Property Details


Year Built: 1989
Price / SqFt: $320
CAP: 6.66%
Number of Suites:: 29

Executive Summary


The Neema Group of Marcus & Millichap is pleased to present a REO Lender owned multi-tenant retail investment opportunity in the heart of the Fashion District in Downtown Los Angeles at 1153 Santee St on the corner of E 12th St & Santee St, less than a mile from the Los Angeles Convention Center, Crypto.com

 

Arena and LA Live Built in 1989, the subject property features 29 retail spaces throughout the four-story building as well as two cell towers on the roof; the building is currently 88% occupied and the majority of tenants are on short-term leases, allowing an investor to stabilize the asset immediately

 

12 spaces on the first-floor benefit from the high foot traffic in the neighborhood

 

Functional spaces with the majority between 129-1,609 SF with the exception of the fourth floor that consists of a 7,838 SF office space

 

Excellent walk score of 85, located a half-mile from the Metro rail lines and steps from the DASH and Metro Local bus lines; easy access to the 10 & 110 Freeways

 

The Fashion District continues to be the heart of commerce in Downtown Los Angeles with local businesses thriving in the neighborhood; the area has also benefited from expanded residential development in Downtown LA

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