551 S Broadway Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90013
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 35,000 sqft
Price per Sqft $257
MLS Listing ID 24-438857
Year Built 1923
Lot Size 4,922 Sqft
Acres 0.113
Property Description
Exceptional Investment Opportunity: Historic Metropolitan/Paramount Theatre Building IN DOWNTOWN LA! Step into a piece of Los Angeles history with this iconic Metropolitan/Paramount Theatre, a grand structure built in 1923 and situated in the vibrant heart of downtown LA on Broadway. This remarkable six-story building, in addition to a full basement, stands as a testament to the architectural elegance and cultural significance of its era. Key Features: Historic Charm: Experience the timeless allure of a building that has graced Broadway for over a century. Its classic design elements offer a unique canvas for those looking to restore or reimagine a piece of LA's storied past. Prime Location: Situated in one of the most coveted areas of downtown Los Angeles, the property benefits from high visibility and easy access to the city's bustling retail, entertainment, and cultural hubs. This central location ensures a steady flow of foot traffic and vibrant surroundings. Versatile Space: The building's expansive layout spans six floors in addition to a full basement, providing a multitude of redevelopment possibilities. Whether envisioned as upscale residential lofts, dynamic retail spaces, innovative office environments, or a blend of mixed-use options, the property's flexible design is ideal for a variety of modern uses. Vacant Possession: Upon closing, the building will be delivered vacant, offering a seamless transition for development and renovation plans. This presents a rare and exciting opportunity to customize the space to fit your vision without the need for tenant negotiations. Investment Potential: As a historic gem in a rapidly evolving urban landscape, this property represents a compelling investment opportunity. The combination of its architectural heritage and prime location makes it a valuable asset for investors and developers looking to make a significant impact in downtown Los Angeles. Don't miss your chance to own a piece of LA's history and transform it into a dynamic, contemporary space. Contact me today to explore this extraordinary opportunity and imagine the possibilities that await. Youtube video link: https://www.youtube.com/watch?v=f7qMbo9bfLw&t=33s
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAC5
Exterior
Roof Type Flat
Building
Story 7
Water District
Structure Type Concrete
Others
Special Listing Condition Standard