940 Figueroa St Los Angeles, CA 90015
- Specialty properties
- 0.58 lot acres
Current Use by Public Records
- ParkingPlus LLC / Parking Lot
- 940 S Figueroa St Parking / Parking Lot
- Variety Arts Building / Performing Arts Theater
Property Details for 940 Figueroa St
- Lot size
- 0.58 lot acres
- Property type
- Specialty properties
Description
This unique five-story, 54,187 square foot building at 940 S Figueroa St in Los Angeles, CA 90015, is a prime example of historic architecture and entertainment design. Located in the heart of Downtown Los Angeles, across from L.A. Live and Staples Center, this C2-4D-SN zoned property sits on a 0.58-acre lot (APN: 5138-002-019, 5138-002-029). The building boasts a ground floor live theater with a basement bar and mezzanine, accommodating 1,656 patrons. The second floor offers space ideal for a restaurant, bar, or VIP lounge (296 capacity), while a smaller theater on the third floor can hold 296. A large ballroom on the fourth floor provides space for 1,364, and the fifth floor is suitable for a VIP lounge or offices (95 capacity). Recent capital improvements include complete replacement of electrical, HVAC, and mechanical systems, preserving the building's historic charm. The adjacent parking lot presents additional development potential. This property offers a rare opportunity for an owner-user or investor seeking a unique entertainment venue or adaptable creative office space in a highly desirable location. The building's versatile design allows for various uses, including live entertainment, hospitality, and retail.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.263
- Latitude
- 34.0453
