Premiere Towers

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Address: 621 S Spring St, Los Angeles, CA 90014, USA
California & West + Apartment Buildings
Created date: June 25, 2026
Date last updated: June 25, 2026
  • 12-story, beautifully appointed, 122-unit mixed-use residential building
  • Not subject to LA City rent control
  • No affordable units
  • Seismically retrofitted
  • Building has been meticulously maintained
  • Modernized, contemporary residences
  • Property offers rooftop lounge, gym and recreation room
  • The condominium map and active HOA unlock an immediate and
    highly attractive unit-by-unit sellout strategy
  • Amazing city views
  • Priced below replacement cost
  • 120 garage parking spaces within building
  • Attractive Mills Act candidate building with potential for over
    $200,000 in tax savings

Property Description

CBRE is pleased to present Premiere Towers, an exceptional multifamily investment opportunity located at 621 S. Spring Street in the heart of Downtown Los Angeles’ Historic Core. This 122-unit residential community - complemented by approximately 5,500 square feet of ground-floor retail and 120 garage parking spaces - represents a compelling convergence of stabilized income, value-add potential, and irreplaceable historic provenance.   Because the property has been mapped for condominiums since 1984 and the homeowners association (HOA) has been maintained by current ownership throughout their tenure, the building is exceptionally well-positioned for an expedited condominium selloff. A buyer may pursue individual unit sales shortly after the close of escrow without the time and expense typically associated with a traditional condominium conversion. This represents a compelling exit strategy in a market where the median sale price of condominiums in Downtown Los Angeles was approximately $650,000 from January 1, 2026 to April 28, 2026 (Source: TheMLS), with a median price per square foot of approximately $670. Given the building’s excellent unit mix, historic character, and amenity package, best-in-class individual unit pricing should be achievable at or above the submarket median. The existing condominium map and active HOA eliminate the most significant regulatory and administrative hurdles to a selloff, creating a path to value realization that is both near-term and executable.
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Broker Details

Kadie Presley Wilson
Kadie Presley Wilson

CBRE 310 550 2575

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 122
Cap Rate: 90067%
Year Built: 1923
Year Renovated: 1984
Building Size: 167,700 Sq ft
Lot Size: 0.39 Acres
No. of Stories: 12
Opportunity Zone: No
Parking Spaces: 120
Property Website Click Here
Address: 621 S Spring St, Los Angeles, CA 90014, USA

Additional contacts

Full name Phone number Email address
Kamran Paydar +1 310 550 2529 [email protected]

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