Wallace on Sunset
6230 Sunset Boulevard, Los Angeles, CA, 90028, US
200 unités
Descriptif
JLL, as exclusive advisor, is pleased to present for sale 625 Broadway (the “Property”) – a 231-unit, 100% market-rate multi-housing investment opportunity with upside located in Downtown San Diego, California.
Completed in 1926 and once the tallest skyscraper in San Diego, 625 Broadway has been a landmark of San Diego’s skyline for nearly a century. The historic character of the Property is encapsulated by an ornate façade, terra-cotta-cast ornamentation, medallion-sculptures, clock tower, and more. The interior of the Property has been completely reimagined as part of a $80M renovation completed in 2019 resulting in unique lofts-style units. Residents of 625 Broadway benefit from unrivaled connectivity to Downtown’s premiere entertainment options and top employers earning the Property a perfect 100 WalkScore.
The offering also includes 33,871 SF of ground floor retail space, as well as a 378-space parking garage situated on a separate ±0.46-acre parcel that offers redevelopment potential. Additionally, 625 Broadway benefits from flexible base zoning that allows for a variety of by-right uses, and up to a 14x FAR.
625 Broadway represents an excellent opportunity for an investor to acquire a unique, high-performing multi-housing asset at a significant discount to replacement cost in the most resilient Downtown market on the West Coast.
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Attributs
Nombre d'unités
231
Média
Points forts de l'investissement
- Iconic Residences - 1926 Romanesque landmark transformed into modern luxury lofts
- One-Of-One Downtown Living Experience
- Short Term Rental Opportunity - Building's favorable (CCPD-ER) zoning allows for possibility of converting property to short-term rentals
- Irreplaceble Product Available At A Discount To Replacement Cost
- Rare Downtown San Diego Offering of Scale
- Rent Friendly Demographics Fueled by Homeownership Unattainability
- Impending Supply Cliff & Downtown San Diego Post Pandemic Out Performance
- Within Highly Amenitized Gaslamp Quarter
- Transit Oriented Location In the Heart of San Diego's Largest Employment Center
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625 Broadway (0 Propriétés)
