LOS ANGELES, CALIFORNIA – The Cecil Hotel, known for its unsettling history of mysterious deaths and chilling events, is now up for sale. Located on 640 South Main St. in downtown Los Angeles, the 15-story building has become synonymous with eerie tales and haunting mysteries.
The property, famously featured in a Netflix true crime documentary, has a sordid past that includes the disappearance of a Canadian tourist and being a residence for notorious serial killers. The Real Deal was first to report the listing of the hotel, with the asking price undisclosed.
New York firm Simon Baron Development is seeking to sell the ground lease of the property. Originally built as a luxury hotel in the 1920s, it was later converted into homeless housing in 2019 and renamed the Hotel Cecil Apartments in 2021, now boasting 601 units.
The property has garnered significant attention in the real estate market and is currently 60% leased, with occupancy rates expected to rise to 80-90% by mid-year. The listing also emphasizes potential profits due to the property’s eligibility for a state program reducing its taxable value and the stability of investing in affordable housing with government subsidies.
The Cecil Hotel’s grim history has inspired real and fictional horror accounts, with at least 16 people having met their demise within its walls. One of the most infamous cases is that of Elisa Lam, a Canadian tourist whose mysterious death in 2013 captivated the world. Lam’s body was discovered in a water tank on the hotel’s roof after she had been missing for 19 days.
In addition to Lam’s tragic story, the hotel also housed infamous serial killers Jack Unterweger and Richard Ramirez, adding to its dark lore. The hotel’s notoriety has even inspired television shows such as “American Horror Story,” with its fifth season based on the Cecil Hotel and the case of Elisa Lam.
Despite the potential for profits, the haunted history of the Cecil Hotel continues to draw fascination and curiosity from the public. The property’s listing for sale opens up new opportunities for investors looking to delve into the dark past of this infamous location in downtown Los Angeles.