OFFERING PRICE: $8,750,000
APN: 4282-029-0091
BUILDING SIZE: ± 16,045 SF
LOT SIZE: ± 14,243
NUMBER OF STORIES: 1 1/2 Stories
PROPERTY TYPE: Creative Office
YEAR BUILT: 1959
YEAR RENOVATED: 2017
ZONING: MUBL -Mixed Use Boulevard Low
CURRENT TENANT: IPSY (Lease expires January 31, 2029. Tenant has two (2) Options to Extend)
PARKING: 22 Spaces with Ample Street Parking

EXECUTIVE SUMMARY

Lee & Associates Los Angeles West, Inc. is pleased to bring to market 903 Colorado Avenue. This fully leased investment opportunity consists of a 16,045 SF standalone creative office building on a 14,243 SF lot. For the past 8 years, Ipsy, a leader in the market of beauty product subscription services, has occupied the building as its main hub. The newly renewed lease is set to expire on January 30, 2029, with a 2 year, a 2-month fixed extension that has an outside notice date of October 31, 2026. In addition, Ipsy has an additional five-year renewal option at market rates as determined by the parties. Originally built in 1959 and extensively renovated into creative office space in 2017, the property boasts an industrial-modernist design. The bright and airy interior features steel windows, skylights, exposed wood ceilings, and polished concrete floors. The layout combines open spaces with enclosed rooms. The HVAC system comprises package units across various zones, allowing efficient airflow control. Additionally, there is a beautiful two-story entry, a handicap elevator to the partial second floor, and a high bay area which allows for a multitude of uses. Positioned as a creative office space in Santa Monica, one of Los Angeles’ most sought-after locations, this property benefits from its proximity to major tech and media employers. The potential for stable investment, along with its close access to public transit and freeways, as well as premier Santa Monica amenities, dining, and nightlife, make 903 Colorado a compelling long-term investment opportunity in one of the most supply-constrained markets in the United States.