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$ 1,295,000
Est. payment /mo
Price Dropped by $130K
211 E 55th ST Los Angeles, CA 90011
10 Beds
9 Baths
4,660 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,660 sqft
Price per Sqft $277
MLS Listing ID 26652631
Bedrooms 10
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1912
Lot Size 4,887 Sqft
Property Description
Large price improvement! Bring ALL offers on this well-kept and recently remodeled 9-unit apartment building located in the rapidly improving South Los Angeles pocket. The property is being offered at a lucrative $143k Price Per Unit with a desirable and balanced unit mix of (3) 2 Bed/1 Bath, (4) 1 Bed/1 Bath & (2) Large Studio Units, with on-site parking for 4 units. 6 of 9 units were recently remodeled, with 5 of 6 of those units getting in-place market rents. (1) recently renovated 1 Bed/1 Bath unit is vacant and move-in-ready for market rent, and another (1) 1 Bed/1 Bath unit is vacant and remodel ready for market rent. 8,06% current cap rate and 7.52x current GRM once the two vacant units are leased. 2 units are below market and offer approximately 140% future rental upside. All units are separately metered for gas & electricity. In addition to renovated units, the common area hallways have been renovated, the exterior has been repainted with new trim, electrical repairs, 9A work completed, and more. 211 E 55th St offers a central urban setting just minutes south of Downtown Los Angeles. The surrounding area features a mix of residential streets, local markets and neighborhood restaurants. South Los Angeles benefits from its strategic location with easy access to major freeways such as the I-10, I-110, and I-405, providing seamless connectivity to Downtown, employment hubs, and the greater Los Angeles area. The property is less than 2 miles from Exposition Park, the Natural History Museum, and the upcoming $1B Lucas Museum of Narrative Art (opening September 2026), 2.25 miles from USC, and just over 3 miles from Crypto.com Arena and the LA Convention Center, placing tenants close to some of Los Angeles' most iconic cultural and entertainment destinations.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR2
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Fireplace No
Laundry None
Exterior
Parking Features Assigned
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5101013021
Financing Cash
Special Listing Condition Standard
Listed by Jonathan Rawson Avenue Realty Group #02010400