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Multifamily

128 N Alvarado St

128 N Alvarado St, Los Angeles, CA 90026

Listing Price: $1,225,000

Cap Rate
4.09%
Number of Units
4
Price/Unit
$306,250
Price/Gross SF
$397.73
Gross SF
3,080

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is 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 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. The studio will be delivered vacant, allowing an investor to immediately capture an estimated rental upside totaling 30 percent across all units. 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.

Investment Highlights

  • One Studio Unit Delivered Vacant – 30 Percent Remaining Rental Upside Through Unit Renovations.
  • Four Parking Spaces (Two Tandem) with Gated Entry from the Back of the Property Between Alvarado Street and Mountain View Avenue.
  • Property borders the densely populated neighborhoods of Echo Park, Silverlake and Koreatown and is only ten minutes from Downtown Los Angeles. With a Walk Score of 86.
  • Affordable rents compared to the neighboring submarkets of Echo Park, Silverlake and Koreatown.

Exclusively Listed By

Financing By

Multifamily

128 N Alvarado St

Listing Price: $1,225,000

Cap Rate
4.09%
Number of Units
4
Price/Unit
$306,250
Price/Gross SF
$397.73
Gross SF
3,080

Investment Highlights

  • One Studio Unit Delivered Vacant – 30 Percent Remaining Rental Upside Through Unit Renovations.
  • Four Parking Spaces (Two Tandem) with Gated Entry from the Back of the Property Between Alvarado Street and Mountain View Avenue.
  • Property borders the densely populated neighborhoods of Echo Park, Silverlake and Koreatown and is only ten minutes from Downtown Los Angeles. With a Walk Score of 86.
  • Affordable rents compared to the neighboring submarkets of Echo Park, Silverlake and Koreatown.

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is 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 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. The studio will be delivered vacant, allowing an investor to immediately capture an estimated rental upside totaling 30 percent across all units. 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.

Exclusively Listed By

Financing By

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