Canvas LA

JLL, as exclusive advisor, is pleased to present for sale Canvas LA (the “Property”), a 210-unit vibrant community located within the City West neighborhood of Downtown Los Angeles. The Property represents a rare opportunity to acquire a 2008 vintage asset with the ability to continue current ownership’s proven renovation plan, capturing rental upside in the remaining ±73% (154-units) of units to be renovated. Premium renovated units feature stainless steel appliances, quartz countertops, subway tile backsplash, modern cabinetry, and pendant lighting. With a diverse unit mix ranging from Studios to 3-Bedroom conventional, live-work, and townhome style units, Canvas LA has with spacious floorplans, boasting an average unit size of ±849 SF. Equipped with a partially-renovated amenity set, Canvas LA’s residents can enjoy scenic city views from the Skydeck, a resort-style pool surrounded by cabanas, games within the resident clubhouse, films inside the private theater room, coworking space, the fitness center, and much more.

The Property’s micro-location of City West provides tenants with the convenience of direct access to trendy dining options, creative office spaces, world-renowned education institutions, and entertainment venues located in Downtown Los Angeles, including Staples Center, the Walt Disney Concert Hall, and the Arts District, while also providing a quiet and safe atmosphere. Moreover, with immediate access to the 110 & 101, residents at Canvas LA are able to easily & efficiently access major employment hubs and cultural centers such as Hollywood, Pasadena, Burbank, Glendale, Culver City, and West LA. The combination of Canvas LA’s rental upside and ideal micro-location will allow for durable growth and outsized returns to new ownership.