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Mixed-Use

7th + Spring

719 & 725 S Spring St, Los Angeles, CA 90014

Listing Price: Request For Offer

Gross SF
58,475
Rentable SF
55,344
Lot Size
0.42 acres
Year Built
1917

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to purchase 7th + Spring (the “Property”), a 0.4-acre prime adaptive reuse opportunity in the heart of Downtown Los Angeles with the opportunity to add floors by leveraging the Property's foundation which was built for a 13-story high-rise. The Property includes two adjoining buildings – 719 S. Spring Street and 725 S. Spring Street, a 5 and 3 story building consisting of artists live work lofts with ground floor retail. The artists lofts are exempt from the City of LA Rent Stabilization Ordinance.

Investment Highlights

  • Existing Improvements Poised for Renovation - The improvements of the buildings are ideal for multiple uses such as creative offices that will attract the growing base of companies migrating to DTLA
  • Rare Opportunity to Add Floors - The structural system for 725 Spring St was designed to support a 13-story building, giving investors the opportunity to build 10 more stories above the foundation.
  • The Property's existing live work artists lofts are not subject to the City of LA's Rent Stabilization Ordinance, leaving investors with tremendous rental upside potential.
  • DTLA 2040 Plan Recommended for Approval - The DLTA 2040 Plan draft has moved forward to City Council for final approval. The Plan's proposed zoning changes would allow for unlimited height, an 8.5:1 FAR, unlimited density, and no parking requirements for any adaptive reuse or redevelopment project undertaken at the Property. This zoning change would allow developers to leverage the Property's existing improvements and parking.
  • Located in the Heart of the Fashion District - The Property is in the heart of the Fashion District, Downtown LA's most exciting and desired district as confirmed by the recent opening of the Apple Tower Theatre two blocks away and other chic and pioneering hotel concepts like the Ace Hotel, Nomad, and many more. Brookfield Properties' $170M California Center redevelopment project is also set to transform the Fashion District with three new towers that will add retail, dining, and creative offic
  • The Metro Purple Line Extension Will Connect Downtown LA to the Westside - The Metro Purple Line Extension Transit Project will connect Downtown LA to the Westside, and is expected to generate about 78,000 new daily trips on the overall Metro rail system. The $9.5B project will extend the line from the Koreatown area to the VA Campus in Westwood. The full extension is expected to be completed in 2027.

Exclusively Listed By

Listing Price: Request For Offer

Gross SF
58,475
Rentable SF
55,344
Lot Size
0.42 acres
Year Built
1917

Investment Highlights

  • Existing Improvements Poised for Renovation - The improvements of the buildings are ideal for multiple uses such as creative offices that will attract the growing base of companies migrating to DTLA
  • Rare Opportunity to Add Floors - The structural system for 725 Spring St was designed to support a 13-story building, giving investors the opportunity to build 10 more stories above the foundation.
  • The Property's existing live work artists lofts are not subject to the City of LA's Rent Stabilization Ordinance, leaving investors with tremendous rental upside potential.
  • DTLA 2040 Plan Recommended for Approval - The DLTA 2040 Plan draft has moved forward to City Council for final approval. The Plan's proposed zoning changes would allow for unlimited height, an 8.5:1 FAR, unlimited density, and no parking requirements for any adaptive reuse or redevelopment project undertaken at the Property. This zoning change would allow developers to leverage the Property's existing improvements and parking.
  • Located in the Heart of the Fashion District - The Property is in the heart of the Fashion District, Downtown LA's most exciting and desired district as confirmed by the recent opening of the Apple Tower Theatre two blocks away and other chic and pioneering hotel concepts like the Ace Hotel, Nomad, and many more. Brookfield Properties' $170M California Center redevelopment project is also set to transform the Fashion District with three new towers that will add retail, dining, and creative offic
  • The Metro Purple Line Extension Will Connect Downtown LA to the Westside - The Metro Purple Line Extension Transit Project will connect Downtown LA to the Westside, and is expected to generate about 78,000 new daily trips on the overall Metro rail system. The $9.5B project will extend the line from the Koreatown area to the VA Campus in Westwood. The full extension is expected to be completed in 2027.

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to purchase 7th + Spring (the “Property”), a 0.4-acre prime adaptive reuse opportunity in the heart of Downtown Los Angeles with the opportunity to add floors by leveraging the Property's foundation which was built for a 13-story high-rise. The Property includes two adjoining buildings – 719 S. Spring Street and 725 S. Spring Street, a 5 and 3 story building consisting of artists live work lofts with ground floor retail. The artists lofts are exempt from the City of LA Rent Stabilization Ordinance.

Exclusively Listed By

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