1645 W 48th St
Mixed-Use Investment | Strong In-Place Cash Flow | Priced at $180/SF
Marketing description
• High-Yield Mixed-Use Investment Opportunity – Offered at a 7.03% CAP rate and 7.58 GRM on current income, the property provides strong in-place cash flow at an attractive basis of just $186 per square foot.
• Signalized Corner Location with Exceptional Visibility – Positioned on a hard corner along Western Avenue, the property benefits from over 28,000 vehicles per day, prominent street exposure, and strong consumer traffic for both residential and retail tenants.
• Stable Retail Income from Faith-Based Tenants – All three ground-floor retail spaces are fully leased to faith-based organizations, providing durable contractual income supported by historically low turnover, consistent rent payments, and long-term community presence.
• Diversified Residential Unit Mix – The property features six one-bedroom and four two-bedroom apartments, offering a practical unit mix that appeals to a broad renter base throughout the South Los Angeles market.
• Value-Add Potential Through Rental Growth – Current rents provide a solid income foundation while offering meaningful upside as leases roll over and ownership captures future market rent growth.
• Renovated Units Reduce Near-Term Capital Requirements – A majority of the apartment units have been updated with stainless steel appliances, wood-style flooring, and refreshed bathrooms, minimizing immediate capital expenditure needs while preserving additional renovation upside.
• Excellent Transit and Commuter Accessibility – Metro bus stops at both 48th Street and Vernon Avenue, combined with convenient access to major employment centers throughout Los Angeles, support long-term tenant demand and occupancy stability.
• Potential Accelerated Depreciation Benefits – The property may qualify for accelerated depreciation opportunities under current tax legislation, creating the potential for significant tax shelter benefits during the early years of ownership.
• Strong South Los Angeles Demand Drivers – Located within an established infill neighborhood supported by dense population, workforce housing demand, and limited housing supply, the property benefits from durable long-term fundamentals.
• Immediate Cash Flow with Long-Term Appreciation Potential – Combining stable mixed-use income, irreplaceable corner positioning, and future rent growth opportunities, the asset offers investors both current yield and meaningful long-term value creation.
Investment highlights
The Ben Lee Group is pleased to present 1645 W 48th Street, a high-yield mixed-use opportunity featuring ten apartment units and three groundfloor retail spaces on a signalized hard corner in South Los Angeles. With over 28,000 vehicles per day on Western Avenue, Metro Local bus stops at both 48th Street and Vernon Avenue, and convenient access to major employment hubs throughout the region, the property benefits from exceptional visibility and strong underlying demand drivers for both its retail and residential components.
1645 W 48th Street is offered at a 7.03% CAP rate and a 7.58 GRM on current income, with an asking price of just $186 per square foot — a basis that is difficult to find on a cash-flowing mixed-use asset anywhere in Los Angeles today. Current rents reflect a solid in-place foundation with meaningful room to grow as leases turn over time.
The residential component consists of six one-bedroom and four twobedroom units, offering a practical mix that appeals to a broad renter base across the South LA submarket. A majority of the units have been updated with stainless steel appliances, wood-style flooring, and refreshed bathrooms, reducing near-term capital expenditure requirements on a portion of the portfolio while presenting new ownership with a clear value-add path on the remaining units.
All three retail units are fully leased to faith-based tenants, providing exceptionally stable, contractual income from day one. Faith-based organizations are among the most reliable commercial tenants in the market, historically demonstrating low turnover, consistent payment, and deep community ties that anchor them to a location for the long term. This adds a layer of durability and predictability to the income stream that compares favorably to the vacant or month-to-month commercial exposure found in many competing listings.
Beyond its strong in-place yield, 1645 W 48th Street may also qualify for accelerated depreciation benefits under the One Big Beautiful Bill Act, creating meaningful tax shelter opportunities in the early years of ownership. Investors are encouraged to request a cost segregation feasibility study to maximize available tax advantages.
1645 W 48th Street offers investors a rare combination of immediate yield, irreplaceable corner positioning, and significant upside to market rents. Supported by strong South LA demographics and consistent renter demand, the property delivers durable cash flow today with meaningful long-term appreciation potential.
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