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1110 S LAKE Street

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1110 S LAKE Street | Los Angeles, CA

$4,050,000

14,580 SQ.FT.

CBRE, Inc., as exclusive advisor, is pleased to present an exceptional opportunity to purchase a 27-unit apartment building in the historic Pico-Union submarket west of Downtown Los Angeles. Situated on a wide street bounded by historic homes and apartments, 1110 S. Lake St. is a high-quality multifamily asset with 37% upside in rents. Mix of 9 1-bedroom 1-bath and 18 studio apartments with original hardwood flooring, exposed masonry walls, quartz counter tops and period appointments. A small, gated parking lot for approximately 5 vehicles is off the alley behind the building, laundry facility is on-site, separately-metered for gas. The Pico-Union/Westlake Submarket borders Mid-Wilshire/Koreatown, City West and Downtown Los Angeles. As these surrounding markets gentrify and become redeveloped, Westlake continues to offer ultra-low vacancy and affordable living. Current ownership has renovated a portion of the units paving the way for a buyer to grow rents and add value.
Listing Provided by Adam Peterson, CB Richard Ellis, Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of September 14, 2018. 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.