$5,290,000
1048 S Los Angeles St Los Angeles, CA 90015
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$5,290,000
Est. payment /mo
15,229 SqFt
Active
1048 S Los Angeles St Los Angeles, CA 90015
UPDATED:
11/13/2024 05:23 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 15,229 sqft
Price per Sqft $347
MLS Listing ID 24-395791
Year Built 1922
Lot Size 7,816 Sqft
Acres 0.1794
Property 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.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAM2
Exterior
Garage Spaces 3.0
Building
Story 2
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Ivy Realty Co.
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