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$ 4,950,000
Est. payment /mo
Price Dropped by $800K
1048 S Los Angeles ST Los Angeles, CA 90015
7,814 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26850005
HOA Y/N No
Year Built 1922
Lot Size 7,814 Sqft
Property Description
Rare opportunity to acquire an extensively reconstructed mixed-use retail and office property in the heart of Downtown Los Angeles' Fashion District. Situated on a signalized corner location, the property consists of approximately 15,229 square feet of retail storefronts and second-floor office suites. Following a 2009 fire, the building underwent substantial reconstruction and modernization including structural repairs, new roof systems, electrical upgrades, plumbing replacement, HVAC installation, elevator replacement, restroom reconstruction, and numerous building-wide improvements. Plans, permits, and final inspections are available. The property is occupied by long-term tenants operating primarily on month-to-month lease agreements, providing future ownership with significant flexibility and rental upside potential. Ownership has generally not implemented significant rent increases for approximately ten years, creating substantial mark-to-market opportunity. Prime Fashion District location near California Market Center, Santee Alley, LA Live, Crypto.com Arena, and the Los Angeles Convention Center. LAM2 zoning. Owner-user and value-add investment opportunity.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAM2
Interior
Heating Electric, Wall Furnace
Fireplace No
Laundry None
Exterior
Community Features Gated
Utilities Available Electricity Available
Roof Type Flat
Building
Lot Description Corner Lot
Story 2
Water Public
Others
Tax ID 5145020005
Security Features Fire Detection System,Fire Rated Drywall,Fire Sprinkler System,Gated Community,Smoke Detector(s)
Financing Conventional,Private
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=XNHiepCCuMo
Listed by Bobak Kalhor K2 Investment Inc. #01198998