Entity Owned 
For Lease
$5.75 SF/Yr
1041 North Formosa Ave, West Hollywood, CA 90046
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Property summary
AI-generated overview
This exceptional creative office space, located at 1041 N Formosa Ave in West Hollywood, CA 90046, offers 48,520 square feet of vacant space within a 160,533 square foot building. Situated on the historic grounds of MGM and Pickford-Fairbanks Studios, this property boasts a campus-like environment perfect for collaborative work. Individual suites range from 7,205 to 23,816 contiguous square feet, providing flexibility for various business needs. Built in 1994, the building features 14-foot ceilings and is located in the West Hollywood submarket of Los Angeles County. The property's prime location offers unparalleled opportunities for networking and collaboration within the media community, with neighbors including HBO and Heartbeat Productions. This unique offering combines the benefits of a professional workspace with the vibrant energy of a creative hub. The multiple tenancy structure allows for diverse occupancy, fostering a dynamic and inspiring atmosphere. This is more than just an office
Property profile
Verified
Property type
Data centers and call centers
Use group
RADIO OR TV STATION
Year built
1938
Construction
WOOD
Total area
255,868 SF
Lot
9.58 ac (417,132 SF)
Zoning code
WDC2C*
APN
5531-018-001
UPID
US09-8098467
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.27M
Owner & transaction history
since 2025
7 recorded transactions
Zoning & alternative use
WDC2C* · West Hollywood, CA
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$18.27M
Value range
$16.44M – $20.10M
±10% around blend
Estimated value / SF
$71 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$16.44M
blend $18.27M
$20.10M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
255,868 SF
Lot area
9.58 ac
Year built
1938
Stories
1
APN
5531-018-001
Zoning
WDC2C*
Assessed value
$228,189,451
Annual tax
$2,787,342
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$2,787,342
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$18.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 54 sales
$716
-90%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $71/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.69M
Move the market yield to see immediate price impact.
Value / SF
$30
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$484k
$9.69M
$6.92M
$5.38M
$538k
$10.76M
$7.69M
$5.98M
$592k
$11.84M
$8.46M
$6.58M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$2,787,342
Tax year 2024
Assessed value
$228,189,451
Assessed 2024
Previous assessed
$228,189,451
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$56,534,886
Assessed improvement
$171,654,565
Applied tax rate
9.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Data centers and call centers
Use group
RADIO OR TV STATION
Status
For Lease
Year built
1938
Construction
WOOD
Heating
NONE
Buildings
5
Stories
1
Units
733
Total area
255,868 SF
Lot
9.58 ac (417,132 SF)
Zoning code
WDC2C*
APN
5531-018-001
UPID
US09-8098467
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
WDC2C* · West Hollywood, CAZoning WDC2C* · permitted uses
WDC2C* · West Hollywood, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1938
Construction
WOOD
Heating
NONE
Stories
1
Buildings
5
Units
733
Lot
9.58 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
WDC2C*
Jurisdiction
West Hollywood, CA
Recorded code
WDC2C*
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for WDC2C* in West Hollywood, CA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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