2525 Washington BlvdLos Angeles, CA 90018

Property Details for 2525 Washington Blvd

Year built

1907

Property size (Sq ft)

13,300 SF

Property type

Office properties

Property subtype

Other retail properties

Description

This exceptional Los Angeles investment opportunity presents a fully renovated, two-building creative office complex at 2523-2525 W Washington Blvd, totaling 13,300 square feet on an 11,890 square foot lot. Built in 1907 and extensively renovated in 2016, the property boasts eight units currently 75% occupied, generating a current NOI of $156,390 and a pro-forma NOI of $264,089, representing a 3.53% cap rate and a 5.97% pro-forma cap rate respectively. The asking price is $4,425,000 ($333/sq ft), with a land value of $372/sq ft. The property features modern contemporary loft spaces with exposed brick, high ceilings, skylights, and wooden bow trusses. Interior parking accommodates 6-8 vehicles. The unique layout includes a western portion with higher ceilings (16'4" to beams, 23'4" to truss top) and mezzanines, while the eastern portion offers ceilings ranging from 11' to 12'3". All existing leases are short-term (month-to-month or expiring this year, the latest by 10/31/24), offering a potential owner-user the flexibility to occupy the entire space or a portion upon closing. Utilities are separately metered (electricity) or master-metered (water). The property is zoned LACM. This is a rare opportunity to acquire a well-located, high-potential creative office property in a thriving Los Angeles market.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0402

Longitude

-118.319

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