Business Placement

Demographics for 90028, CA

32,330

Population

22,344

Households

1.4

Avg Household Size

36

Median Age

49%

College-Educated

90%

High-School Grad

1.5 sq mi

ZIP Area

21,553

Density / Sq Mi

$59,393

Median Household Income

$45,325

Median Earnings

$1,839

Median Rent

$970,800

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

Frequently Asked Questions

What type of property is this?

Creative space - An adaptable work setting combines private offices, shared workspace, and a conference room in a character-rich interior.

Where is this creative space located?

The property is located at 6253 Hollywood Boulevard 205 Hollywood, CA.

What is the asking price?

The asking price for this property is $639,000.

What are key features of this property?

This property features: 1,140‑square‑foot creative office suite; Open plan with three separate offices and a large common area; Private conference room and kitchenette