- For Sale $14,350,000
- Property Type Multi-Family
- Property Size 52,968 SF
- Units 94
- Lot Size 22,440 SF
- Cap Rate % 5.65
- Additional Rent Contact for pricing
- Parking Spaces Avail. 16
- Parking Ratio 0.30 / 1,000 SF
- Year Built 1926
- Date Updated Sep 24, 2024
Kidder Mathews is pleased to present the opportunity to acquire 1209 S Lake St and 2210 W 12 St, a unique 94-unit multifamily building and a 6,000 SF income producing parking lot with 16 spaces located in Pico-Union near Downtown Los Angeles, a highly desirable and rapidly gentrifying submarket of Los Angeles. Originally constructed in 1926, the property is a well-maintained four-story apartment building, featuring a beautiful art-deco lobby, on-site parking, controlled access entry, laundry facilities, storage units, and security cameras. The Property features an ideal unit mix of 31 bachelors and 63 studio units. The Property presents the rare opportunity for an investor to acquire an ideal value-add opportunity in a high-demand rental market with the potential to add significant value through additional renovations. The property is well-maintained and has undergone a series upgrades and renovations over the years. While the units have been modestly renovated over the years, through a complete interior renovation program, an investor will have the opportunity to increase lease rates and capitalize on the remaining rental upside. 1200 S Lake St is conveniently located in a dynamic and amenity rich location. With a Walk Score of 93, the Properties are a Walker’s Paradise and surrounded by entertainment, shops, dining, and cultural amenities along with local transportation. The Properties are centrally located in dense, infill locations with close proximity to major employment centers including Downtown Los Angeles, Mid-Willshire, Miracle Mile, Hollywood, West Hollywood, Beverly Hills, and Century City. Further, tenants are just a short walk to the Westlake/MacArthur Park Purple/Red Line Metro Stations, connecting them to Downtown Los Angeles. The Purple Line is currently undergoing construction to extend the line by 2026 with new stations servicing Beverly Hills, Westwood and Brentwood. The Property is a rare value-add investment opportunity with strong cash flow and significant upside potential.
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Contacts
Location
Getting Around
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Walk Score ®
93/100
Walker's Paradise
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Transit Score ®
76/100
Excellent Transit
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Bike Score ®
80/100
Very Bikeable
- City Los Angeles, CA
- Neighborhood Pico - Union
- Zip Code 90006
- Market Los Angeles
Points of Interest
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Westlake/MacArthur Park
0.67 miles
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Wilshire/Normandie
1.33 miles
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Wilshire/Normandie Station
1.34 miles
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7th Street/Metro Center
1.35 miles
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Grand/LATTC
1.36 miles
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7th Street/Metro Center Station
1.42 miles
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Wilshire/Western Station
1.72 miles
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Wilshire/Western
1.73 miles
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Pershing Square
1.80 miles
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Grand Avenue Arts/Bunker Hill
1.86 miles
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76
0.48 miles
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Chevron
0.63 miles
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Arco
0.95 miles
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Shell
1.33 miles
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Electric Vehicle Charging Station
1.96 miles
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FLO
5.94 miles
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Culver City Supercharger
7.50 miles
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Tesla Supercharger
7.54 miles
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Parking electrique
7.86 miles
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Metro Kiss and Ride
0.68 miles
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Bond Lot
0.79 miles
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Employee Lot
0.83 miles
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West Garage
0.87 miles
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Vermont & WIlshire Parking Lot -LADOT Facility No. 691
0.91 miles
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East Garage
1.02 miles
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Venice Parking Garage
1.04 miles
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FIGat7th
1.17 miles
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SP+
1.21 miles
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The Metropolitan Apartments Parking Garage
1.27 miles
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Casa Bella Inn
0.11 miles
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Tuscan Garden Inn
0.21 miles
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Rodeway Inn Convention Center
0.31 miles
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Ramada Los Angeles/Downtown West
0.34 miles
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Staples Centre Inn
0.37 miles
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New seoul hotel
0.46 miles
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Hollywood Stay
0.51 miles
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Bethel House
0.62 miles
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Hotel Solaire
0.68 miles
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Holiday Inn Express
0.83 miles
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Jack in the Box
0.16 miles
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King Taco
0.17 miles
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Proper Pizza and Pasta
0.23 miles
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Subway
0.23 miles
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El Verado Bakery
0.23 miles
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Boba Time
0.24 miles
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Amar Desh Indian Restaurant
0.25 miles
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McDonald's
0.26 miles
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TGI Korean BBQ
0.30 miles
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Yengmani
0.32 miles
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Leo Politi Elementary School
0.27 miles
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Hollywood College School of Chiropractic
0.42 miles
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Magnolia Elementary School
0.47 miles
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Hoover Street Elementary School
0.52 miles
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Tenth Street Elementary School
0.54 miles
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Bernedo Middle School
0.64 miles
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Loyola University
0.68 miles
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Immaculate Conception School
0.69 miles
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Cambria Adult School
0.75 miles
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Esperanza Elementary School
0.77 miles
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HIC Daycare
1.69 miles
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Morning Star Education Center
2.09 miles
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Ralph M. Parsons Preschool
2.62 miles
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Komitas
3.56 miles
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San Antonio de Padua Academy Preschool
3.63 miles
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Vernon Adult Day Program
3.70 miles
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Vine Street Early Education Center
3.77 miles
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Neighborhood Nursery School
3.94 miles
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Jim Gilliam Child Care Center
4.75 miles
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Gates Early Education Center
4.76 miles
Frequently Asked Questions
How much does 1209 S Lake St & 2210 W 12th St cost?
The space currently listed for sale at 1209 S Lake St & 2210 W 12th St asks for $14,350,000.
What is the total square footage of 1209 S Lake St & 2210 W 12th St?
1209 S Lake St & 2210 W 12th St totals 52,968 square feet.
When was this property built?
1209 S Lake St & 2210 W 12th St was built in 1926.
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