The Location
1100 W Temple St sits in City West, the dense corridor that runs between Downtown Los Angeles and Echo Park, one block north of the 101 Freeway and about a half-mile from the civic core around City Hall.
The Math the Broker Is Pitching
There is no published cap rate, GRM, or T-12 in the database. The comp closed without a disclosed income figure. That means any underwriting Atlas readers might do starts from the market up, not from actuals. Here is what the numbers imply:
| Scenario | Assumed Gross Rents (ann.) | Assumed Expenses (40%) | NOI | Implied CAP at $17.55M |
|---|---|---|---|---|
| Subject market rent ($2,573/mo) | $1,667,304 | $666,922 | $1,000,382 | 5.70% |
| Stabilized (93% occ., $2,573/mo) | $1,550,593 | $620,237 | $930,356 | 5.30% |
| At close (89% occ., $2,347 submarket avg.) | $1,339,243 | $535,697 | $803,546 | 4.58% |
What an Operator Sees
LaTerra delivered in 2022 and carried the asset 40 months before selling. I looked at this building last August. I know someone that offered $16.5 million. He told the seller that if they countered at $17 million, he would pursue it. An exchange buyer took it instead. All Cash!
It closed November 7, 2025 at $17,550,000. That is $325,000 a door and $381.35 a foot on 54 units in a building CoStar dates to July 2022.
LaTerra Development sold it after a 40-month hold, 213 days on market, and the buyer, Wendy and Orlo Fiske through Surfwatch LLC, paid all cash as the up-leg of a 1031 exchange out of an $80 million Malibu beachfront mansion.
I am tracking this one. The basis reads low against a $340,000 per unit. I don't think that LaTerra sold this at a profit and they might have taken a loss.
I research these transactions to sharpen my own investment strategy and share what I find so Los Angeles owners, brokers and investors can debate the market with better information.
Know one other LA owner who'd want this deal? Forward this — reply with their email and I'll add them.
Property and transaction data: CoStar Research.