HOSPITALITY RE-DEVELOPMENT PROJECT
DOWNTOWN LOS ANGELES
12,000SF LOT 0.28AC
0.47/1,000 PARKING RATIO
PENTHOUSE SUITES WITH DIRECT ROOFTOP POOL ACCESS
RANGING FROM 308SF TO 724SF PRESIDENTIAL SUITE
ROOFTOP DECK WITH 2 SEPARATE AMENITIES
RESTAURANT/BAR & POOL BAR CONCEPT
VARIOUS GROUND FLOOR FOOD & BEVERAGE OPPORTUNITIES CONSIST OF
2 RESTAURANT/BAR & COFFEE SHOP
The property includes commercial and hotel spaces with ground floor restaurants and retail, and a rooftop pool with outdoor bars and penthouse suites.
The property is located in the heart of the Downtown Los Angeles.
Downtown LA has been experiencing a resurgence of population and economic growth and has become a place to live, work and play.
This renaissance location to have tremendous both commercial and leisure travelers, benefiting from its proximity to a wide array of nearby demand generators.
The 150 keys hotel component of the property will start on the second level rising to the deck and pool area at the rooftop level.
Parking will be located in one level of subterranean parking and in the adjacent parking lot immediately to the west of the building.
$22,000,000 ACQUISITION PRICE
$24,000,000 = 80,000SF x $300 PER SF RENOVATIONS
$46,000,000 PROJECTED COST
$5,750,000 = 150 ROOMS x $150 AVERAGE ROOM x 70% OCCUPANCY x 365
$2,000,000 = 300 MEALS SERVED PER DAY x $25 AVERAGE x 365 x 70%
$400,000 = 100 MEALS SERVED PER DAY x $15 AVERAGE x 365 x 70%
$2,450,000 30% PROJECTED EXPENSES
$5,700,000 PROJECTED NET REVENUES STARTING 2024
- # of Floors
- Lot Size
- 0 acres
- Interior Corridor
- Exterior Corridor
- Mixed Corridor
- Breakfast Room
- Business Center
- Indoor Pool
- Indoor Hot Tub
- Outdoor Pool
- Outdoor Hot Tub
- Fitness Center
- Guest Laundry
- Meeting Space
- Living Quarters
- Posted By
- # of Units
- Room Revenue
- $ 5,750,000.00
- F&B Income
- $ 2,400,000.00
- Occupancy %