Office Building Appraisal in the Jewely District of Downtown Los Angeles
We recently just appraised an office building located in the Jewelry District of Downtown Los Angeles. The building is located along the 300 block of 8th Street. The subject property is a five-story, Class B office building originally constructed in 1945 with renovations to date. The property totals 21,944 square feet. The 1st floor is used for parking. The 2nd Floor is leased to one tenant. The 3rd Floor is in a shell condition. The 4th floor is improved office space. The 5th floor is manufacturing/office space. The subject also has a rooftop lounge area and basement area. There is a 3,000 square foot fully operational master value installed in the basement. The property features wastewater treatment equipment, a necessity and legal requirement for the manufacturing of jewelry in Downtown Los Angeles. This commercial real estate appraisal was conducted for a national financial institution.