211 E 55th St is a well-kept and recently remodeled 9-unit apartment building located in the rapidly improving South Los Angeles pocket. The property is being offered at a lucrative $158k Price Per Unit with a desirable and balanced unit mix of (3) 2 Bed/1 Bath, (4) 1 Bed/1 Bath… Read More & (2) Large Studio Units, with on-site parking for 4 units. 6 of 9 units were recently remodeled, with all 6 of those units getting in-place market rents. (1) 1 Bed/1 Bath unit is vacant and ready for renovation & remodel. 7.31% current cap rate and 8.21x current GRM once the vacant unit is leased. The 2 non-renovated and below market units offer approximately 140% future rental upside. All units are separately metered for gas & electricity. In addition to renovated units, the common area hallways have been renovated, the exterior has been repainted with new trim, electrical repairs, 9A work completed, and more. 211 E 55th St offers a central urban setting just minutes south of Downtown Los Angeles. The surrounding area features a mix of residential streets, local markets and neighborhood restaurants. South Los Angeles benefits from its strategic location with easy access to major freeways such as the I-10, I-110, and I-405, providing seamless connectivity to Downtown, employment hubs, and the greater Los Angeles area. The property is less than 2 miles from Exposition Park, the Natural History Museum, and the upcoming $1B Lucas Museum of Narrative Art (opening September 2026), 2.25 miles from USC, and just over 3 miles from Crypto.com Arena and the LA Convention Center, placing tenants close to some of Los Angeles' most iconic cultural and entertainment destinations. Read Less
Property listed by Avenue Realty Group, Jonathan Rawson 310-259-7556
Listing Snapshot
Days Online
25
Last Updated
Beds
10
Square Ft.
4,660
Lot Size
0.11 Acres
Year Built
1912
MLS Number
26652631
Additional Details
Building
Built in 1912, Living area: 4660.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $173,556, Net Operating Income: $104,101
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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