1035 Grand AveLos Angeles, CA 90015

Property Details for 1035 Grand Ave

Year built

1920

Construction

TILT-UP CONCRETE

Lot size

0.18 AC

Property size (Sq ft)

21,000 SF

Zone code

LAR5

Property type

Office buildings

APN

5139-008-018

APU

5139008018

Description

This exceptional 28,000-square-foot creative office building in Los Angeles' South Park neighborhood presents a unique investment opportunity. The three-story, Class B building, constructed in 1920, boasts desirable features including high ceilings, exposed brick, large windows, and an open floor plan. The property sits on a ±7,659 square foot lot (APN 5139-008-018) and is zoned LAR5. The building offers approximately 21,000 square feet of office space, plus a 7,000-square-foot basement. The first floor is currently occupied by a tenant with a lease expiring January 2023, who may be willing to renew. The second and third floors, along with the basement, will be delivered vacant at the close of escrow. Four on-site surface parking spaces are available, with additional parking options within a one-block radius. Its prime location offers close proximity to numerous South Park and LA Live amenities and new developments, and is just three blocks from the 7th Street Metro station, providing convenient access to the Expo, Red, and Blue lines. This Energy Star certified property is priced at $9,350,000, translating to $333.93 per square foot. The building is ideal for owner-users seeking a vibrant, centrally located space with character and potential.

• CAP approach

  CAP return

  Valuation

  6%

  $6,194,101

  6.5%

  $5,717,632

  7%

  $5,309,230

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,993,360

  Geo Method

  $3,993,360

• Alternative Use

  Use

  Valuation

  Residential

  $7,089,864

  Hospitality

  $6,494,277

  Educational

  $5,403,162

  Medical

  $5,588,985

  Retail

  $8,404,919

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0423

Longitude

-118.262

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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