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    1206 Maple Ave Los Angeles, CA 90015

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    Artist studios and creative offices in a Gothic Revival building.

    Type:Office
    Added:
    Aug 28, 2024
    Days on Market:
    605
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 1206 Maple Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1929

    Spaces For Lease

    at 1206 Maple Ave Contact us

    212 $1.60 /Mo

    Size
    1,300 SF
    Type
    Office
    Newly Renovated. Tall 12' ceilings, custom track lighting.
    Contact us

    210 $1.25 /Mo

    Size
    1,600 SF
    Type
    Office
    Older unit. Pricing AS-IS. Storage use+
    Contact us

    305 $1.50 /Mo

    Size
    2,874 SF
    Type
    Office
    Contact us

    340 $1.15 /Mo

    Size
    6,000 SF
    Type
    Office
    Contact us

    800 $1.50 /Mo

    Size
    4,850 SF
    Type
    Office
    Large renovated corner unit with spectacular skyline views.
    Contact us

    915 $1.60 /Mo

    Size
    2,800 SF
    Type
    Office
    Contact us

    1030 $2.00 /Mo

    Size
    3,024 SF
    Type
    Office
    Contact us

    326 $1.50 /Mo

    Size
    1,162 SF
    Type
    Office
    Contact us

    624 $1.60 /Mo

    Size
    1,415 SF
    Type
    Office
    Slightly larger than normal artist studio with windows facing East. 12' ceilings,...
    show more
    Contact us

    534 $1.50 /Mo

    Size
    1,800 SF
    Type
    Office
    East facing unit, larger than normal sized artist studio or small gallery. 12' ceilings...
    show more
    Contact us

    632 $1.60 /Mo

    Size
    1,100 SF
    Type
    Office
    West Facing with large windows and DTLA skyline views. Next to Elevator and restrooms.
    Contact us
    Show more

    We can help!

    Listing Contact
    Raymond Vela

    Listing agent Raymond Vela License #02215017

    Listing office Investors Property Services

    Listing date Aug 28, 2024

    Source Crexi

    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 Investors Property Services

    Overview

    Creative Space in Historic Building

    The Bendix Building, constructed in 1928 in the Gothic Revival style, is a notable structure known for its Bendix rooftop sign towering 150 feet above the ground. It is positioned adjacent to Santee Alley. The building serves as an artist enclave and a location for artist studios, galleries, and creative office entrepreneurs. The property includes below deck parking, package lockers, and a freight elevator.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Skyline Suite (Bike/Boat/Book/etc) Store Monte Vista Projects Art Gallery Bendix Building Art Gallery Heidi Duckler Dance Theater & Performing Art Venue in lieu Art Gallery

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2564063
    Latitude
    34.0353692

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    FAQs

    What type of property is this?
    Creative space - Artist studios and creative offices in a Gothic Revival building.
    Where is this creative space located?
    The property is located at 1206 Maple Ave Los Angeles, CA.
    What are key features of this property?
    This property features: Located in the notable Gothic Revival Bendix Building, built in 1928.; Part of an emerging community of artist studios, galleries, and creative office entrepreneurs.; Features the iconic Bendix rooftop sign.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Raymond Vela
    Real Estate License ID: 02215017
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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