Property Detail

Description

8.35% Cap Rate | Strong In-Place Cash Flow 1511 W 11th Pl presents a rare opportunity to acquire a high-performing 16-unit apartment asset at an exceptional basis in the heart of Pico- Union. Priced at just $106,188 per unit and $248 per square foot, the property offers some of the strongest in-place returns available in the submarket. The building is separately metered for electric and is currently operating at a 7.43 GRM, providing investors with durable day-one cash flow and minimal operational friction. This profile makes the asset ideal for both local investors and 1031 exchange buyers seeking stable income in a dense, supply-constrained market. Ideally located just minutes from Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park, the property benefits from proximity to major employment hubs, consistent rental demand, and ongoing neighborhood revitalization—positioning 1511 W 11th Pl as a compelling long-term hold.