DOWNTOWN LOS ANGELES ARTS DISTRICT 2018 E. 8 TH STREET, LOS ANGELES, CA INVESTMENT / OWNER-USER OPPORTUNITY MARKETING BROCHURE WWW.LAREALTYPARTNERS.COM
PROPERTY SUMMARY PROPERTY OVERVIEW 2017 E. 8TH STREET ( Property ) is a an existing warehouse building of approximately 23,486 rentable square feet, located in the Arts District area of Downtown Los Angeles, home to some of the top creative companies in Los Angeles, with world-class amenities, restaurants and specialty cafes. This area is seeing interest from a large concentration of tenancy in media, technology, culinary, architecture and creative companies. The Property is situated on approximately 1.32 acres of land. The Property is owner-occupied, and provides an excellent opportunity an investment or to upgrade to a creative build-out to achieve market rental rates. The Property is prominently located at the corner of 8th Street and Lawrence Street. Immediately across the street from the LA Times facility. This area is rich in entertainment, digital and print media, E-commerce, advertising, transportation and other technology firms. SITE DESCRIPTION LOCATION: Located within the Arts District area of Downtown LA ADDRESS: 2017 E. 8th Street, Los Angeles, CA 90021 ACCESS: Vehicular access via Lawrence Street currently, however there is already an existing curb exit on 8th Street with an existing gate ZONING: M3-1-RIO (creative office permitted by right, can build up to 85,000 SF structure; buyer to verify) APN: Four parcels: 5156-029-028, 5166-029-029, 5166-029-032 and 5166-029-034 LOT SIZE: ±1.32 acres (57,613 square feet) YEAR BUILT: 1993
PROPERTY AERIAL LAWRENCE ST. I-10 FREEWAY E. 8TH ST.
FLOOR PLAN / PROJECT PHOTOS FLOOR PLAN LAWRENCE STREET 8TH STREET
ZONING & LAND USE OVERVIEW SUBJECT SITE INFORMATION The subject site is rectangular-shaped and consists of 22 lots at the northeast corner of S. Lawrence Street and E. 8th Street, including two lots comprised of a vacated alley with frontage on S. Lawrence Street. The vacated alley runs north of the subject site, measuring 15 feet wide and is gated at the S. Lawrence Street frontage2. These lots comprise four separate tax parcels, including APN 5166-029-028, 5166-029-29, 5166-029-032, and 5166-029-034, with a total lot area of approximately 57,613.6 square feet. The subject site is located in Council District 14 (represented by Councilmember Jose Huizar) and is within the Downtown Los Angeles Neighborhood Council area. It is also located in the Central City Revitalization Zone, and the East Los Angeles State Enterprise Zone. (Please refer to Exhibit A for provisions relating to the Central City Revitalization Zone and the East Los Angeles State Enterprise Zone). The subject site is located in the Central City North Community Plan area and is within the M3-1-RIO Zone. All of the lots comprising the subject site have a General Plan Land Use designation of Heavy Manufacturing. The M3 Zone is a heavy industrial zone that allows for the highest intensity of industrial uses, including various manufacturing uses (including alcohol, concrete, and asphalt), freight yards, mills, and fabrication plants. Residential uses with either dwelling units or guest rooms are prohibited in the M3 Zone3. The -1 designation refers to the applicable Height District, which restricts the maximum floor area ratio (FAR) to 1.5:1 (one and one-half times the buildable area of the lot). The RIO designation refers to the recently approved River Improvement Overlay, which imposes new guidelines for properties within 2,500 feet of the Los Angeles River. The subject site is approximately 2,900 feet from the River (exact distance to be confirmed). Based on a total lot area of 57,613.6 square feet, the maximum allowable FAR in the M3-1-RIO Zone the subject site has the by-right 4 potential to be developed with up to approximately 86,420.4 square feet of floor area. The existing building at the subject site is approximately 23,486.0 square feet, based on Assessor s information accessed through ZIMAS.
2018 E. 8 TH STREET LOS ANGELES, CALIFORNIA EXCLUSIVE ADVISORS: CHRIS HOUGE PRINCIPAL (310) 407-3415 CHOUGE@LAREALTYPARTNERS.COM OWEN FILETI SENIOR EXECUTIVE DIRECTOR (310) 407-3409 OFILETI@LAREALTYPARTNERS.COM 2029 CENTURY PARK EAST y SUITE 515 y LOS ANGELES, CA 90067 www.larealtypartners.com 2018 L.A. Realty Partners. DRE Lic. #01434161. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.