The Barclay Hotel in booming downtown, the oldest continuous running hotel in LA, is now for sale. The broker estimates it could rake in a sale price of more than $40M.

The 103 W Fourth St spot houses low-income residents, but there's talk a buyer could turn it into a trendy, boutique hotel.

However, any potential buyer would have to keep a couple of things under consideration. The hotel is an LA Historic Cultural Monument, which creates some restrictions when it comes to renovations. The building’s tenants would also have to be relocated to new single-resident occupancy housing, according to Curbed.

The Barclay Hotel was first known as the Van Nuys Hotel and dates back to 1897. It was the first such establishment in the city to have electricity and offer telephones in every room.

In recent years, the hotel has also been featured in films, including Inception, Armageddon and As Good As It Gets. The Barclay Hotel is owned by Vasquez Trust. [Curbed]