11th St. Apartments

Kidder Mathews is pleased to present the opportunity to acquire, 2121 W 11th Street, a unique 54-unit apartment building located in Pico-Union near Koreatown and Downtown Los Angeles, a highly desirable and rapidly gentrifying submarket of Los Angeles. Originally constructed in 1924, the Property is a charming, well-maintained, four-story structure with controlled access, two courtyards, a beautifully restored lobby, and a swimming pool. The Property features a favorable unit mix of 9 studios, 25 larger executive studios, and 20 one-bedroom, one-bath units.
2121 W 11th Street presents the opportunity for an investor to enter a high-demand rental market with the potential to add significant value through additional renovations. The Property is well-maintained and has undergone a number of upgrades and renovations over the years. The units have been modestly renovated to a certain specification, however through a complete interior renovation program, an investor will have the opportunity to capitalize on the remaining rental upside and reposition the property among market leaders. Some building and common area upgrades include a new elevator, upgraded plumbing with a 115 gallon storage tank and new copper and copper fittings for all piping around storage tanks, and a new shut off valve for storage tanks.
The Property is conveniently located in an amenity rich location, near entertainment, shopping, hotels, and restaurants along with local transportation. Tenants are within walking distance to major bus lines on Hoover St and Olympic Blvd and 0.6 miles 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. Further, the Property is centrally located near major employment centers including Downtown LA, Beverly Hills, Century City, Hollywood, West Hollywood, and Mid-Wilshire. Tenants are able to walk to Loyola Law School and minutes to Downtown Los Angeles. Located in an area with immense economic growth, 2121 W 11th Street provides investors with the opportunity to acquire a well maintained asset with tremendous rental upside.