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916 Georgia Street
Los Angeles, CA 90015


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Property Remarks

916 Georgia St, located in the South Park District of Downtown Los Angeles, directly across from LA Live and surrounded by several development projects including the Wilshire Grand Central, which will be the tallest building West of the Mississippi. The property was built in 1912 with a unit mix consisting of (21) singles, (3) bachelors, and (8) two bedroom units. Additionally, the property sits on a 7,525 Sq. Ft. lot with an existing C2 zoning, allowing for a Floor Area Ratio of 6:1 which can be increased up to 13:1 with the transfer of Floor Area.The investment is ideal for redevelopment because of its exceptional location and favorable zoning allowance, or as a value-add opportunity by capitalizing on the property's tremendous upside.

Property Details

MLS#
17213692
Days on Market
120
Year Built
1912
Stories
3
Building/Living Area (sq ft)
18,132
Source of SqFt
Vendor Enhanced
Source of Lot Size
Other

Location

State
CA
County
Los Angeles
Area
Downtown L.A. (C42)

Presented By:

Jennifer Chan
Pasadena CalBRE# 01780218 626.991.1132 mobile Contact Me Visit My Website

Listing provided courtesy of Guillermo Ma , Concord Real Estate Service


Exterior

Lot Acreage
0
Paved
No
Waterfront
No


Interior

Interior Features
Other

Additional Property Details

Number of Units
32
Number of Buildings
1
Gross Operating Income
$382,113
Total Expense
$201,545
ADA Compliance
No

AC/Cooling
Other
Heating
Central Furnace

Downtown Los Angeles

The heart of the city, Downtown L.A. is dominated by skyscrapers, and a bustling urban core. Downtown, or as it is sometimes known, DTLA, is alive with hot restaurants, hip hotels, and nightlife that makes downtown a great place to live and play.

Real Estate: Lofts, condos and apartments for sale are prevalent in Downtown Los Angeles. Downtown Los Angeles is divided into several different areas including the Historic Core and the Fashion District. The Broadway area has been revitalized with many new condos and lofts being created in older buildings and new development underway. The area near L.A. Live and the Staples Center is particularly trendy.

Community Life: Downtown Los Angeles now boasts over 500 restaurants and has a burgeoning nightlife scene. Many people come to downtown to see a concert at Disney Hall or professional sports at Staples Center and the L.A. Convention Center plays home to a variety of events from art and design shows to conferences drawing businesspeople from around the world. Grand Central Market offers booths full of some of the most delicious food in the city.

Education: Downtown Los Angeles is served by the Los Angeles Unified School District. Local schools include the Ramon C. Cortines School of Visual and Performing Arts, Downtown Business High School, California Academy for Liberal Studies Early College High School, Para Los Niños Middle School, and others. Private schools include Saint Malachy Catholic Elementary School and American University Preparatory School. The Fashion Institute of Design & Merchandising is located downtown as is the Colburn School for music and the performing arts.

Transportation: Downtown is the hub of the rail transit system with six commuter lines, two subway lines, three light rail lines and many Metro bus routes passing through the city. Union Station is the main railway center and a historic landmark in the city.

Local Attractions:  From the city’s early beginnings on Olvera Street to new construction including the Broad Museum and the Wilshire Grand Tower there is a lot to see downtown. Popular draws include the Angels Flight staircase, Pershing Square with its own ice rink, the Bradbury Building, and the Los Angeles Public Library. 

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