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354 S Spring Street - Banco Popular / Herman W. Hellman Building, Los Angeles, CA

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354 S Spring Street - Banco Popular / Herman W. Hellman Building

Los Angeles, CA 90013-1239 - Downtown Los Angeles MF Submarket

Property Type:Multi-Family Number of Units:188 Status:Under Construction Year Built:2017
Stories:10 Building Size:215,695 SF Land Area:.69 AC (29,956 SF)
For Sale Price:For Sale Price/Unit:- Cap Rate:- GRM:-


Sale Notes:

Investment Highlights
Exquisite 215,695 square-foot, 10-story adaptive reuse opportunity in the heart of Downtown Los Angeles.
In-place permits for immediate construction of 188 residential units, expansion of second floor mezzanine, expansion of 10th floor, and construction of 11th floor and rooftop amenity deck.
Potential conversion to 453-key boutique hotel.
Infrastructure in place for conversion to ±190,000 square feet of creative office.
Master conditional use permit with three type 47 and one type 48 licenses for liquor sales.
Iconic early 1900’s architecture with Italian marble lobbies, wrought iron staircases and expansive windows.
20-foot ceilings on ground floor and 16,136 square feet of commercial space.
100-car parking in subterranean garage.
Federal Historic Rehabilitation and Mills Act tax incentives are available.

Kennedy-Wilson Properties, Ltd.
Michael Puleo
(310) 887-3432

Justin Weiss
(213) 538-8631

Fred B Cordova

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