424 S Broadway - Restaurant FOR SALE


Los Angeles, CA 90013- Historic Downtown LA
$17,500,000 USD
310-940-8749
424 S Broadway, Los Angeles, CA for Sale
$17,500,000 USD
Restaurant - FOR SALE
1/34
null | 5.92% Cap Rate

424 S Broadway
Los Angeles, CA 90013
Historic Downtown LA


HIGHLIGHTS

  • 60-unit market-rate Beaux-Arts complex in the Broadway Theatre District of Downtown Los Angeles.
  • The property is NOT subject to local LA rent control, allowing for annual rent increases of 5% + CPI (approx. 8.9%).
  • In 2006, The Judson underwent an $11 million restoration and renovation led by distinguished architectural firm - David Gray Architects.
  • Priced to sell at $291,667 per unit, $235 per foot, 5.92% CAP and 10.52 GRM on current rents.
  • Parking rights in the CRA's 24-hour controlled parking structure (333 S. Spring St) - 60 parking spaces at market rent for 50 years w/ 2 extensions.
  • Renovation included new electrical, mechanical, and plumbing systems; upgraded seismic retrofitting, air conditioning on all floors, and so much more.

OVERVIEW

A rare investment opportunity in the heart of Downtown LA's Broadway Theatre District, The Judson is a fully restored 60-unit Beaux-Arts apartment complex offering historic charm with modern convenience. Unlike most DTLA properties, The Judson is NOT subject to local rent control, allowing for annual rent increases of 5% + CPI (currently 8.9%). Additionally, as a Mills Act property, it benefits from significant tax savings of approximately 50% annually. In 2006, the building underwent an $11 million renovation led by David Gray Architects, preserving its stunning Beaux-Arts design while modernizing interiors and infrastructure. The Judson consists entirely of market-rate, turnkey units, featuring high ceilings, polished concrete floors, stainless steel appliances, Caesarstone countertops, Italian cabinetry, recessed lighting, and oversized soaking tubs. Select units offer exposed brick, balconies, and city views. Amenities include a controlled-access lobby, two elevators, a skylight stairway, a recreation room, a gym, private storage, and a rooftop sundeck with a spa, BBQ area, and breathtaking LA skyline views. Parking is secured through a long-term agreement with the California Redevelopment Agency, providing 60 dedicated spaces at 333 S. Spring St. A recognized Historic-Cultural Monument and listed on the National Register of Historic Places, The Judson is surrounded by DTLA's finest restaurants, retail, and entertainment, making it an unparalleled investment opportunity in one of LA's most vibrant neighborhoods.

FOR SALE DETAILS

PRICE

$17,500,000 USD

PRICE/SF

$2,370 USD /SF

CAP RATE

5.92%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Historic 60 Unit Complex w/ No LA RSO

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

10

YEAR BUILT

1906

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

LAC4

APN/PARCEL ID

5149-024-009

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-940-8749

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Kenny StevensCompassMore Info
310-940-8749

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.