538-540 S. San Pedro St

538-540 S. San Pedro St Los Angeles, CA 90013

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FOR SALE Incentives
Property Type:
Factory
Amount:
Please Call Broker for Price

Last Verified:
Jul 05, 2017


Description

Global Commercial Real Estate is pleased to present for sale 538-540 S. San Pedro Street. Subject property consist of a 17,200 SF 2 story brick building situated on 13,721 SF of M2 zoned land. Less than one miles away from one of the most vibrant pockets of Los Angeles - LA Live. Attractively priced the property offers developers and investors the opportunity to capitalize on a low income housing conversion project. Subject properties are located within the downtown greater Housing Incentive Area. The City's Adaptive Reuse Program works by streamlining the process developers must follow to get their projects approved, resulting in substantial time saving. Located on the same block as the recently developed $28 million Gateways Apartments, at the corner of 5th and San Pedro streets, has amenities such as an open-air atrium, solar panels and a smoking lounge with its own filtration system. The eye-catching design contrasts sharply with the more institutional facades of the nearby homeless shelters.

Two story industrial property with high dock loading
Newly updated offices on the first floor
Ample storage space
High dock loading
Conveyer belt system


Year Built: 1921
Building Size: 17200.0sq ft
Lot Size: 0.32 acres

Map of 538-540 S. San Pedro St, Los Angeles, CA, 90013

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Real Estate Incentives (What is this?)
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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.