Created a new LLC few years back with 'C' corp election for taxation purpose(via Form 8862)

What is the procedure to convert this LLC with 'C' corp election to be pass thru LLC. LLC has only a single owner, no employees/partners. Currently the LLC owns an office space(50% loan paid off) with $5000 p.a rental income. Also, LLC holds $50,000 cash in its account.(All the office property equity and cash are after paying the taxes at the corporate tax rate)