12th and Los Angeles Street Corner 2 Retail Properties Offered at $2,500,000 in Los Angeles, CA

These properties are comprised of two separate but adjacent buildings located at the northeast corner of 12th and Los Angeles Streets within the Fashion District of Downtown Los Angeles. The total combined building area exceeds 20,000 sq. ft. and the properties are situated on approximately 14,000 sq. ft. of land.
Originally built in 1982, the corner building, commonly known as 201 E. 12th Street, is partially fire damaged and is approximately 6,200 sq. ft. on approximately 6.700 sq. ft. of land. The building can easily be converted into 5 or 6 retails units that existed prior to the fire. Separate electrical meters are already in place from the original building. The property will require new plumbing, demising walls, electrical, and roof. The fire debris has been removed and the property is ready for renovation.
The second building (1150 S. Los Angeles Street) is an adjacent two story retail building of approximately 14,000 square feet located on approximately 7,200 sq. ft. of land. The two story brick building was built in 1905 and remodeled in the 1980's. There are currently two month to month tenants in place that use the ground floor for retail/wholesale sales combined with second floor warehousing space paying a total under market rent of $8,000 per month.
This property offers an owner/user/investor the opportunity to renovate the corner building (APN 5145-021-025) to the Buyer's specifications while collecting rent on the adjacent two-story building (APN 5145-021-008). Based on the costs associated with renovating the fired damaged corner building, the portfolio is priced to sell at under $125 psf for a Buyer that can reimagine the existing properties to the Buyer's intended use.