551 S Broadway, Los Angeles, CA 90013 – 24-438857 - Chan Wathen

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$8,999,999

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35,000 SqFt

Active

551 S Broadway Los Angeles, CA 90013

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Chan Wathen

[email protected] +1(702) 461-7869

UPDATED:

09/12/2024 03:47 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 35,000 sqft

Price per Sqft $257

MLS Listing ID 24-438857

Year Built 1923

Lot Size 4,922 Sqft

Acres 0.113

Property Description

Exceptional Investment Opportunity: Historic Metropolitan/Paramount Theatre Building IN DOWNTOWN LA! Step into a piece of Los Angeles history with this iconic Metropolitan/Paramount Theatre, a grand structure built in 1923 and situated in the vibrant heart of downtown LA on Broadway. This remarkable six-story building, in addition to a full basement, stands as a testament to the architectural elegance and cultural significance of its era. Key Features: Historic Charm: Experience the timeless allure of a building that has graced Broadway for over a century. Its classic design elements offer a unique canvas for those looking to restore or reimagine a piece of LA's storied past. Prime Location: Situated in one of the most coveted areas of downtown Los Angeles, the property benefits from high visibility and easy access to the city's bustling retail, entertainment, and cultural hubs. This central location ensures a steady flow of foot traffic and vibrant surroundings. Versatile Space: The building's expansive layout spans six floors in addition to a full basement, providing a multitude of redevelopment possibilities. Whether envisioned as upscale residential lofts, dynamic retail spaces, innovative office environments, or a blend of mixed-use options, the property's flexible design is ideal for a variety of modern uses. Vacant Possession: Upon closing, the building will be delivered vacant, offering a seamless transition for development and renovation plans. This presents a rare and exciting opportunity to customize the space to fit your vision without the need for tenant negotiations. Investment Potential: As a historic gem in a rapidly evolving urban landscape, this property represents a compelling investment opportunity. The combination of its architectural heritage and prime location makes it a valuable asset for investors and developers looking to make a significant impact in downtown Los Angeles. Don't miss your chance to own a piece of LA's history and transform it into a dynamic, contemporary space. Contact me today to explore this extraordinary opportunity and imagine the possibilities that await. Youtube video link: https://www.youtube.com/watch?v=f7qMbo9bfLw&t=33s

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LAC5

Exterior

Roof Type Flat

Building

Story 7

Water District

Structure Type Concrete

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Nest Seekers

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Chan Wathen

REALTOR ® | RE.NV Lic.# S.59111

+1(702) 461-7869

551 S Broadway Los Angeles, CA 90013

Chan Wathen

Key Details

Location

Exterior

Building

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551 S Broadway