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    646 Spring St Los Angeles, CA 90012

    Sponsored
    For Sale
    $8,900,000

    Chinatown LA: Prime Creative Office Building

    Property size:
    19,625 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional two-story creative office building, located at 646-654 N Spring St in Los Angeles' Chinatown, presents a compelling investment opportunity. Boasting 19,625 square feet on a 13,772 square foot lot, the property features a recent renovation showcasing historic brick timber construction, impressive 13-foot high ceilings, and custom steel-framed doors and windows. Currently 64% occupied by two tenants, the building offers a strong NOI of $552,637, with a pro-forma NOI of $786,523, resulting in a pro-forma cap rate of 8.84%. The asking price is $8,900,000, translating to $453.50 per square foot. The property is zoned C2 and benefits from its central location, offering easy access to major freeways (101 & 110), Union Station, the Metro Gold Line, and vibrant neighborhoods like the Arts District, Silver Lake, and Little Tokyo. Its walkability score is near-perfect (94/100), placing it within walking distance of a diverse culinary scene and cultural attractions. This is a rare chance to acquire a well-located, renovated creative office building with significant upside potential.

    Property Features for 646 Spring St

    General Information

    Property type
    Office space
    Square Feet
    19,625 SF

    Building Details

    Buildings
    1
    Stories
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Perkins&Will Los Angeles Interior Designer Cannabis Dispensary Cannabis Store

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Food Market Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.23847495573
    Latitude
    34.058745837161

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    FAQs

    What type of property is this?
    Office space - Chinatown LA: Prime Creative Office Building
    Where is this office space located?
    The property is located at 646 Spring St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $8,900,000.
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    646 Spring St Los Angeles, CA 90012
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    646 Spring St Los Angeles, CA 90012
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