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Mixed-Use MF & Retail in LA's South Park 1315 S Flower St 117 Apartment Units Online Auction Sale Los Angeles, CA 90015
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Oviatt Apartments offers buyers the chance to acquire a 117-unit multifamily property with an additional six commercial units.
- One block to the Los Angeles Convention Center and Crypto.com Arena, and surrounded by a plethora of entertainment venues.
- Ownership implemented over $1 million in comprehensive renovations, allowing buyers to reap the benefits of these upgrades.
- Located in South Park, a highly desirable neighborhood in Downtown Los Angeles near the Santa Monica Freeway and the 110.
- Numerous nearby amenities include Whole Foods Market, 7-Eleven, Ideology Coffee, Orangethory Fitness, and South Park Pharmacy.
EXECUTIVE SUMMARY
Colliers is pleased to present the Oviatt Apartments, a mixed-use multifamily and retail investment perfectly positioned in the heart of South Park, which is the most sought-after neighborhood in Downtown Los Angeles. The 42,136-square-foot property comprises 117 residential units and six commercial units. Ownership has invested over $1 million in renovating the property, including all-new flooring, paint, fixtures, selective plumbing and electrical upgrades, and roof maintenance. The strategically positioned LAC4 zoned site allows significant future development from its location in an Opportunity Zone and the revised Downtown Community Plan, which encourages greater density within transit community neighborhoods by 2040. If the buyer partners with a selected nonprofit, 70% of the units are already committed for lease, allowing for rapid stabilization and minimal lease-up risk. This structure also provides flexibility to attract both affordable and market-rate tenants quickly.
South Park is one of Downtown Los Angeles’ most vibrant and rapidly transforming neighborhoods. Just one block away, the city is investing $2.6 billion into expanding the Convention Center, with completion expected by 2029 following a pause for the 2028 Olympics. This major public investment is set to further elevate the area’s appeal and economic momentum. Anchored by major entertainment and cultural destinations such as Crypto.com Arena, LA Live, and the Los Angeles Convention Center, South Park has become a hub for urban living, tourism, and investment. The area has seen significant residential and mixed-use development over the past decade, contributing to a surge in population density, pedestrian traffic, and retail demand. Characterized by its luxury high-rises, modern infrastructure, and walkable streetscape, South Park continues to attract a high-income demographic and leading national retailers. With ongoing infrastructure upgrades and proximity to major transit hubs, including the 7th Street/Metro Center station, the neighborhood offers a compelling environment for both residents and businesses.
Property tours are available by appointment only. Please contact the listing broker to schedule.
South Park is one of Downtown Los Angeles’ most vibrant and rapidly transforming neighborhoods. Just one block away, the city is investing $2.6 billion into expanding the Convention Center, with completion expected by 2029 following a pause for the 2028 Olympics. This major public investment is set to further elevate the area’s appeal and economic momentum. Anchored by major entertainment and cultural destinations such as Crypto.com Arena, LA Live, and the Los Angeles Convention Center, South Park has become a hub for urban living, tourism, and investment. The area has seen significant residential and mixed-use development over the past decade, contributing to a surge in population density, pedestrian traffic, and retail demand. Characterized by its luxury high-rises, modern infrastructure, and walkable streetscape, South Park continues to attract a high-income demographic and leading national retailers. With ongoing infrastructure upgrades and proximity to major transit hubs, including the 7th Street/Metro Center station, the neighborhood offers a compelling environment for both residents and businesses.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
First Floor Matterport Tour
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OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Miscellaneous
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.27 AC |
| Sale Condition | Auction Sale | Building Size | 47,176 SF |
| Type of Ownership | Fee Simple | Average Occupancy | 33% |
| No. Units | 117 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | Parcel Number | 5134-010-004 |
| Building Class | C | ||
| Zoning | LAC4 | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 117 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 47,176 SF |
| Average Occupancy | 33% |
| No. Stories | 4 |
| Year Built | 1911 |
| Opportunity Zone |
Yes |
| Zoning | LAC4 |
| Parcel Number | 5134-010-004 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Elevator
- Smoke Detector
Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (97)
Bike Score®
Very Bikeable (86)
SALE ADVISORS
SALE ADVISORS
Kalli Knight, Associate Vice President
Kalli Knight is an Associate Vice President at Colliers and a Multifamily expert specializing in the sale of multifamily investments across the Southern California market. The commercial real estate professional began her career at Colliers in 2017 and has since generated a trusted client base and secured a reputable status with the involvement of high-profile transactions throughout Hollywood, Koreatown, Silverlake, Westlake, Palms and Culver City.
As a previous business development executive of a Fortune 500 company, Kalli brings forth a valuable understanding of today’s current market, working alongside The Kitty Wallace Team to strategize and provide substantial market intelligence. What sets Kalli apart is her solutionist and tenacious spirit. She is astute in developing a meticulous approach to adhere to her clients’ business objectives and successfully crafts tailored solutions for institutional and private sector users. With more than 20 years in the industry, Kalli is well-positioned to curate seamless transactions as she is often responsible for retrieving high-value listings, cross collaborating among industrial and office brokers for the most lucrative partnerships, and executing sales, underwriting, as well as client evaluation and financial analysis.
In her tenure, she has completed an array of notable transactions which include the $46 million sale of the Hollywood Landmark—The Gershwin, a $21 million portfolio sale of AB14 non-rent control multifamily investments in Hollywood and Koreatown amidst the pandemic and the sale of new construction in Silverlake at a record $680,000 per unit for the market.
