213-532-3268
1315 S Flower St, Los Angeles, CA for Sale
Apartments - FOR SALE
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1315 S Flower St
Los Angeles, CA 90015
South Park


HIGHLIGHTS

  • 117-unit plus commercial retail, 42,136 SF mixed-use investment competitively priced below recently appraised value and replacement cost
  • Robust cash flow provides an 11%+ cap rate and 5 GRM at acquisition
  • Opportunity to create a NOAH by capping SRO rents to 80% of LACDA vouchers and abating property taxes, savings of over $173,000 a year in taxes, resul
  • Ownership is currently leasing 70% of the units through LAHSA, providing a potential buyer with a stabilized asset and minimal lease-up risk
  • Ownership implemented over $1 million in comprehensive renovations, including all-new flooring, paint, fixtures, selective plumbing and electrical upg
  • Positioned in coveted South Park neighborhood of DTLA, one block from LA Convention Center, Crypto.com, Restaurants, Employment Centers, and Transport

OVERVIEW

Colliers is pleased to present the Oviatt Apartments, a 117 Unit, Mixed Use Multifamily and Retail Investment perfectly positioned adjacent to the metro, a block from the Los Angeles Convention Center and Crypto.com Arena, and in the heart of South Park, which is the most sought-after neighborhood in Downtown Los Angeles. Ownership has invested over $1 Million Dollars Renovating the 42,136 square foot property. Ownership is currently leasing 70% of the units through LAHSA, providing a potential buyer with a stabilized asset and minimal lease-up risk. The strategically positioned LAC4 zoned site allows significant future development from its location in an Opportunity Zone and the revised Downtown Community Plan which encourages greater density within transit community neighborhoods by 2040.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

117

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oviatt Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

LAC4

APN/PARCEL ID

5134-010-004

ASK ABOUT THIS PROPERTY

Adam TischerColliersMore Info
213-532-3268

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Adam TischerColliersMore Info
213-532-3268

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.