1605 E 1st St 3,698 SF Office Building Los Angeles, CA 90033 $2,500,000 ($676.04/SF)

Kidder Mathews and The Agency have been exclusively retained to promulgate the sale of 1605 E 1st Street, a fully renovated turnkey creative office/art studio space in Downtown LA. The building offers a generous building-to-land ratio for DTLA standards, 3,698 square foot building sitting on 6,908 square feet of land. The building underwent a full remodel totaling over $700,000 recently, making it an elegant turnkey space for an Owner User. Its extensive tenant improvement facelift was completed just prior the exponential and dramatic costs of materials. The high-end renovations included: new electrical, plumbing, HVAC, roof, alarm system, skylights, ramp/handrail, electric gate, windows/doors, bathroom and light fixtures, exterior lighting, and a custom kitchen installation. The property features two private offices, a spacious conference room, a ventilated art studio, two bathrooms, storage, a 10’x10’ roll up door, and gated parking with a total of seven spaces. With its versatile layout, the subject property is ideal for a wide range of artistic Owner-Users seeking an adaptable workspace. This Buyer pool can obtain highly leveraged loans, fixed financing with 10% on SBA loans and 15% down payment with rates starting the high 5% ranges with most conventional lenders, along with lower occupancy requirements than SBA (51% or more SF occupied).