As a previous business development executive of a Fortune 500 company, Kalli brings forth a valuable understanding of today’s current market, working alongside The Kitty Wallace Team to strategize and provide substantial market intelligence. What sets Kalli apart is her solutionist and tenacious spirit. She is astute in developing a meticulous approach to adhere to her clients’ business objectives and successfully crafts tailored solutions for institutional and private sector users. With more than 20 years in the industry, Kalli is well-positioned to curate seamless transactions as she is often responsible for retrieving high-value listings, cross collaborating among industrial and office brokers for the most lucrative partnerships, and executing sales, underwriting, as well as client evaluation and financial analysis.
In her tenure, she has completed an array of notable transactions which include the $46 million sale of the Hollywood Landmark—The Gershwin, a $21 million portfolio sale of AB14 non-rent control multifamily investments in Hollywood and Koreatown amidst the pandemic and the sale of new construction in Silverlake at a record $680,000 per unit for the market.
Kitty Wallace, Vice Chair
Bursting onto the commercial real estate scene in 1997, Kitty quickly rose through the ranks to become an authority in the multifamily market. She has continued to set and surpass performance goals both within the organizations she’s been a part of and the industry altogether. During her accomplished career, Kitty has closed more than 400 transactions that exceed $3 billion in total value while achieving record-breaking prices per unit and square foot. She is consistently recognized as one of the top multifamily brokers in Los Angeles and has amassed a multitude of industry accolades over the years.
Kitty joined Colliers International Greater Los Angeles, Inc. in January 2010 as Executive Vice President, specializing in investment sales of apartment buildings, land development, condominium conversions, student housing, affordable housing and special assets throughout California and the Western U.S. She previously served as Senior Vice President for Sperry Van Ness where she ranked as the company’s #1 multifamily advisor and #1 rolling agent across all product types nationwide.
Touted by the media as a multifamily expert in Southern California, Kitty has been quoted in such publications as the Los Angeles Times, BisNow, GlobeSt.com, the Los Angeles Business Journal, Multi-Housing News and Multifamily Executive Magazine, among others. She has also served as both moderator and panelist at numerous real estate conferences including RealShare, Apartment Finance Today, BisNow, ULI and Crittenden.
Kitty joined Colliers International Greater Los Angeles, Inc. in January 2010 as Executive Vice President, specializing in investment sales of apartment buildings, land development, condominium conversions, student housing, affordable housing and special assets throughout California and the Western U.S. She previously served as Senior Vice President for Sperry Van Ness where she ranked as the company’s #1 multifamily advisor and #1 rolling agent across all product types nationwide.
Touted by the media as a multifamily expert in Southern California, Kitty has been quoted in such publications as the Los Angeles Times, BisNow, GlobeSt.com, the Los Angeles Business Journal, Multi-Housing News and Multifamily Executive Magazine, among others. She has also served as both moderator and panelist at numerous real estate conferences including RealShare, Apartment Finance Today, BisNow, ULI and Crittenden.
Juan Najera, Associate
Juan joined the esteemed Downtown Los Angeles office in 2022. He brings with him an unwavering commitment to fostering generational wealth for his clients through honest and transparent leadership.
Each day, Juan exhibits an exceptional work ethic as he immerses himself in studying the market, closely monitoring developments, new businesses, changes in neighborhoods, and legislative changes from the local, county, and state levels. His passion for providing exemplary service to his clients is evident in his proactive approach, as he strives to be ahead of the curve and fully prepared to advise them on market trends and shifts.
Juan's extensive knowledge of the Los Angeles Metropolitan area, coupled with his diligent research and analysis, has enabled him to establish a comprehensive understanding of the market, its current trajectory, and future direction. As a result, he is well-equipped to provide invaluable insights to his clients, ensuring that they make informed decisions in their real estate investments.
Each day, Juan exhibits an exceptional work ethic as he immerses himself in studying the market, closely monitoring developments, new businesses, changes in neighborhoods, and legislative changes from the local, county, and state levels. His passion for providing exemplary service to his clients is evident in his proactive approach, as he strives to be ahead of the curve and fully prepared to advise them on market trends and shifts.
Juan's extensive knowledge of the Los Angeles Metropolitan area, coupled with his diligent research and analysis, has enabled him to establish a comprehensive understanding of the market, its current trajectory, and future direction. As a result, he is well-equipped to provide invaluable insights to his clients, ensuring that they make informed decisions in their real estate investments.
Joshua Carrillo, Associate
I am a member of Colliers’ distinguished Los Angeles Urban Redevelopment Group, where I specialize in the realm of Greater Los Angeles’ capital markets. Leveraging our team’s extensive connections and expertise, I deliver bespoke solutions for clients across various asset classes.
Adam Tischer, Senior Vice President
Adam K. Tischer joined Colliers in January 2011 and serves as a Senior Vice President based in Colliers’ DTLA office.
He specializes in representing large corporate investment and developer clients in the Downtown Los Angeles market, and has completed commercial real estate transactions totaling approximately $100 million.
He specializes in representing large corporate investment and developer clients in the Downtown Los Angeles market, and has completed commercial real estate transactions totaling approximately $100 million.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
Victoria Quade
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
CONTACTS
-
Kalli Knight -
Kitty Wallace -
Juan Najera -
Joshua Carrillo -
Adam Tischer -
Colliers
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MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Mixed-Use MF & Retail in LA's South Park | 1315 S Flower St
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