2408-2414 S Broadway
Los Angeles, CA 90007

MAJOR PRICE ADJUSTMENT! Marcus & Millichap is pleased to present 2408-2414 S Broadway, in the South Park Neighborhood of Downtown Los Angeles. This 45,144 square foot Office and Industrial Warehouse building is located at the corner of Broadway and 24th Street. The property also occupies a 14,378 square foot highly secured parking lot bordering on the rear of the building with entry from Main Street. Being located within the Stare Enterprise Zone, the property’s parking requirements are reduced to 2/1,000 SF. The building boasts beautiful hard wood floors throughout the second floor, along with large windows allowing for ample natural light. Owner has recently made improvements to many aspects of the building including refurbishing or replacing the windows if necessary. Also internally the sprinkler system has been completely refurbished and certified, as well as major plumbing completed throughout the building. From the parking lot, there are two (2), dock high loading doors with a large cargo/freight elevator, The secured parking lot has been resurfaced with new asphalt and striped, the exterior of the windows has been repainted, as well as the sidewalks being cleaned and sealed. Additionally, the roof of the building has be reconditioned and sealed with a white Amerolastic reflective coating. The asset is approved for Creative Office, Warehouse, and Ground Retail use. Currently there are two long term teqnants occupying the lower level on month-to-month terms, along with the current owner occupying the entirety of the second level. Current Owner is willing to lease back the second floor creative office space for a 6-12 month term at fair market value. In addition, both ground floor tenants have verbally agreed to sign long term leases at fair market value, however, if desired entire building could be delivered vacant. Given the buildings location and recent Los Angeles County Cannabis Ordinance Regulations, the property’s eligibility currently falls into all categories legal for cultivation and retail use. Please see pages 16-17 for full details on the allowance. As development in Downtown Los Angeles continues to boom, we see this neighborhood is no stranger to the ever growing mixed-use opportunities the city is seeing. Just a block and a half from the massive 2.5 million square foot, REEF project, which has been renamed the Broadway Square Los Angeles, 2408-2414 S Broadway finds itself in a great position for future appreciation and even potential redevelopment. With developments like these and the University of Southern California aggressively expanding their campus and student housing facilities, this owner/user opportunity has major potential to expand right along with the city.