EAST 7 TH STREET FOR SALE

Transcription

1 801 EAST 7 TH STREET FOR SALE G I L L B U R N S Y O O

2 EXECUTIVE SUMMARY 801 East 7th Street presents a remarkable opportunity to acquire a permit-ready conversion project in booming Downtown Los Angeles. The campus sits on half a city block and is comprised of a sizable 4-story mixed-use building, a smaller brick building, and a large parking/loading area. It s permitted for 98 market-rate residential and creative units with no affordable component. The site is excellently-positioned to continue evolving along with Downtown - on the 7th Street Corridor with 3-street frontage, and within sight of the ROW DTLA, Arts District, and Historic Core. With monthto-month income currently in place, there is tremendous upside potential to transform the property into a promising long-term investment.

3 801 EAST 7 TH STREET CENTER OF DOWNTOWN LA CENTRAL BUSINESS DISTRICT HISTORIC CORE LITTLE TOKYO SOUTH PARK FASHION DISTRICT ARTS DISTRICT

4 { PROPERTY HIGHLIGHTS} Permitted plans for 98 market-rate residential and creative units (no affordable component) 4-Story, poured-in-place concrete construction with workable floor plates At the center of Downtown Los Angeles on 7th Street (a major connector in DTLA) Campus spanning half a city block with 3-street frontage No Change of Use or Site Plan Review required Large secure fenced yard area for parking and loading Rental income in place with all month-to-month leases Within a few blocks of the ROW DTLA, the Arts District, and Historic Core

5 STANFORD AVENUE EAST 7 TH STREET TOWNE AVENUE

6 { FUNDAMENTALS } ± TOTAL BUILDINGS 143,655 SF ± LAND SIZE 68,101 SF YEAR BUILT 1925 CONSTRUCTION POURED-IN-PLACE CONCRETE & BRICK ZONING M2-2D PERMITTED FOR 98 UNITS 69 RESIDENTIAL 29 COMMERCIAL

7 { SITE PLAN} TOWNE AVENUE GL GATE EAST 7 TH STREET 4 - STORY BUILDING ELEVATOR 1 - STORY BRICK BLDG ELEVATOR EXTERIOR COVERED DOCK 15' CLEAR SKYLIGHTS BOW TRUSS ROOF GL 9 DH POSITIONS GL PARKING & LOADING PARKING METAL CANOPY (NOT INCLUDED IN TOTAL SF) INTERIOR DOCK 3 DH POSITIONS GATE GATE N STANFORD AVENUE

8 { PARCEL MAP}

9 801 EAST 7 TH STREET

10 DTLA DOWNTOWN LA IS BOOMING Downtown Los Angeles is one of the hottest development markets in the country. This boom is fueled by a number of factors, including the influx of high-income residents flocking to the amenities an urban lifestyle provides. Downtown is home to many award-winning restaurants, numerous entertainment and performing arts venues, a powerful business district, some of the world s finest sports franchises, and a growing number of stunning art museums. Propelled by foreign and institutional investment, the city s renaissance (which began in the mid-1990s) continues to accelerate. The downtown population continues to grow, is highly educated, affluent, and employed at levels that exceed city and county averages, according to the DCBID Downtown LA demographic study. From the Historic Core/Old Bank District and Broadway, to Bunker Hill and the Financial District, to South Park and the Fashion District, Downtown LA compacts a world of goods, services, and experiences into an efficient urban cluster. $27.1+ BILLION TOTAL INVESTMENT IN DOWNTOWN LA FROM

11 DTLA 2040 BY THE YEAR 2040, DOWNTOWN WILL ADD APPROXIMATELY: +125, , ,000 RESIDENTS HOUSING UNITS JOBS DOWNTOWN LA HASN T SEEN THIS MUCH CONSTRUCTION SINCE THE 1920 S Downtown Los Angeles is undergoing its largest construction boom in modern times an explosion juiced by foreign investment that s adding thousands of residences, construction jobs, and a multitude of shops and restaurants. LA Times, 1/8/17 METRO POTENTIAL 7 TH & ALAMEDA METRO STATION The West Santa Ana Branch (WSAB) Transit Corridor Project is a new 20-mile light rail transit line that will break ground in Currently in the planning and research stages, Metro is considering different routes through Downtown Los Angeles. It s very likely 7th & Alameda will soon become an important station for the residents of DTLA and all of Los Angeles. 7 TH /ALAMEDA

12 HISTORIC CORE GRAND 801 EAST 7TH STREET 7 T H S T R E E Corridor DTLA T 1 GRAND LOS ANGELES EAST 7TH STREET CENTRAL ALAMEDA CENTRAL 2 3 ALAMEDA SANTA FE ARTS DISTRICT BOTTEGA LOUIE SMORGASBURG LA THE ROW DTLA ER BAR WALNUT GROWERS AMP LOFTS FORD FACTORY 670 MESQUIT

13 CHINATOWN CIVIC CENTER D I S T R I C T S O F D O W N T O W N L O S A N G E L E S CENTRAL BUSINESS DISTRICT HISTORIC CORE LITTLE TOKYO LOS ANGELES RIVER SOUTH PARK ARTS DISTRICT FASHION DISTRICT 801 EAST 7 TH STREET

14 { PERMIT-READY } CONVERSION OPPORTUNITY

15 { } PERMITTED ELEVATIONS 4-STORY BUILDING

16 { } PERMITTED FLOOR PLANS 4-STORY BUILDING - FIRST FLOOR

17 { } PERMITTED FLOOR PLANS 4-STORY BUILDING - SECOND FLOOR

18 { } PERMITTED FLOOR PLANS 4-STORY BUILDING - THIRD FLOOR

19 { } PERMITTED FLOOR PLANS 4-STORY BUILDING - FOURTH FLOOR

20 { } PERMITTED ELEVATIONS 1-STORY BRICK BUILDING

21 { } PERMITTED FLOOR PLAN 1-STORY BRICK BUILDING

22 BRANDON GILL Executive Director CA LIC BRANDON BURNS Executive Director CA LIC JAE YOO Executive Director CA LIC Cushman & Wakefield NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). AS APPLICABLE, WE MAKE NO REPRESENTATION AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) IN QUESTION.