1048 Los Angeles Street, Los Angeles
Los Angeles Home For Sale
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.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90015
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- MLS® #:
- 24395791
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- Lot Size:
- 0.18
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- HOA Dues:
- $
Price Change History for 1048 Los Angeles Street, Los Angeles, (MLS® #24395791)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $5,900,000) | $5,290,000 | $610,000 (10.34%) |
Based on information from California Regional Multiple Listing Service, Inc. as of July 30th, 2024 at 4:51pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.