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    1922 7Th Pl Los Angeles, CA 90021

    Sponsored
    For Lease
    $24 SF/Yr

    39,000 SF Coworking/Creative Office

    Lot size:
    39,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional 39,000 square foot office building, located at 1922 E 7th Pl in Los Angeles, CA 90021, presents a unique opportunity. Classified as Class C, this single building sits on a 16,553 square foot lot and is zoned LAM3 (APN 5166-017-006). The property is ideal for coworking or creative office uses, offering multiple tenancy options with available spaces ranging from 1,400 to 11,000 square feet. Its prime Downtown Los Angeles location provides unparalleled access to Southern California's premier business hub, boasting superior transit and freeway access, a rich array of amenities, and a dynamic lifestyle. The thriving cultural scene, encompassing art galleries, restaurants, and entertainment venues, further enhances the property's appeal. This is an exceptional opportunity to secure a significant presence in a rapidly evolving and highly desirable area of Los Angeles. The property's size and flexible space options cater to a wide range of business needs, making it an attractive investment in a vibrant and growing market.

    Property Features for 1922 7Th Pl

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    39,000 SF
    Class
    C
    Total Rate
    78000

    Building Details

    Buildings
    1

    Unit(s) available at that property

    Space
    Ground Floor
    Size
    11,000 SF
    Rate per SF
    $24
    Space
    Unit 4
    Size
    1,400 SF
    Rate per SF
    $24

    We can help!

    Listing Contact
    Gregory Kho
    Gregory Kho

    Learn more

    Property Insight Report

    HighLights

    • Suitable for e‑commerce, creative office, or showroom use.
    • Full HVAC system installed.
    • 200‑amp electrical service and fully sprinklered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Creative Resilience Artful ... Art Gallery SOS Photo Studio Photographer make spaces Coworking Space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Building Supply Dental Office Auto Repair Shop Hair Salon Nail Salon Pharmacy

    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
    -118.23310304982
    Latitude
    34.033594179821

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    FAQs

    What type of property is this?
    Office space - 39,000 SF Coworking/Creative Office
    Where is this office space located?
    The property is located at 1922 7Th Pl Los Angeles, CA.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Suitable for e-commerce, creative office, or showroom use.; Full HVAC system installed.; 200-amp electrical service and fully sprinklered.
    Request Owner's contact information
    1922 7Th Pl Los Angeles, CA 90021
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    Los Angeles, CA 90021
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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
    1922 7Th Pl Los Angeles, CA 90021
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    We can help!
    Listing Contact
    Gregory Kho
    Gregory Kho
    Real Estate License ID: CA 02033257
    Learn more
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