1005 N Madison Ave 6,877 SF 77% Leased Retail Building Los Angeles, CA 90029 $4,250,000 ($618.00/SF) 4.40% Cap Rate

The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 1005 N Madison Avenue, a 6,877 SF multi-tenant retail and creative office asset situated on 0.20 acres (8,910 SF) of land in the heart of Los Angeles. The subject property is positioned on the soft NW corner of N Madison Avenue and Willow Brook Avenue, one block south of Santa Monica Boulevard, near Silver Lake, Sunset Junction, and East Hollywood, a dynamic and supply-constrained submarket in Los Angeles, CA.
1005 N Madison Avenue consists of eight (8) individual storefront units and is currently 77.0% occupied by four tenants. The property has recently undergone a comprehensive renovation with over $1,000,000 invested, including new HVAC systems, plumbing, electrical, flooring, windows, lighting, doors, and fixtures. Each unit features a glass storefront entry, rear private access, kitchen hookups, and private restrooms, allowing the asset to accommodate a wide range of retail, creative, and service-oriented uses. Due to the site’s proximity to transit, AB 2097 eliminates municipal parking requirements, providing flexibility for all uses permitted under the existing zoning.
The property’s short-term lease profile and current vacancy create a compelling owner-user and value-add opportunity. A user can immediately occupy up to 2,335 SF, with the ability to control up to 3,805 SF within approximately one year, and the potential to occupy the entire property over the long term. In the interim, ownership benefits from stable in-place income generated by existing tenancy. The property currently produces $21,849.47 per month ($4.45/SF), or $262,194 annually, plus $18,000 annually in CAM reimbursements, providing attractive carry while executing a repositioning or user strategy. The asset is occupied by a diverse mix of tenants including a photographer, vintage clothing shop, art collective, and fabric atelier (fabric atelier is owned, with rent paid, by Restoration Hardware).
1005 N Madison Avenue is located one block from Santa Monica Boulevard, offering immediate access to restaurants, cafés, boutiques, and neighborhood-serving retail throughout East Hollywood and Sunset Junction. The site is 0.2 miles from Los Angeles City College and benefits from convenient access to the 101 Freeway via N Vermont Avenue, approximately 0.8 miles to the south, reinforcing long-term tenant demand and user appeal.