1048 S Los Angeles Street, Los Angeles, CA 90015 (MLS # 24395791)
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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.
| DAYS ON MARKET | 101 | LAST UPDATED | 9/3/2024 |
|---|---|---|---|
| YEAR BUILT | 1922 | COMMUNITY | Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Jun 18, '24 | $5,900,000 |
|---|---|
| Jun 18, '24 - Today | $5,290,000 |
| ADDITIONAL DETAILS | |
| AREA | Downtown L.A. |
|---|---|
| HOA DUES | 0 |
| LOT | 7816 sq ft |
| LOT DESCRIPTION | Corner Lot |
| STORIES | 2 |
| ZONING | LAM2 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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