Wedding Venue with NNN
For Sale
Contact for pricing
Pending
627 South Carondelet, Los Angeles, CA 90057
Established event property with banquet hall entitlement, alcohol sales authorization, and café-entertainment permissions.
Property SizeContact for details
Days on Market144
Property Features for 627 South Carondelet
General Information
Standard status
Pending
Property subtype
Retail, Office, Special Purpose, Mixed Use
Building Details
Tenancy
Single
Listing Agency:
WESTMAC
Listed By:
Daniel J. Park, Esq. · License #CA 01924837
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 3:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WESTMAC
Investment Insights
Based on property information with market context.
Carondelet House is an event-oriented property with a history of institutional and creative use. The building formerly served as an art gallery, library, and administrative headquarters for Otis College of Art and Design before being converted into an event venue. It averages more than 120 events annually and is entitled for banquet hall operations and alcohol sales, with additional permission for café and entertainment or show uses.
The property is located at 627 South Carondelet in Los Angeles, just off Wilshire Boulevard and between Koreatown and Downtown. An adjacent city-owned parking lot provides abundant parking. The offering is structured around a single-tenant NNN lease, with a new lease carrying a 10-year primary term to be executed in escrow. Proposed lease payments represent less than 15 percent of the current ownership’s gross revenues.
The property is located at 627 South Carondelet in Los Angeles, just off Wilshire Boulevard and between Koreatown and Downtown. An adjacent city-owned parking lot provides abundant parking. The offering is structured around a single-tenant NNN lease, with a new lease carrying a 10-year primary term to be executed in escrow. Proposed lease payments represent less than 15 percent of the current ownership’s gross revenues.
Key Highlights
- Wedding and event venue at 627 South Carondelet, Los Angeles, CA 90057
- More than 120 events held annually
- Entitled for banquet hall use and alcohol sales
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 90057, CA
45,510
Population
17,912
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
58%
High-School Grad
0.9 sq mi
ZIP Area
50,567
Density / Sq Mi
$44,876
Median Household Income
$30,849
Median Earnings
$1,395
Median Rent
$694,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Established event property with banquet hall entitlement, alcohol sales authorization, and café-entertainment permissions.
Where is this wedding venue located?
The property is located at 627 South Carondelet Los Angeles, CA.
What are key features of this property?
This property features: Wedding and event venue at 627 South Carondelet, Los Angeles, CA 90057; More than 120 events held annually; Entitled for banquet hall use and alcohol sales
