K2 INVESTMENTSiamak Kalhor · Realtor
For Sale
Los Angeles, CA 90015 · Listing ID 40992429
15,229 SF, 100% leased, on a signalized corner — with a decade of rent left on the table.
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A rare mixed-use retail and office asset on a signalized corner in the heart of the Downtown Los Angeles Fashion District. Fifteen thousand square feet, fully leased, and extensively rebuilt — with the kind of in-place rents that make an underwriter sit up.
Following a 2009 fire, the building was substantially reconstructed and modernized: structural repairs, new roof systems, electrical upgrades, plumbing replacement, HVAC installation, elevator replacement, restroom reconstruction, and building-wide improvements. Plans, permits, and final inspections are available for review.
The property is 100% occupied by long-term tenants operating primarily on month-to-month agreements. Ownership has generally not pushed significant rent increases for approximately ten years — which is the whole thesis. In-place income is stable; market rent is somewhere well above it.
That combination — stable current cash flow, a heavily capitalized building, owner-user flexibility, and genuine mark-to-market upside — is what makes this a value-add play rather than a yield purchase. You are buying the spread between what the rent roll says today and what the Fashion District says it should say.
| Listing ID | 40992429 |
| Property type | Storefront Retail / Office |
| Building size | 15,229 SF |
| Price per SF | $325.04 |
| Cap rate | 5.08% |
| NOI | $251,516 |
| Percent leased | 100% |
| Year built | 1922 |
| Building class | C |
| Stories | 2 |
| Lot size | 0.18 AC |
| Building FAR | 1.95 |
| Zoning | LAM2 |
| APN | 5145-020-005 |
The Fashion District is Downtown LA's most active retail corridor — and this corner is at the center of it. Exceptionally walkable, exceptional public transit, and surrounded by national retail and banking: Starbucks, Grocery Outlet, Chase, Bank of America, U.S. Bank, plus Orangetheory, SoulCycle, and CorePower Yoga within the immediate trade area.
Downtown Los Angeles' Fashion District is one of the most heavily trafficked retail corridors in Southern California, and signalized corner positions within it are finite. This asset combines that location with something rarer: a building that has already absorbed its capital expenditure.
The economics are unusual in a good way. You acquire stable, fully-leased in-place income at a 5.08% cap — while inheriting roughly a decade of deferred rent growth. Because the tenancy is largely month-to-month, the path to market rent does not require waiting out long lease terms, and an owner-user can take space on their own timeline.
That combination — current cash flow, completed capital work, structural flexibility, and a documented gap between in-place and market rents — is what separates a value-add opportunity from a yield purchase. The upside here is not speculative; it is arithmetic.
Market figures reflect Napa Valley and Los Angeles reporting current to early 2026 and are provided as general context, not as a forecast or an appraisal.
A 5.08% cap rate on net operating income of approximately $251,516, at the $4,950,000 asking price — $325.04 per square foot across 15,229 square feet.
The building is 100% leased to long-term tenants operating primarily on month-to-month agreements, and ownership has generally not implemented significant rent increases for approximately ten years. The spread between in-place rents and current Fashion District market rents is the value-add thesis.
Following a 2009 fire the property was extensively reconstructed and modernized: structural repairs, new roof systems, electrical upgrades, plumbing replacement, HVAC installation, elevator replacement, restroom reconstruction, and building-wide improvements. Plans, permits, and final inspections are available for review.
Yes. Because tenancy is primarily month-to-month, an owner-user has unusual flexibility to take space over time while continuing to collect income on the balance of the building.
Zoned LAM2. The building is 15,229 square feet over two stories on a 0.18-acre lot, with a 1.95 FAR, originally built in 1922. APN 5145-020-005.
Exceptionally. The corner scores 100/100 for walkability and 100/100 for public transit, with a bike score of 80 — among the strongest mobility profiles in Downtown Los Angeles.
Varied, and that is part of the appeal. The ground-floor suites range from raw creative space with exposed wood truss ceilings and full street-front glass, to finished retail with fitting rooms and slat-wall fixturing, to a styled showroom suite. Several units retain original 1922 structure overhead while carrying modern HVAC, lighting, and flooring — the look tenants in this corridor actively want.
The heart of the Downtown Los Angeles Fashion District, on a signalized corner. National retail and banking in the immediate trade area include Starbucks, Grocery Outlet, Chase, Bank of America, U.S. Bank, plus Orangetheory, SoulCycle and CorePower Yoga.
K2 Investment, Inc. · Realtor & Investor · 35+ years in Napa Valley and Los Angeles
Co-listed with Bobak Kalhor, K2 Investment, Inc..
CA DRE #00908799
Direct (323) 541-6434 · Office (213) 624-0490
sk@k2investments.com · k2investments.com
Equal Housing Opportunity. All information is deemed reliable but not guaranteed and is subject to change, prior sale, or withdrawal without notice.
Financial information, including net operating income, cap rate, and lease terms, is provided by ownership and is deemed reliable but not guaranteed. Buyers should conduct their own due diligence and independently verify all figures, measurements, zoning, and permit documentation.