THE CAVE COMPLEX | 3364-3386 E Olympic Blvd
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THE CAVE COMPLEX 3364-3386 E Olympic Blvd
21,000 SF 100% Leased Industrial Building Los Angeles, CA 90023 $5,995,000 ($285/SF) 7.01% Cap Rate
Investment Highlights
- 100% LEASED INVESTMENT PROPERTY WITH 7% CAP RATE
- CONSISTED OF 8 DIFFERENT CREATIVE WELL-ESTABLISHED TENANTS WITH LONG TERM LEASES IN PLACE MOSTLY FILM/MEDIA PRODUCTION
- ORIGINAL REDWOOD WALLS AND HIGH BOW TRUSS CEILING
- PROPERTY IS LOCATED IN STATE ENTERPRISE ZONE AS WELL AS OPPORTUNITY ZONE
- METICULOUSLY FULLY RESTORED 1940'S BUILDINGS TO ITS ORGINIAL ART DECO STATUS
- FIVE PARCELS TIED TOGETHER, FOUR BUILDINGS (ONE DOUBLE LOT) & A PARKING LOT
Executive Summary
THINK SPACE REAL ESTATE, INC is pleased to present the opportunity as the exclusive advisor to purchase 3364 - 3386 E. Olympic Blvd, a multi-tenant creative compound consisting of five (5) parcels with one parcel being double lot, total of four (4) buildings and a parking lot, offering a well-preserved vintage 1941-1953 construction with exposed wood bow truss high ceiling, original red wood walls, polished concrete floor, large vintage rusty metal doors and windows, old preserved sliding fire doors, that fronts tremendous traffic visibility on Olympic Blvd located in the heart of trendy Boyle Heights.
This remarkable creative compound with the old charm preserved offers a wide variety of existing tenant options which include art/artist studios, set designs, ceramic/clay studios, glass art studios, TV/Film/Media production, photography studio, and architecture studio tenants. The property is located within a close distance to some of the major districts of Downtown and Southern Los Angeles such as the Fashion District, Arts District, Chinatown, Dodger Stadium and the brand-new Sears redevelopment project which will include dining hall, offices, rooftop restaurant, and more than 1,000 units of live / work spaces. There are numerous development projects in the area currently underway. The 6th Street Viaduct Replacement Project is within a mile away which is a dynamic connection between the Arts District and the Historic Boyle Heights neighborhood. “The Ribbon of Light” bridge is the largest bridge project in the history of Los Angeles costing approximately $500MM and is expected to be completed in 2022. Large amounts of local and foreign capital continue to flow into the Boyle Heights and the areas East of downtown LA turning it into one of the most dynamic and exciting neighborhoods in the country with convenient access to 4 freeways, 5, 10, 60, and 710.
This property is located in OPPORTUNITY ZONE / ECONOMIC DEVELOPMENT as well as STATE ENTERPRISE ZONE, EMPLOYMENT AND ECONOMIC INCENTIVE PROGRAM AREA (EZ).
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED
This remarkable creative compound with the old charm preserved offers a wide variety of existing tenant options which include art/artist studios, set designs, ceramic/clay studios, glass art studios, TV/Film/Media production, photography studio, and architecture studio tenants. The property is located within a close distance to some of the major districts of Downtown and Southern Los Angeles such as the Fashion District, Arts District, Chinatown, Dodger Stadium and the brand-new Sears redevelopment project which will include dining hall, offices, rooftop restaurant, and more than 1,000 units of live / work spaces. There are numerous development projects in the area currently underway. The 6th Street Viaduct Replacement Project is within a mile away which is a dynamic connection between the Arts District and the Historic Boyle Heights neighborhood. “The Ribbon of Light” bridge is the largest bridge project in the history of Los Angeles costing approximately $500MM and is expected to be completed in 2022. Large amounts of local and foreign capital continue to flow into the Boyle Heights and the areas East of downtown LA turning it into one of the most dynamic and exciting neighborhoods in the country with convenient access to 4 freeways, 5, 10, 60, and 710.
This property is located in OPPORTUNITY ZONE / ECONOMIC DEVELOPMENT as well as STATE ENTERPRISE ZONE, EMPLOYMENT AND ECONOMIC INCENTIVE PROGRAM AREA (EZ).
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED
Property Facts
Amenities
- 24 Hour Access
- Fenced Lot
- Front Loading
- Mezzanine
- Signage
- Skylights
- Storage Space
- Air Conditioning
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,819,881 | |
| Land Assessment | $2,005,010 | Total Assessment | $4,824,891 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,005,010
Improvements Assessment
$2,819,881
Total Assessment
$4,824,891
zoning
| Zoning Code | M2-1-CUGU (LIGHT INDUSTRIAL ZONE, LIGHT MANUFACTURING) |
| M2-1-CUGU (LIGHT INDUSTRIAL ZONE, LIGHT MANUFACTURING) |
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P. Nathan Bahmanyar -
THINK SPACE REAL ESTATE, INC.
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THE CAVE COMPLEX | 3364-3386 E Olympic Blvd
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