The View

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale The View (the “Property”), a modernized 168-unit high-rise community located in the epicenter of Los Angeles’ renowned Koreatown neighborhood. Originally delivered in 1965, The View underwent an extensive modernization effort in 2013, which addressed all major building system and mechanical upgrades and brought all unit interiors to modern finish scope including stainless-steel appliances, soft-close wood-slab cabinetry, light quartz countertops and in-unit washer & dryer. Since then, units on the top two floors (28 units/17% of Property) have been further upgraded with custom flooring and an elevated appliance package, among other minor upgrades, which has resulted in a ±$400/u (±15%) renovation premium. The community features a large resort-style pool and outdoor lounge, state-of-the-art fitness center, class A resident lounge, among other premier amenities. Homes have a unique airy feel, dominated by natural light and views of the Los Angeles skyline and Pacific Ocean, leading to a durable competitive advantage.

Residents are attracted to The View given its desirable Koreatown location, one of Los Angeles’ most walkable and vibrant communities, surrounded by over 3,200 unique retail & shopping establishments and 12.4M square feet of office space, earning the asset an impressive 95 WalkScore. For these reasons and more, Koreatown has become a renter’s paradise, leading the Los Angeles metro in renter absorption over the past 5-years at over 2,300-units. The View is optimally located along 7th Street, one-block from the bustling Wilshire Boulevard employment corridor, providing a quiet living environment while remaining walkable to key demand drivers. This iconic location is highly accessible to Downtown Los Angeles, Century City, or other major employment node in the LA Metro via the 10-fwy or 101-hwy, or plethora of public transit options.

Only one other high-rise property has sold in Koreatown over the past decade, making The View a rare opportunity to acquire an irreplaceable asset with proven upside.