1048 S Los Angeles Street , Los Angeles, CA 90015
Los Angeles, CA 90015
Description
Big price reduction! The building was rebuilt in 2009 and represents a prime investment opportunity in the heart of downtown Los Angeles. This corner property, located at the bustling intersection of Los Angeles St. and 11th St., is a rare gem boasting an outstanding CAP rate of 5.5% , rental income $31,485/mo. and tremendous upside potential. Situated in a highly desired rental market with strong investor and tenant demand, this two-story complex was rebuilt in 2009 and offers approximately 7,814 square feet of land zoned LAM2. The property currently features a 15,229-square-foot building accommodating fourteen retail tenants engaged in the fashion-related sector. This building is almost 100% occupied by tenants with great credit. Its prime location on a signalized corner in the fashion district, just one block from the California Mart, seven blocks from LA Live, and 1.5 blocks from Santee Alley, makes it highly attractive. The month-to-month leases provide excellent owner-user or value-add opportunities with significant upside potential. The property's advantageous position at a signalized corner further enhances its appeal. This property presents a unique investment opportunity with significant potential for growth and value enhancement.
Details
| MLS# | 24395791 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 241 |
| Listing Provided By | Ivy Realty Co. 213-386-8888 | Ki Seon Im |
Features
| SQ Feet | 15,229 |
|---|---|
| Story(s) | 2 |
| Units | 14 |
| Zoning | LAM2 |
| Acreage | 0.18 |
Market Activity 90015
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90015 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90015) | |
Price: $5,290,000 low | high Med: $505,000 SqFt: 15,229 low | high Med: 745 $ / SqFt: $347 low | high Med: $678 On Site: 241 low | high Med: 119.000000 | |