Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    672 La Fayette Park Pl Los Angeles, CA 90057

    • Office Properties & Spaces
    • 54,612 SF
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Young Communications Group / Public Relations Firm
    • People In Progress Inc - Food Distribution Center / Food Bank
    • Mage Design LLC / Fashion Designer
    • Elizabeth Rodriguez / Marriage Or Relationship Counselor
    • Josephine Wallace / Marriage Or Relationship Counselor

    Property Details for 672 La Fayette Park Pl

    Year built
    1927
    Property size
    54,612 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Office space

    Description

    Discover The Granada Buildings, a captivating four-building complex in Los Angeles' Koreatown submarket. This historic property, built in 1927 and renovated in 1990, boasts a unique Mediterranean and Spanish Colonial Revival architectural style. Spanning over 54,612 square feet, the complex offers 30 suites, with spaces ranging from a minimum of 1,242 square feet to a maximum contiguous space of 4,776 square feet. The property is classified as Class B and features 60 parking spaces and elevators. Located at 672 La Fayette Park Pl, Los Angeles, CA 90057, near the intersection of 7th Street and Hoover Street, this location provides convenient access to the 10, 110, and 101 Freeways, placing tenants within easy reach of Downtown Los Angeles and its numerous amenities. The zoning is LAC2. Originally designed as live-work spaces, The Granada Buildings have a rich history as a creative hub, attracting architects, artists, and designers. Enjoy the peaceful atmosphere adjacent to Lafayette Park, while benefiting from the vibrant energy of Koreatown. This is an exceptional opportunity to lease office space in a truly unique and historically significant building.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.283
    Latitude
    34.0605

    Comparable in this City

    • Value Estimation by Request
      54,612 SF

      666 La Fayette Park Pl

      OFFICE (GENERAL) • 54,612 SF
      666 La Fayette Park Pl, Los Angeles, CA 90057
      View Details
    • Value Estimation by Request
      21,484 SF

      1808 7th St

      OFFICE BUILDING • 21,484 SF
      1808 7th St, Los Angeles, CA 90057-6047
      View Details
    • Value Estimation by Request
      4,161 SF

      161 Alvarado St

      OFFICE BUILDING • 4,161 SF
      161 Alvarado St, Los Angeles, CA 90057-2218
      View Details
    • Value Estimation by Request
      20,592 SF

      1833 8th St

      OFFICE BUILDING (MULTI-STORY) • 20,592 SF
      1833 8th St, Los Angeles, CA 90057-4257
      View Details
    • Value Estimation by Request
      5,540 SF

      2542 3rd St

      OFFICE BUILDING • 5,540 SF
      2542 3rd St, Los Angeles, CA 90057-1929
      View Details
    • Value Estimation by Request
      9,900 SF

      2401 Beverly Blvd

      OFFICE BUILDING • 9,900 SF
      2401 Beverly Blvd, Los Angeles, CA 90057-1001
      View Details

    Similar Nearby for Sale

    • $7,800,000
      23,394 SF

      Los Angeles Office Building For Sale

      Office building with development potential in Los Angeles, California.
      2405-2501 W 3Rd St, Los Angeles, CA 90057
      View Details
    • $1,150,000
      2,778 SF

      The Burlington: LA Multifamily

      Charming 5-unit bungalow, prime location.
      272 Burlington Ave, Los Angeles, CA 90057
      View Details
    • $2,595,000

      Renovated Multifamily Building with Expansion Potential

      Cash flowing 10-unit building with plans for 6 more units.
      151 S Mountain View Ave, Los Angeles, CA 90057
      View Details
    • $2,730,000
      11,430 SF

      Westlake Multifamily Garden-Style Property

      Well-maintained 14-unit apartment property in Westlake District, Los Angeles.
      534 S Coronado St, Los Angeles, CA 90057
      View Details
    • $5,250,000
      8,440 SF

      Historic Filipinotown Performing Arts Venue

      Unique performing arts venue with bar in Historic Filipinotown.
      2214 Beverly Blvd, Los Angeles, CA 90057
      View Details
    • $3,200,000

      Westlake Approved 6-Unit Development

      Approved 6-unit development, 50% built, downtown LA views.
      253 Carondelet St, Los Angeles, CA 90057
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      2,089 SF

      Creative Office/Studio Space Available

      Creative office/studio unit for rent in Los Angeles.
      2221-2225 Beverly Blvd, Los Angeles, CA 90057
      View Details
    • $20 SF/Yr
      54,612 SF

      Koreatown Creative Office Space

      Historic LA Office Suites, 1,242-4,776 SF
      672 La Fayette Park Pl, Los Angeles, CA 90057
      View Details
    • $2 SF/Yr
      1,961 SF

      Creative Office/Studio in Echo Park

      Creative office/studio space in prime Echo Park location for lease.
      2225 Beverly Blvd, Los Angeles, CA 90057
      View Details
    • $2.00 SF/Yr
      5,800 SF

      5,800 SF Westlake Multi-Use Facility For Lease

      5,800 SF Westlake Multi-Use Facility For Lease
      180 S Alvarado St, Los Angeles, CA 90057
      View Details
    • $24 SF/Yr
      44,011 SF

      Prime LA Retail Space Available

      Restaurant/Retail Spaces in Los Angeles
      2030 8Th St, Los Angeles, CA 90057
      View Details
    • $4 SF/Yr
      5,795 SF

      Retail and Residential Units Available

      Retail and residential units for rent near Metro stations.
      602 S Westlake Ave, Los Angeles, CA 90057
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    672 La Fayette Park Pl
    Los Angeles, CA 90057
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.