Price Reduced by $1,000,000. The Olympic is a 172-unit apartment complex/hotel situated in the redeveloping Westlake district of Los Angeles, just west of downtown. The Olympic will be delivered with a minimum of 110 units vacant at the close of escrow. The property is steps away from Wilshire Boulevard, Alvarado Street, MacArthur Park, and the Metro Station. The Olympic was built in 1925 and is a four-story complex constructed of reinforced brick with two large basements and a massive lobby. All units are efficiencies and have private bathrooms and a closet but no kitchen. No units share bathrooms. The certificate of occupancy from 1926 states the property is a "four-story, Class C, 172 Rooms, Hotel". As the property was originally a hotel, all utilities are master-metered. The property is serviced by four staircases and an elevator in a central hallway configuration with a courtyard between the u-shaped structure.
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