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$1,726,000
Est. payment /mo
4,552 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26007542
HOA Y/N No
Year Built 1924
Lot Size 4,552 Sqft
Property Sub-Type Apartment
Property Description
8.20% Cap Rate | Strong In-Place Cash Flow
1511 W 11th Pl presents a rare opportunity to acquire a high-performing 16-unit apartment asset at an exceptional basis in the heart of Pico- Union. Priced at just $107,000 per unit and $250 per square foot, the property offers some of the strongest in-place returns available in the submarket. The building is separately metered for gas and electric and is currently operating at a 7.5 GRM, providing investors with durable day-one cash flow and minimal operational friction. This profile makes the asset ideal for both local investors and 1031 exchange buyers seeking stable income in a dense, supply-constrained market. Ideally located just minutes from Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park, the property benefits from proximity to major employment hubs, consistent rental demand, and ongoing neighborhood revitalization—positioning 1511 W 11th Pl as a compelling long-term hold.
1511 W 11th Pl presents a rare opportunity to acquire a high-performing 16-unit apartment asset at an exceptional basis in the heart of Pico- Union. Priced at just $107,000 per unit and $250 per square foot, the property offers some of the strongest in-place returns available in the submarket. The building is separately metered for gas and electric and is currently operating at a 7.5 GRM, providing investors with durable day-one cash flow and minimal operational friction. This profile makes the asset ideal for both local investors and 1031 exchange buyers seeking stable income in a dense, supply-constrained market. Ideally located just minutes from Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park, the property benefits from proximity to major employment hubs, consistent rental demand, and ongoing neighborhood revitalization—positioning 1511 W 11th Pl as a compelling long-term hold.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Curbs, Suburban, Sidewalks, Urban
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5137020016
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by Aaron Jacobson Lyon Stahl Investment Real Estate, Inc. 310-729-1559
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High State Realty
BROKER, OWNER | License ID: 02181686
BROKER, OWNER License ID: 02181686