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615 E 61st St

59,689 SF 50% Leased Flex Building Los Angeles, CA 90001 $10,250,000 ($172/SF) 6.95% Cap Rate

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Investment Highlights

Extensive Capital Improvements
Heavy Power - 1,400a/240v 3p 3w | 4,000 Amp Upgrade Pending
Ideal for Creative Office, Fashion, Entertainment, Technology, or Storage

2019 Clean Phase 1
Zoned M2 - Cannabis Eligible*
Highly Improved On-Site Cannabis Dispensary

Executive Summary

615-633 E 61st Street, is in the Goodyear Tract Neighborhood of South Downtown Los Angeles. This 59,689 square foot Mixed-Use Industrial property is located at the corner of Avalon and 61st Street and boasts a large, gated parking lot holding 81 spaces; including 3 handicap, 3 covered, and 13 tandem spaces, with additional parking available outside the fenced perimeter. Being located within State Enterprise and Federal Opportunity Zones, the property’s parking requirements are reduced to 2/1,000 square feet, therefore offering the opportunity to house a multitude of approved uses.

Property Facts In Escrow

Price	$10,250,000	Rentable Building Area	59,689 SF
Price Per SF	$172	No. Stories	3
Sale Type	Investment or Owner User	Year Built	1927
Cap Rate	6.95%	Parking Ratio	1.91/1,000 SF
Property Type	Flex	Clear Ceiling Height	18 FT
Property Subtype	Light Manufacturing General Retail Freestanding Industrial Warehouse OfficeLoft Creative Space	No. Dock-High Doors/Loading	4
Building Class	C	No. Drive In / Grade-Level Doors	1
Lot Size	1.36 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$10,250,000
Price Per SF	$172
Sale Type	Investment or Owner User
Cap Rate	6.95%
Property Type	Flex
Property Subtype	Light Manufacturing General Retail Freestanding Industrial Warehouse OfficeLoft Creative Space
Building Class	C
Lot Size	1.36 AC
Rentable Building Area	59,689 SF
No. Stories	3
Year Built	1927
Parking Ratio	1.91/1,000 SF
Clear Ceiling Height	18 FT
No. Dock-High Doors/Loading	4
No. Drive In / Grade-Level Doors	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.