701 W 7th St
Los Angeles, CA 90017
Owner User With Attractive SBA Financing · Multifamily Property For Sale · 80 Units

Drive by only, please contact for full offering memorandum. Attractive low down payment SBA financing may be available to well qualified buyers . Estimated down payment of $480,000. ProForma CAP Rate of 6.27%. Market lease rates for the property range between $4.00/SF/NNN (LOW) to $5.00/SF/NNN (HIGH). (The ProForma CAP Rate is Based on Leasing out the Vacant space on NNN leases. The property at 655 S Hope St boasts an advantageous location within the 80-unit residential building, 655 Hope Condos, situated in the heart of the 7th street corridor and at the epicenter of the Financial District. Positioned directly across from the Bloc, an outdoor shopping center, the site benefits from substantial foot traffic, a high daily vehicle count, and outstanding visibility at the intersection of 7th and Hope. Notably, Unit 100, strategically situated at the prominent corner of 7th and Hope, has recently been leased to Ono Hawaiian BBQ under a 10-year NNN lease. This unit features exceptional visibility from the Bloc, an enclosed patio area, and lofty ceilings. Meanwhile, Unit 101, a two-story restaurant that is currently vacant, has undergone extensive upgrades. The previous tenants invested around $2 million in capital improvements before the business closure due to the impact of COVID-19. Spanning approximately 4,500 square feet, this unit offers a prime opportunity for a new business venture. The third unit, a former Dunkin Donuts F&B, occupies approximately 535 square feet on the basement level of the metro station, presenting a compact yet potentially lucrative space for a variety of businesses.