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Large price improvement! Bring ALL offers on this well-kept and recently remodeled 9-unit apartment building located in the rapidly improving South Los Angeles pocket. The property is being offered at a lucrative $143k Price Per Unit with a desirable and balanced unit mix of (3) 2 Bed/1 Bath, (4) 1 Bed/1 Bath & (2) Large Studio Units, with on-site parking for 4 units. 6 of 9 units were recently remodeled, with 5 of 6 of those units getting in-place market rents. (1) recently renovated 1 Bed/1 Bath unit is vacant and move-in-ready for market rent, and another (1) 1 Bed/1 Bath unit is vacant and remodel ready for market rent. 8,06% current cap rate and 7.52x current GRM once the two vacant units are leased. 2 units are below market and offer approximately 140% future rental upside. All units are separately metered for gas & electricity. In addition to renovated units, the common area hallways have been renovated, the exterior has been repainted with new trim, electrical repairs, 9A work completed, and more. 211 E 55th St offers a central urban setting just minutes south of Downtown Los Angeles. The surrounding area features a mix of residential streets, local markets and neighborhood restaurants. South Los Angeles benefits from its strategic location with easy access to major freeways such as the I-10, I-110, and I-405, providing seamless connectivity to Downtown, employment hubs, and the greater Los Angeles area. The property is less than 2 miles from Exposition Park, the Natural History Museum, and the upcoming $1B Lucas Museum of Narrative Art (opening September 2026), 2.25 miles from USC, and just over 3 miles from Crypto.com Arena and the LA Convention Center, placing tenants close to some of Los Angeles' most iconic cultural and entertainment destinations.
Property Type(s):
Residential Income
| Last Updated | 4/17/2026 | Year Built | 1912 |
|---|---|---|---|
| Community | C42 - Downtown L.A. | County | Los Angeles |
Price History
| Prior to Mar 13, '26 | $1,495,000 |
|---|---|
| Mar 13, '26 - Apr 17, '26 | $1,425,000 |
| Apr 17, '26 - Today | $1,295,000 |
Additional Details
| AREA | C42 - Downtown L.A. |
|---|---|
| HEAT | Wall Furnace |
| INTERIOR | Ceiling Fan(s) |
| LOT | 4887 sq ft |
| LOT DIMENSIONS | 40x122 |
| PARKING | Assigned |
| STORIES | 2 |
Location
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Listed with Avenue Realty Group
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