Premiere Towers 621 S Spring St 122 Unit Apartment Building For Sale Los Angeles, CA 90014

CBRE is pleased to present Premiere Towers, an exceptional multifamily investment opportunity located at 621 S. Spring Street in the heart of Downtown Los Angeles’ Historic Core. This 122-unit residential community - complemented by approximately 5,500 square feet of occupied ground-floor retail and 120 garage parking spaces - represents a compelling convergence of stabilized income, value-add potential, and irreplaceable historic provenance.
Because the property has been mapped for condominiums since 1984 and the homeowners association (HOA) has been maintained by current ownership throughout their tenure, the building is exceptionally well-positioned for an expedited condominium selloff. A buyer may pursue individual unit sales shortly after the close of escrow
without the time and expense typically associated with a traditional condominium conversion. This represents a compelling exit strategy in a market where the average sale price of condominiums in Downtown Los Angeles was approximately $756,000 from January 1, 2026 to April 28, 2026 (Source: TheMLS), with a average price per square foot of approximately $670. Given the building’s excellent unit mix, historic character, and amenity package, best-in-class individual unit pricing should be achievable at or above the submarket median. The existing condominium map and active HOA eliminate the most significant regulatory and administrative hurdles
to a selloff, creating a path to value realization that is both near-term and executable.