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$5,290,000
Est. payment /mo
7,814 Sqft Lot
UPDATED:
12/05/2024 03:21 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24395791
HOA Y/N No
Year Built 1922
Lot Size 7,814 Sqft
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 C42 - Downtown L.A.
Zoning LAM2
Interior
Fireplace No
Exterior
Total Parking Spaces 3
Building
Lot Description Corner Lot
Story 2
Others
Tax ID 5145020005
Special Listing Condition Standard
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Listed by Ki Seon Im • Ivy Realty Co.
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