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1211 West 11th Street

Los Angeles CA 90015

5
33
15887 sq. ft.
6746 sq. ft.
Other
Currently for sale - view listing

Overview

The building is located less than 400 feet from LA Live, the $2.5 billion campus housing 5,600,000 square feet of sports and entertainment venues. Also adjacent to the property are Crypto.com Arena, LA Convention Center, and numerous new retail and entertainment destinations. Available at an attractive 7.42% CAP Rate based on current income, an investor can gain a substantial foothold in the Downtown Los Angeles submarket for the comparatively low price of only $115,152 per apartment unit. In addition to enjoying strong immediate cash flows, a new owner can also dramatically improve returns over time, as current rents are approximately 40% below market. The building is not on the Los Angeles Department of Building and Safety's seismic retrofit list (Buyer to verify), which will save a new owner from an otherwise costly expense. Several capital improvements have been made at the property recently, including an all new electric system, updated plumbing, new windows, a new front gate, and new hallway tile. The building is also separately metered for both gas and electricity, a rare occurrence among buildings constructed in this time period. Because of its proximity to the venues of numerous 2028 Summer Olympic events, the property sits in the direct path of scheduled infrastructure improvements that should boost the entire local neighborhood.

Features

5 bedrooms
33 bathrooms
15887 sq. ft. floor area
6746 sq. ft. lot size
Other

Property history for 1211 West 11th Street

2014
Sold
$2,400,026
29 Dec 2014 by Lawrence Cannizzaro, of Beitler Commercial Realty Serv

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Local market activity for 5 bedroom other properties in Los Angeles

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