211 E 55th Street, Los Angeles, CA 90011
Property
Sold March 2024
Listing Agent: Jonathan Rawson (DRE #02010400) · Listing Office: Avenue Realty Group · Contact: 310-310-8624 · Bought with: Jonathan Rawson · Avenue Realty Group · MLS #23305631 · Source: CRMLS
About this property
211 E 55th Street is 9 units in South LA, and just a quick drive to all of the developments and community attractions at Exposition Park, USC and DTLA. Unit mix is (3) 2+1's, (4) 1+1's and (2) Singles. Large value add offering at only $132k per door, 11.87 GRM on current rents, and $256 per RSF. Substantial rental upside at 105%, conservatively, with a 5.82 GRM and 12.61% cap rate at stabilized rents. All units are separately metered for gas & electricity. Great opportunity for a long-term hold Buyer to capture upside and reposition the asset while getting in at a great pricing basis. Tenants enjoy easy access and mobility around LA by being blocks from the 110 Freeway entrance/exits. **This property is part of a 3-building portfolio with 1861 W MLK Jr Blvd (12 Units) and 709 E 49th Street (2 Units). All 3 can be bought together or separate.**
Listing description from the March 2024 sale, as reported to CRMLS.
Sale history