Los Angeles, CA 90015,1048 S Los Angeles St
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Los Angeles, CA 90015,1048 S Los Angeles St
Los Angeles, CA 90015,1048 S Los Angeles St
Los Angeles, CA 90015,1048 S Los Angeles St
Los Angeles, CA 90015,1048 S Los Angeles St
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$ 5,290,000
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1048 S Los Angeles St Los Angeles, CA 90015

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


TheMLS (CLAW)
Listed by Ivy Realty Co.

Pure Luxury Realty

Broker

+1(562) 392-0668

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1048 S Los Angeles St