501 11Th StLos Angeles, CA 90015
- Retail space
- 19,464 SF
Property Details for 501 11Th St
- Year built
- 1969
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.46 AC
- Property size (Sq ft)
- 19,464 SF
- Zone code
- LAM2
- Property type
- Retail space
- APN
- 5145-019-020
- APU
- 5145019020
Description
This exceptional 16,105-square-foot retail property, located at 501 E 11th St, Los Angeles, CA 90015, presents a unique investment opportunity. Situated on a 19,980-square-foot lot in the heart of the Fashion District, at the corner of 11th and Wall Streets, this multi-tenant building boasts 13 units, currently operating under a gross lease structure. The property features 48 parking spaces conveniently located on the rooftop. Constructed in 1969, the building is zoned M2-2D. Currently, several units are occupied on month-to-month leases, with some vacancies and a few units utilized as warehouses at below-market rates. This presents a compelling opportunity for an owner-user seeking a showroom space, particularly given the potential for future zoning changes and significant land value appreciation. The property's prime location within a predominantly retail/wholesale area offers strong potential for future development and increased rental income. The APN is 5145-019-020. This is a rare chance to acquire a substantial retail asset in a thriving Los Angeles market. The asking price is $9,000,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $8,439,339
- 6.5%
- $7,790,159
- 7%
- $7,233,719
-
Comparable approach
- Method
- Valuation
- Relative Method
- $9,327,211
- Geo Method
- $9,327,211
-
Alternative Use
- Use
- Valuation
- Residential
- $6,571,290
- Hospitality
- $6,019,267
- Educational
- $5,007,960
- Medical
- $5,180,191
- Retail
- $7,790,159
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0365
- Longitude
- -118.254
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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