1605 1St St, Los Angeles, CA 90033

3,698 SF | Office Building | Los Angeles, CA 90033 | $2,500,000 ($676/SF)

For Sale

Active

21 pictures

Asking Price $2,500,000

Property Type: Office
Square Feet: 3,698 SF
Price / Square Foot: $676

Listing Contacts

Elizabeth Clark

Jacqueline Moeller

Property Overview

Kidder Mathews and The Agency have been exclusively retained to promulgate the sale of 1605 E 1st Street, a fully renovated turnkey creative office/art studio space in Downtown LA. The building offers a generous building-to-land ratio for DTLA standards, 3,698 square foot building sitting on 6,908 square feet of land. The building underwent a full remodel totaling over $700,000 recently, making it an elegant turnkey space for an Owner User. Its extensive tenant improvement facelift was completed just prior the exponential and dramatic costs of materials. The high-end renovations included: new electrical, plumbing, HVAC, roof, alarm system, skylights, ramp/handrail, electric gate, windows/doors, bathroom and light fixtures, exterior lighting, and a custom kitchen installation. The property features two private offices, a spacious conference room, a ventilated art studio, two bathrooms, storage, a 10’x10’ roll up door, and gated parking with a total of seven spaces. With its versatile layout, the subject property is ideal for a wide range of artistic Owner-Users seeking an adaptable workspace. This Buyer pool can obtain highly leveraged loans, fixed financing with 10% on SBA loans and 15% down payment with rates starting the high 5% ranges with most conventional lenders, along with lower occupancy requirements than SBA (51% or more SF occupied).

Property Details

Class: C
Year Built/Renovated: 1955/2019
Stories: 1
Property Subtype: Loft/Creative Space, Showroom, Warehouse, Office Live/Work Unit
Lot Size (sq. ft): 6,970 SF

Highlights

Rare built-out creative office studio just outside the DTLA Arts District
Corner Lot property with a secured, gated premises
Recently fully renovated with high-end upgrades and finishes
On-site gated parking lot that contains 7 parking spaces
Fully ADA compliant

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