Property listed by Marcus & Millichap, Neema Ahadian 310-909-5500
$3,450,000
We are pleased to present 320 S Alvarado Street, a 35-unit multifamily investment opportunity located in the Westlake submarket of Los Angeles, just south of 3rd Street and two blocks from MacArthur Park. The property features a desirable unit mix consisting of three bachelor units, 29 singles, and three one-bedroom… Read More units, catering to strong rental demand in the area. Significant value-add opportunity with the majority of units rented below market, offering approximately 32% rental upside as units turn. Attractive basis with the property offered at $98,571 per unit and $190 per square foot, well below replacement cost for a centrally located Los Angeles asset. The property is within one mile of the Metro AE Rail Lines and steps from multiple Metro Local bus lines along S Alvarado Street. Proximity to major retailers and daily-needs amenities, including The Home Depot, Superior Grocers, Starbucks, and a variety of dining and service options along6th Street and 3rd Street. Strategically located with quick access to Downtown Los Angeles, Koreatown, and Hollywood, and close proximity to major lifestyle and employment drivers such as MacArthur Park, Echo Park, LA Live, and Dodger Stadium. Read Less
Listing Snapshot
Days Online
93
Last Updated
Square Ft.
18,195
Lot Size
0.18 Acres
Year Built
1927
MLS Number
26636721
Additional Details
Building
Built in 1927, Living area: 18195.0, 1 building, 3 stories, Levels: ThreeOrMore
Cooling
None
Heating
None
Income
Gross Income: $477,919, Net Operating Income: $212,791
Lot
0.182 acres, Dimensions: 50x155
Parking
None
Taxes
Parcel Number: 5154028004, Zoning: LAC2
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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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