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1048 S Los Angeles St, Los Angeles, CA 90015
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1048 S Los Angeles St Los Angeles, CA 90015

$5,290,000
  • -- Beds
  • -- Baths
  • 15,229 Sq.Ft.
For Sale
$5,290,000 Get Pre-Qualified
Map preview of 1048 S Los Angeles St, Los Angeles, CA 90015

Property Overview: 1048 S Los Angeles St Los Angeles, CA has -- bedrooms, -- bathrooms, 15,229 living square feet and 7,816 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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% 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.

Listed by Ki Seon Im | BRE #01860439 | Ivy Realty Co.
Last checked: 14 minutes ago | Last updated: June 18th, 2024 | Source CRMLS | DOM: 27
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Home details

Lot Sq. Ft
7,816
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Other
Status
Active
MLS#
24395791
City
Los Angeles
County
Los Angeles
Time on Site
26 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: --
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: --
  • Net Operating Income: --
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1048 S Los Angeles St

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: Corner Lot
Property Information
  • Total # of Units: 14
  • Parcel Number: 5145020005
Location / Neighborhood
Location Information
  • Directions: Los Angeles St & E 11th ST
View more facts & features

Local Los Angeles Agent

Sale History for 1048 S Los Angeles St

Last sold on August 14th, 2015

  • May, 2024

  • May 30, 2024

    Date

    Active

    CRMLS: 24395791

    $5,900,000

    Price

  • February, 2022

  • Feb 8, 2022

    Date

    Active

    CRMLS: 22125785

    $5,500,000

    Price

  • Listing provided courtesy of CRMLS

    PRICE REDUCED BY $550,000!!! Within a mile of the Staples Center, LA Live, LA Convention Center, Santee Alley and the Flower Market, 1048 South Los Angeles is an almost fully occupied office/retail building located at the corner of Los Angeles Street and 11th Street in the heartof Downtown's Fashion District. The property consists of 15 units 7 office suites above 8 ground-floor retail units. A great opportunity exists for an owner/user to occupy the building or for an investor to increase value by repositioning the asset.

  • August, 2015

  • Aug 14, 2015

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 1999

  • Mar 10, 1999

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1048 S Los Angeles St

Assessed Value (2020): $3,416,485
Year Land Value Improved Value Assessed Value
2020 $2,049,892 $1,366,593 $3,416,485

Home Value Compared to the Market

This property vs the competition

1048 S Los Angeles St is listed 323.54% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $778 and this home is listed at $347.36 per/sqft which puts the price per square foot 55.35% lower than the median price per square foot for the city of Los Angeles.

About 1048 S Los Angeles St

Detailed summary of property

1048 S Los Angeles St is a other located in Los Angeles, CA 90015 and is currently for sale. This property offers -- bedrooms, -- bathrooms, roughly 15,229 living square feet, and sits on an approximately 7,816 square foot lot. 1048 S Los Angeles St was first listed on ArdentRealEstateGroup.com on May 30, 2024. The homeowner is currently asking $5,290,000 and was originally asking $5,900,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $778. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 323.54% higher than the median priced home. Local competing homes currently for sale include 7809 Melrose Ave, 11934 Willowbrook Ave and 1046 S Robertson Blvd. While the average home in Los Angeles, CA is selling in 98 days, 1048 S Los Angeles St has a days on market of 27 days. There are currently 4006 homes for sale in the Los Angeles real estate market and 2700 of them are single family homes while 1190 of them are condos and 109 are townhomes. For more information on this home for sale at 1048 S Los Angeles St Los Angeles, CA 90015 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1048 S Los Angeles St

Public county record property details
Beds
--
Baths
--
Year built
1922
Sq. Ft.
15,229
Lot Size
7,814
Stories
1
Type
Store/Office (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
5145-020-005

The source for these homes facts are from public records.

90015 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$712,000
Median List Price/Sq.Ft.
$725
Median Sold Price
$935,000
Median Sold Price/Sq.Ft.
$668
Total Inventory
89
Median Sale to List Price %
93.69%
Avg Days on Market
68
Loan Type
Conventional (14.29%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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