Los Angeles, California – The infamous Cecil Hotel, known for its dark history of mysterious deaths and eerie occurrences, has been put up for sale. Situated at 640 South Main St. in downtown Los Angeles, this 15-story building has become synonymous with macabre tales and chilling mysteries.
The Real Deal was the first to report the listing of the property, without disclosing the asking price. The hotel has a checkered past, being the subject of a Netflix true crime documentary about a Canadian tourist’s mysterious disappearance and having housed notorious serial killers.
Originally developed as a luxury hotel in the 1920s, the Cecil Hotel was later transformed into homeless housing in 2019 with substantial financing from the LA City Council. Renamed as the Hotel Cecil Apartments upon reopening in 2021, the property now comprises 601 units.
The ground lease for the property is currently being sought for sale by New York firm Simon Baron Development. The lease still has a substantial 91 years remaining. The site is owned by 248 Haynes Hotel Associates, linked to New York hotelier Richard Born, attracting significant attention in the real estate market.
Despite its grim history, the property is 60% leased currently, with occupancy rates expected to rise to 80 to 90% by the middle of the year. The marketing of the property emphasizes potential profits due to its eligibility for a state program that reduces its taxable value and the stability of investing in affordable housing.
The Cecil Hotel’s notoriety has inspired both real and fictionalized accounts of horror, with at least 16 deaths reported within its walls. One of the most infamous cases involved the death of Canadian tourist Elisa Lam in 2013, which was the focus of a Netflix documentary. The hotel also housed serial killers like Jack Unterweger and Richard Ramirez, adding to its dark lore.
The hotel’s dark history even served as the inspiration for the fifth season of the television series “American Horror Story.” Ryan Murphy, the show’s creator, revealed in a 2015 interview that the season was based on the Cecil Hotel and the mysterious disappearance of Elisa Lam.
The listing of the Cecil Hotel for sale has drawn significant interest from the public, given its haunting past and ties to infamous events and individuals. The future of this notorious property remains uncertain as potential buyers consider its dark history and potential for profit in the real estate market.