Description

Hayward Apartments is a 525-unit multifamily property located at 603 S Spring Street in Downtown Los Angeles' Historic Core. Originally constructed in 1925 and renovated in 2026, the property comprises approximately 112,017 square feet of building area across nine stories on a 23,146-square-foot lot. The residential component features a mix of efficiency and SRO units, including 459 income-restricted units and 66 market-rate units, with occupancy reported at 91.43%.

The property includes approximately 17,518 square feet of ground-floor retail space, creating a diversified mixed-use income profile. Retail tenants include Joe's Pizza, Silverlake Ramen, Tacos 1986, D-Town Burger, and Speakeasy Rhythm Room, while approximately 5,314 square feet of retail space is vacant, providing an opportunity for additional leasing activity.

Resident amenities include controlled access, elevator service, 24-hour doorman assistance, resident lounge areas, and rooftop gathering space. The property also features a large basement, approximately 1,000 square feet of vacant interior space, and an expansive rooftop deck that may provide opportunities for future amenity improvements and additional revenue generation.

Hayward Apartments is situated within the DTLA 2040 Planning Area, the City's Adaptive Reuse framework, and a federally recognized Opportunity Zone. The property is subject to multiple affordability restrictions, including a City CDBG regulatory agreement and a HUD Section 8 Project-Based Voucher contract providing rental subsidies for qualifying residents.

Located in the heart of Downtown Los Angeles, the property offers convenient access to major employment, retail, dining, entertainment, and transportation destinations. Pershing Square Station, Historic Broadway Station, and 7th Street/Metro Center are within walking distance, while the location has a Walk Score of 100 and Transit Score of 100. This transit-oriented setting, combined with the property's substantial unit count, ground-floor retail component, historic character, and multiple existing housing programs, makes Hayward Apartments a distinctive multifamily and mixed-use property in Los Angeles' Historic Core.