211 E 55th St is a 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 $166k 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. 7 of 9 units were recently remodeled, with 6 of those units getting in-place market rents. (1) of the renovated 1 Bed/1 Bath units just finished renovation and is market rent move-in-ready. 7.14% current cap rate and 8.61x current GRM once the vacant unit is leased. The 2 non-renovated and below market units 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.
Days on market: 15
Listing updated: March 03, 2026 - 07:53:03
Listed by: Jonathan Rawson DRE #02010400 310-433-4293, Avenue Realty Group - Beverly Hills/Greater LA
Source: Beverly Hills/Greater LA, MLS#: CLW-X8278801 Originating MLS: CRMLS
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