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Hotel-Motel

Historic Continental Building and Hotel Conversion

408 S Spring St, Los Angeles, CA 90013

Listing Price: Request For Offer

Number of Rooms
172
RevPAR
$1
Gross SF
90,950
Year Built
1904

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Historic Continental Building and Hotel Conversion, currently a 13-floor apartment building located in the heart of Historic Downtown Los Angeles. The building's 56 apartment units will be converted into a luxury 172-room, 4-4.5 star boutique hotel with a rooftop bar, ground floor restaurant and basement lounge. The Historic Continental Building is the tallest building in DTLA's historic core, with 270-degree views that will never be blocked due to zoning overlay. The property is ideally located in the Old Bank District within Historic Downtown Los Angeles. Los Angeles is recognized as the entertainment capital of the world. World-renowned attractions including Walt Disney Concert Hall, LA Live, Dodger Stadium, Grand Central Market and The Broad are all located within two miles of the property. Additionally, Los Angeles International Airport (LAX), one of the busiest airports in the world, is located only 15 miles from the property. The Los Angeles MSA is recognized as an economic center, as well as a leading international trade and manufacturing center. The Ports of Los Angeles and Long beach are the largest and busiest ports in the nation. Its placement near the ocean and its desirable climate continue to draw companies and residents to the metro. The Historic Continental Building and Hotel Conversion represents the unique opportunity to acquire a historic building in one of the most desirable markets in the nation and convert it to a luxury hotel. Our Pro Forma analysis assumes market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the Los Angeles region. Permits for the conversion as well as tax credits are approved. The tax credits, permits, conversion plans and construction quotes are included in the due diligence portal. Please see agent for access and details.

Investment Highlights

  • Unique Opportunity to Convert the Historic Continental Building to a Luxury Boutique Hotel with Marriott, Hilton or Hyatt Franchise Affiliation Benefits
  • The Historic Continental Building is the Tallest Building in DTLA's Historic Core, with 270-Degree Views that will Never be Blocked Due to Zoning Overlay
  • Located in Downtown Los Angeles, the Epicenter of Business and Tourism in Southern California
  • Los Angeles Welcomed 50 Million Visitors in 2019 and will Host the 2028 Olympics
  • Minutes to World-Renowned Attractions, Major Employers, Accredited Educational Institutions and Award-Winning Healthcare

Exclusively Listed By

Hotel-Motel

Historic Continental Building and Hotel Conversion

Listing Price: Request For Offer

Number of Rooms
172
RevPAR
$1
Gross SF
90,950
Year Built
1904

Investment Highlights

  • Unique Opportunity to Convert the Historic Continental Building to a Luxury Boutique Hotel with Marriott, Hilton or Hyatt Franchise Affiliation Benefits
  • The Historic Continental Building is the Tallest Building in DTLA's Historic Core, with 270-Degree Views that will Never be Blocked Due to Zoning Overlay
  • Located in Downtown Los Angeles, the Epicenter of Business and Tourism in Southern California
  • Los Angeles Welcomed 50 Million Visitors in 2019 and will Host the 2028 Olympics
  • Minutes to World-Renowned Attractions, Major Employers, Accredited Educational Institutions and Award-Winning Healthcare

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Historic Continental Building and Hotel Conversion, currently a 13-floor apartment building located in the heart of Historic Downtown Los Angeles. The building's 56 apartment units will be converted into a luxury 172-room, 4-4.5 star boutique hotel with a rooftop bar, ground floor restaurant and basement lounge. The Historic Continental Building is the tallest building in DTLA's historic core, with 270-degree views that will never be blocked due to zoning overlay. The property is ideally located in the Old Bank District within Historic Downtown Los Angeles. Los Angeles is recognized as the entertainment capital of the world. World-renowned attractions including Walt Disney Concert Hall, LA Live, Dodger Stadium, Grand Central Market and The Broad are all located within two miles of the property. Additionally, Los Angeles International Airport (LAX), one of the busiest airports in the world, is located only 15 miles from the property. The Los Angeles MSA is recognized as an economic center, as well as a leading international trade and manufacturing center. The Ports of Los Angeles and Long beach are the largest and busiest ports in the nation. Its placement near the ocean and its desirable climate continue to draw companies and residents to the metro. The Historic Continental Building and Hotel Conversion represents the unique opportunity to acquire a historic building in one of the most desirable markets in the nation and convert it to a luxury hotel. Our Pro Forma analysis assumes market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the Los Angeles region. Permits for the conversion as well as tax credits are approved. The tax credits, permits, conversion plans and construction quotes are included in the due diligence portal. Please see agent for access and details.

Exclusively Listed By

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