820 s spring street - loopnet...est at 820 s spring street, los angeles, ca. located in the heart of...
TRANSCRIPT
Urbanlime Real Estate is pleased to present the out-
standing opportunity to purchase the fee simple inter-
est at 820 S Spring Street, Los Angeles, CA.
Located in the heart of the Fashion District in Down-
town Los Angeles, the property consists of a 9,533
sf property on a 3,179 sf lot. The property is 100%
leased to a restaurant/ bar and 14-room boutique
hotel operator and provides additional income from
a leased rooftop billboard.
This property provides an investor with a stabilized
income property with future upside potential.
820 S Spring Street | 2
P R O P E R T Y S U M M A R Y
Address: 820 S Spring St, Los Angeles, CA, 90014
APN: 5144-016-047
Occupancy: 100% Leased
GLA: 9,533 sf
Lot Size: 3,179 sf
Year built: 1900 with complete structural upgrade
and remodel in 2016
Zoned: C2-4D
FAR: 3:1
820 S Spring Street | 3
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T U C K H O T E L / B A R G A R C I A :
Tuck Hotel is a 14-room boutique hotel located in DTLA’s fashion district. The hotel includes a ground floor
restaurant/bar, Bar Garcia, that also serves as the lobby for the hotel’s patrons. The ground floor restau-
rant and bar consists of 3,250 sf with a total capacity of 103 which include 85 seats on the interior and
two outdoor areas on Spring St and Main St allowing for an additional 18 seats. The property has a CUB
for a type 47 liquor license allowing on-site consumption of a full line of alcoholic beverages seven days
a week until 2am with live entertainment.
The Property went through a complete structural upgrade and remodel. Included in the structural work
were new steel frames, foundations, supporting roof to floor beams and shear walls. The remodel involved
extensive interior and exterior improvements to create the hotel brand and experience.
820 S Spring Street | 4
T H E N E I G H B O R H O O DThe Fashion District is the hub of LA’s fashion Indus-try with 100 blocks of independently owned busi-nesses. The district is also home to Santee Alley, LA Flower District and Fabric District.
L O S A N G E L E S S T R E E T S T R E E T S C A P EThe Fashion District is one of the only DTLA sub-markets to have undergone a major streetscape initiative. Los Angeles Street has been recently transformed with all new crosswalks, foliage and pedestrian bump outs.
D E V E L O P M E N T In the last 4 years, the Fashion District has seen a dramatic increase in development. A Slew of new mixed use and adaptive reuse projects are brin-ing new amenitites to the area. There are 2,100 residential units in the area with 809 under con-struction. By 2019, the district is expected to have double the residents and an estimated 5,000 units.
H O T E L S : The Ace Hotel in 2014 was a catalyst for the arriv-al of the boutique hotels in the area. Aside from the Tuck Hotel, there are 4 new hotels announced in the area; the Hoxton, The Proper, South Mart Hotel and the new City Market proposed hotel.
O F F I C E :In the next two years, the Fashion District is expect-ed to add 347,000 sf of creative office space and approximately 510,000 sf of new retail.
6 | 820 S Spring Street
BAR / RESTAURANTS
1. Pattern Bar
2. Poppy & Rose
3. Preux & Proper
4. Peking Tavern
5. Cranes Downtown Bar
6 Broadway Bar
7. Sonora Town
8. Terroni
9. La Tropezienne
10. 1810
11. Wild Living Foods
12. Wendell
13. Little Damage
14. The Stocking Frame
15. LA Biergarten
16. Bronzed Aussie
17. Nabeeya
18. Pattern Bar
RETAIL / COWORK
1. Skin Graft
2. Nice Kicks
3. Urban Outfitters
4. Pop Obscure Records
5. Theory
6. A.L.C.
7. H. Merrick of California
HOTEL
1. Ace Hotel
2. Tuck Hotel
3. Hoxton Hotel
4. Proper Hotel
DESIGN CENTERS
1. Cooper Design Center
2. California Market Center
3. The New Mart
8. Michael Costello
9. Avenue of the Arts Gallery
10. Escape Room LA
11. Tanner Goods
12. The Park Coworking
Around Town
As a part of its renaissance, the LA fashion district is thriving,with new construction and developmentas its centerpiece. Adaptive reuse conversions of historic buildings have made wayfor over 1,000 residential units in the district, bringing a newdimension to this Los Angeles hib. Residents of downtown’s newest neighborhood get to experiencefirst-hand the vitality, creativity, and diversity that is the LA fashion disrict.
www.urbanlimere.com
COFFEE BARS
1. Verve
2. Co�ee Colab
3. Il Café
4. Starbucks
THEATRES
1. Orpheum Theatre
2. Globe Theatre
3 United Artists Theatre
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13. Neihule Salon
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Amenity Map - Fashion District
7 | 820 S Spring Street
8 | 820 S Spring Street
1. Norton Building2. Former Dearden’s Building3. Fashion District Residences4. City Market5. Southern California Flower Market6. Main Street Park & Mixed-Use Project7. Mart South Hotel8. 823 S. Los Angeles St.9. The Western Pacific10. Greyco Building11. Spring Street Towers12. Hoxton Hotel13. Proper Hotel DTLA14. California Market Center15. 939 S. Broadway16. Broadway Lofts17. Southern California Gas Building18. Flor 40119. Six Four Nine Lofts20. 1320 S. Main St.21. Ace Hotel DTLA22. City Market South23. Broadway Palace24. Harris Building25. The Max Lofts26. Grether & Grether Lofts27. Downtown Executive Complex28. Garment Lofts29. Tuck Hotel
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Lorena TombPrincipal
P: 213.277.7247 x [email protected]
BRE# 01894475Disclaimer: This information has been secured from sources we believe to be reliable, however we make no representation or warranties as to the accuracy of the information.
References to square footage or age are approximate.