We are pleased to present the opportunity to acquire 128 North Alvarado Street, a four-unit apartment community in the center of some of the most desired neighborhoods in Los Angeles. The property borders the densely populated neighborhoods of Echo Park and Koreatown and is only ten minutes from Downtown… Read More Los Angeles. The property's infill location and rental upside offers an investor immediate value-add potential. Situated on a 4,601 square foot parcel, the property features a well balanced unit-mix, consisting of one studio, one, one-bedroom/one-bath, one two-bedroom/one-bath, and one three-bedroom/two-bath. There have been a number of recent upgrades to select units including updated HVAC, plumbing, & electrical upgrades as well as a new furnace, new dual pane windows, and new kitchen cabinets. Current ownership has invested nearly $80,000 into capital improvements over the last 18 months. The two-story building also features four parking spaces with gated entry. The subject property's location has demonstrated meaningful appreciation in both the single family home market and the rental market as Angelenos continue to move into the region and find a shortage of housing options. With a slim development pipeline in the immediate vicinity, this supply/demand balance should promote strong rent growth over the long term. Read Less
Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
Listing Snapshot
Days Online
21
Last Updated
Property Type
Other
Beds
6
Square Ft.
3,080
Lot Size
0.11 Acres
Year Built
1918
MLS Number
24456611
30 Days Snapshot Of 90026
$1,386k
+9%
(avg) sold price
11
-52%
homes sold
75
+2%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1918, Building area total: 3,080, Levels: Two, Living area: 3080, 2 stories, 2 buildings
Income
Gross income: $80,048, Net operating income: $52,908
Lot
0.1056 acres, 4,601 square feet, Size: 4,601
Parking
4 totals parking, None
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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