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$5,290,000
Est. payment /mo
15,229 SqFt
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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Listed by Ivy Realty Co.
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