Executive Summary

The Neema Group of Marcus & Millichap is pleased to present The Jeffries, a 43-unit mixed-use multifamily asset located in the Old Bank District within the Historic Core of Downtown Los Angeles, offered together with a 6-unit retail annex at 425 S Los Angeles St. Together, the two assets represent a rare opportunity to acquire diversified, income-producing real estate in one of DTLA’s most transit-connected corridors.

Built in 1907 and comprehensively renovated between 2012 and 2014, The Jeffries is exempt from the Los Angeles Rent Stabilization Ordinance, providing the next owner with uncapped rent growth potential and full control over tenancy decisions from day one. The $9.6M+ adaptive-reuse conversion encompassed extensive structural upgrades, full HVAC replacement, comprehensive plumbing improvements, and new electrical service, distribution, and panels – including a generator and ATS – leaving virtually no near-term capital risk for an incoming buyer.

The seven-story building features a unit mix of 31 singles (652–896 SF) and 12 one-bedroom units (804–946 SF), each finished with exposed brick walls, polished concrete floors, stainless steel appliances, Euro-style cabinetry, vaulted ceilings, walk-in closets, and floor-to-ceiling windows with Downtown skyline views. The ground floor includes two fully leased retail spaces totaling 8,212 SF – a 4,600 SF bar and a 3,612 SF restaurant – providing immediate diversified income.

The retail annex at 425 S Los Angeles St generates $20,497/month ($245,964/year) across six tenants, anchored by a Subway leased through 2029 and operating 24 hours. The property offers approximately 18% rental upside on residential rents, presenting a clear value-add opportunity within the existing unit mix.

Community amenities include a basement-level gym and game room, lounge and media room, controlled access entry, day porter, on-site property manager, 15 parking spaces, intercom entry, and on-site security. With a Walk Score of 95 and a Transit Score of 100, the property sits less than half a mile from the Metro Red and Purple Lines, with walkable access to the CBD, Arts District, Fashion District, and major hospitality and entertainment venues.

The Jeffries and the 425 S Los Angeles St annex are offered at $256/SF on approximately 57,910 combined gross SF – a compelling basis for a non-RSO, mixed-use portfolio with substantial capital improvements already in place, immediate retail cash flow, and meaningful upside in one of Los Angeles’ most dynamic urban submarkets.