$5,290,000
1048 S Los Angeles Street Los Angeles, CA 90015
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$5,290,000
Est. payment /mo
15,229 SqFt
Active
1048 S Los Angeles Street Los Angeles, CA 90015
UPDATED:
11/13/2024 09:32 PM
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 15,229 sqft
Price per Sqft $347
MLS Listing ID CL24395791
HOA Y/N No
Year Built 1922
Lot Size 7,816 Sqft
Acres 0.18
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 Listing
Zoning LAM2
Interior
Fireplace No
Exterior
Total Parking Spaces 3
Building
New Construction No
Others
Tax ID 5145020005
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Ki Seon Im • Ivy Realty Co.
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