Permanent Living Conversion Opportunity - SRO, Convalescent and Other Uses

Location: Situated approximately 2.5 miles North of the Irvine Spectrum, the Property is located just to the South of Interstate 5 and can be accessed off the Sand Canyon Avenue off/on ramp. The Property can also be accessed off the 405 Interstate Sand Canyon Avenue off- and on-ramp to the South. Adjacent to the Property are both Denny’s and Knollwood Restaurants. The Location is surrounded by significant Retail, Office, and Industrial development.The Opportunity: The Property is offered for sale as a Potential Conversion to Permanent Housing. The City of Irvine has advised that the Current Zoning of the Property will allow for permanent residential use as a single-room occupancy (SRO) Facility, as well as other Potential Permanent uses through a Conditional Use Permit and/or ‘By Right’. The Property: The Property is currently operating as La Quinta® by Wyndham Irvine Spectrum. Situated on approximately 2 acres, the Property was built in 1989 and renovated in 2020. Comprising 148 Rooms, the two separate Buildings are joined and total approximately 89,389 Square Feet. The Rear Building is a former grain warehouse on the National Register of Historic Places.