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949 E 2nd St 36,848 SF 4-Star Office Building Los Angeles, CA 90012 $18,975,000 ($514.95/SF)
INVESTMENT HIGHLIGHTS
- Highly Walkable Arts District Location
- Surrounded by Top Dining, Retail & Culture (Hauser & Wirth)
- Ideal for Development - Two Street Frontage & Corner Parcel
- Two Securely Fenced Surface Lots
- New Construction with Heavy Power
- Adjacent to LA Metro & Union Station
EXECUTIVE SUMMARY
949 E 2nd St (the “Property”) provides a compelling opportunity to acquire one of the newest, boutique office buildings in the heart of Los Angeles’ Arts District. Situated on ±1.14 acres with extensive surface parking, the location is the private campus for a Daily Journal Corporation subsidiary since its custom construction in 2003 and can be delivered vacant at the close of escrow. Totaling ±36,848 square feet, the Property features modern concrete tilt-up construction, open floorplans, secure 2 per 1,000 parking and long-term development optionality within a qualified opportunity zone. The Property’s location at Second Street and Santa Fe Avenue offers an “authentic” walkable experience that is surrounded by some of the city’s most popular restaurants, shops, and art galleries.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
36,848 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2003
Price
$18,975,000
Price Per SF
$514.95
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
18,424 SF
Slab To Slab
14’
Building FAR
0.74
Lot Size
1.14 AC
Opportunity Zone
Yes
Zoning
M3-1 - Located in an Qualified Opportunity Zone (OZ)
Parking
77 Spaces (2.09 Spaces per 1,000 SF Leased)
AMENITIES
- Atrium
- Controlled Access
- Fenced Lot
- Metro/Subway
- Storage Space
- Central Heating
- High Ceilings
- Partitioned Offices
- Air Conditioning
Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (92)
PROPERTY TAXES
| Parcel Number | 5163-005-018 | Improvements Assessment | $4,394,763 |
| Land Assessment | $1,375,616 | Total Assessment | $5,770,379 |
PROPERTY TAXES
Parcel Number
5163-005-018
Land Assessment
$1,375,616
Improvements Assessment
$4,394,763
Total Assessment
$5,770,379
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949 E 2nd St
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