Los Angeles, California – The notorious Cecil Hotel, synonymous with a dark history of mysterious deaths and eerie occurrences, is now up for sale, attracting attention in the real estate market.
Located at 640 South Main St. in downtown Los Angeles, the 15-story building has a checkered past that includes being the focal point of a Netflix true crime documentary and serving as the temporary home of notorious serial killers.
Originally developed as a luxury hotel in the 1920s, the property was later converted to homeless housing in 2019 with significant financing from the LA City Council. Renamed as the Hotel Cecil Apartments in 2021, the property currently boasts 601 units.
The ground lease for the property is now being sold by New York firm Simon Baron Development, with a hefty 91 years still remaining. The property is currently 60% leased, with occupancy rates projected to increase to around 80 to 90% by the middle of this year.
The Cecil Hotel’s grim history has inspired both real and fictionalized accounts of horror, with at least 16 deaths occurring within its walls. The most notorious case is that of Canadian tourist Elisa Lam, whose mysterious death in 2013 captivated the world’s attention and was the subject of a Netflix documentary.
The marketing for the property highlights potential profits based on its eligibility for a state program that reduces its taxable value, as well as the stability of investing in affordable housing with government subsidies providing financial security.
Despite the promise of profits, the hotel’s dark past and infamous reputation continue to draw attention, with its history even inspiring a season of the television anthology series “American Horror Story” based on the Cecil Hotel and the mysterious disappearance of Elisa Lam.
With the property now listed for sale, the future of the Cecil Hotel remains uncertain as potential buyers consider the property’s history, potential profits, and the opportunity to own a piece of infamous real estate in Los Angeles.